The journey started over a chilled pitcher when one fine day Nishant and Somya were casually discussing about their work assignments and ‘future of startups in India’. While Nishant was a full time RFID business consultant at Bhopal, Somya was handling business for an automation venture at Noida. By now both had gathered a fair expertise in the domain and were waiting for the right time to quit their jobs and start their venture. However it took almost a year to roll out as getting the right team was on their prime agenda. Once the core team was in place, first round of investment came as a piece of cake as the idea itself appealed a lot to many. The company commenced its operations in April 2013 from a small office at Noida. Prior homework and networking had bought them a few good projects from the first month itself and everything started off with a blow.
In the first quarter itself the bells started ringing and they had a split with the investors over some issue. With a team of 12-15, a fancy rented office, ongoing project, the monthly business requirements were huge. As all good things come to an end they even shifted their base to a smaller office at Delhi. While some members left, the remaining showed courage to stand in the bad time. Somehow things were slowly managed.
“Today it’s been 3 splendid years since we began and we have pretty well understood what it takes to be an entrepreneur….but at the end of the day it is always good to see your baby grow. From being a small startup to ‘Top 10 Automation Ventures of India’, the company has seen many ups and downs. Since beginning our approach had been very clear – We never sell a solution just because we want to sell it! We sell only if we can add a value to it and create a ROI. Today, often some of the leading tech giants join hands with us to bid for government projects”- Nishant Dean (Founder and CTO)
With over 75 plus odd customers and about half a million active users, the company in no time has become a giant in the tracking and automation ecosystem.
“Unlike other companies of the domain which either work on hardware resale or one time solution deployment model, Eco Tracksys focuses on SAAS based solution concepts which is one of their biggest USP. You can now unleash the power of RFID without even investing much in it” says Somya
Eco Tracksys Ltd! provides a unique package of innovative RFID solutions to its clients where ‘identification’, ‘authentication’ and ‘automation’ are of prime concern. As their tagline says – ‘Making Invisible -Visible’, the deployed solutions helps the companies realize their hidden and invisible operational inefficiencies and thus makes the system more efficient with reduced wastage and costs.
Right from designing the solution from scratch to commissioning followed by operational and maintenance services everything is done in house. The company has recently been in the limelight for their innovative solution designing skills and their ability to play around with data analytics which help their customers to take strategic decisions at the right time.
Some of the signature RFID Solutions developed by the company includes Vehicle Identification and Tracking, Library and Campus Automation, Asset Tracking, Weighbridge Automation, Club Facility Automation, Laundry Tracking etc.
In conversation with one of their recent customers we were told that the deployed asset tracking solutions by Eco Tracksys has reduced the pilferage to almost 98% and has significantly increased the visibility of misplaced items in the warehouse and assembly line unit which accounts to very huge saving for their company.
Uniquely strategized, the team is built such that each ongoing project has its own local and full time team of experts. This gives them the leverage to have a virtual office presence on PAN India basis and provide 24*7 service to its customers. Currently Eco Tracksys has presence in almost all 2 tier cities of India which then ultimately caters to other small cities.
Nishant Dean (Founder and CTO) a mechanical graduate and masters from IIT Kharagpur started his career long back in 2006 where he co-founded companies dealing in software, mobile app and renewable energy which today has grown over years and is operational in the market. Currently he oversees Strategy, Technology and project management for ETL.
Somya Jayaswal (Co-founder and CEO) a master graduate in Marketing and International business from IIPM started of his career in 2010 with his passion to software and RFID industry. He had previously been instrumental in handling large business P&L’s for multinational companies. His leadership at ETL has been characterized by Marketing & Sales Networking, Operations and Financial activities.
“It is always the passion towards what we do, the increasing demand for RFID in India and our dream to be even bigger with each and every passing day that keeps us going in the market. In near future, we plan to explore and expand RFID in IOT (Internet of Things) landscape. With over 100 smart city projects announced in India, we will aim at massive project capitalization specifically in Education, Transport and Industrial sector. With focus on innovation, support service and quality we have been able to stand tall and grow faster than the others. We don’t replicate solutions to our clients. Each client gets something new and unique through the continuous efforts we put in R&D and market survey. Real time data and advanced analytics through implemented RFID Systems has become a game changer for our clients” said Somya Jayaswal (Co-Founder and CEO).
For what we are and what we could be….the entire credit goes to our mentors who initially helped us shape up the idea and gave us a road map for future, the people who had been continuously motivating us to move forward and to the team who had put their heart and soul to make it happen believes the governing team at ETL.
Due to high cost of the components and lack of public awareness; massive adaptability of this technology is still lacking behind. Though various efforts have been made by the government to promote such high end technologies, the market size is expected to grow slower at about $20 billion in next 2-3 years compared to US which currently dominates more than half of the RFID industry. Eco Tracksys will continue to operate in the niche segment with a little diversification towards IOT in the near future. While the overseas market look attractive, ETL visions a smarter and automated India.