Techsource, a startup that develops IoT devices for the industrial sector, has reported that is starts to get traction of it’s sales. Now they are scaling up even more, launching their wireless monitoring system at the Mobile World Congress in Barcelona.
“Our products fit to existing challenges and needs. We want to contribute to revenue generating and green IoT solutions.” says CEO Ashok Bandaru to Rapidus.
Techsource was founded in 2015 by Ashok, who has a past of a decade at Ericsson. The startup focuses in IoT devices for industrial application. It’s two main areas so far are wireless monitoring of large machines, one thru measuring vibration and one thru measuring power consumption.
Sales, even if still small, have grown from under 1 Msek during 2016 to almost 5 Msek 2017. The customer base has also grown, most of it’s customers are Nordic companies and there is a growing interest from international companies.
“We have a modular platform that is flexible and can suit different industries and solutions. We have focused on large traditional industrial companies, where we see a big need and a big potential that gives direct profitability.” he says.
Ashok is the only owner of the company, and it has not hade any external investors, according to Rapidus.