Vision:
Creating cutting edge solutions using IoT (Internet of Things) is the primary vision of our company, NitNat.
Why IoT?
The IoT ecosystem has the best blend of solution available in the technology world today - cloud, big data/analytics, mobility and importantly, the devices. Each one of these areas existed for quite a long period and effective culmination of these technologies will add value to everything around us in innumerous ways. The success rely upon on the perfect blend of technology and thought processes.
NitNat Business Model:
Considering the potential of IoT as it exists today but also taking into account of evolving technologies, NitNat positions itself to address specific segments in first year of operation and expand on wider areas year on year.
The core units planned as part of five year business plan are:
- IoT product for common people,
- IoT solution for government initiatives on smart city and digital India,
- IoT solution for commercial sectors and
- Academics and Lab around IoT solution
For the first year of business establishment, the focus will be on IoT product for common people and academics/lab around IoT. Rest of the two units - commercial and government and initiatives will be taken on years 2 and 3 respectively.
The base objective of NitNat to create IoT products and solutions that are commercially viable, addressing specific problem/pain areas and seamlessly blend in as part of day to day activities.
NitNat Product 1 - EmPower!
A simple, light weight, compact product to measure power consumption of every individual electrical device/unit used within a residence right from a simple mobile charger to high power consuming AC/Heater/Home appliances.
Additionally, the product will be supported with backend cloud support, analytics, mobile app which will help the home user to accurately know the level of power usage and make decision to optimize the power consumption effectively. The mobile app will also help to control, monitor the devices and also inform the user on the efficiency/maintenance/heat/leakage etc., where applicable.
The product will be developed on two types - embedded and portable. The embedded device will be placed within existing wall sockets/power junctions once and need not be removed/dismantled for years. The portable device is a kind of adapter which will look similar to other multi-plug adapters in the market.
The cost of the product will be reasonable and typically, a normal 2BHK residence may have anywhere between 10 to 20 sockets/power junctions. The subsequent revenue will come through on monthly usage basis (with initial lock-in period of 6 months for users to see results). The retention of customers can be managed through other offers, tieup with device manufacturers for service/maintenance etc.
The other aspect thought about is using the data on mass level (not on individual level for privacy reasons) for government to evaluate the demand, downtime, load balancing etc.
