In our first of the series on bringing to light little known companies making a mark in the industry, we feature iTrans Technologies, a vehicle security device maker.
iTrans Technologies (India) Pvt. Ltd ( www.tcop.co.in) provides GSM-based wireless security and tracking solutions with applications for both consumers and businesses. The flagship product, Tcop, is a mobile-phone sized device which enables consumers and businesses to have two-way communication with their vehicles via SMS thereby preventing vehicle thefts. This happens independent of the network service provider. In the B2B space, it has personnel tracking solutions for companies which employ a large field sales force apart from fleet tracking solutions for companies.
There is a market for affordable and reliable vehicle security and tracking devices/solutions for both consumers (vehicle owners) and businesses (fleet owners). Though there are many GPS-based devices available, Tcop is an innovative and simple solution that solves the needs of the customers.
There are other competitors to iTrans: Micro VBB, Pune, Auto Elettronica Pvt. Ltd, Kerala, Amsaki, New Delhi. However, iTrans says its USP is the two-way communication with your car/bike. This works any time/any where/any network service provider/any phone. No dependence on external hardware or software
iTrans has a strategic relationship with Vodafone for technology, network access, channel sales and customer support. They also have an alliance with Arrow Electronics for research & development, sourcing and procurement. The company has sold more than 2700 Tcop devices till date in the B2C segment. The company plans to launch solutions for other sectors such as home security, energy and facility management soon.
The revenue sources for company are the sales of Tcop to vehicle owners and to companies which have a fleet of vehicles (Eg: Fortis Hospitals, NECC Roadways, and Professional Couriers)
The company lists R&D, Marketing and manpower as the three primary cost centers.
iTrans CEO says that the company’s next milestone is to generate revenues of Rs 5 crores by the end of FY 2012-13. Currently, the company’s turnover is Rs 2.5 crore.
Name: iTrans Technologies (India) Pvt Ltd
Founders: Mr Mallesh Reddy (also the CEO), Mr Ram Honnavalli (also the COO) and Mr Seetharam
Founded In: April, 2008
Number of Employees: 30
Business Type: Manufacturing a Vehicle security and tracking product (Both B2B and B2C)
Target Market: Vehicle owners (two and four wheelers) and fleet owners across Karnataka, Andhra Pradesh and Kerala. Plans are afoot to expand pan-India soon.
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