(PTI) Predictive analytics solutions provider Intangles Lab is looking to consolidate its presence across the country besides multiplying its operational footprint across the southern part of the country by March next year, the company said on Tuesday. The company also said that with many markets opening and emerging from the post-pandemic slump, its revenue is expected to grow 200 percent by this fiscal year.
The burgeoning demand for vehicle health and safety monitoring solutions reached an all-time high last year with the company seeing record growth in deployments for its advanced mobility solutions, the deep-tech mobility solutions provider said.
Started in 2016, the Pune-based Intangles’ solutions allow fleet operators to monitor, benchmark, and conduct predictive maintenance of assets to enhance their overall uptime and profitability.
The company claims its various solutions are currently powering vehicles for over 5,000 fleet operators across 10 countries.
Intangles Lab has recorded a whopping 200 percent upsurge in deployments across heavy commercial vehicles and off-highway equipment, the company said, adding it has also clocked 170 percent growth in revenue over the same period last year.
By Q4 FY22, the Digital Twin company will seek to multiply its operational footprint across the southern part of India, consolidating its presence across the country, it stated.
According to Intangles, even though the industry is awaiting international travel to ease up, it has already acquired its first customer in North America, where it has set-up an office this year.
The company is also collaborating with an oil and gas giant and will be putting its ambitious expansion plans into action across lucrative international markets such as Europe, Australia, New Zealand, Turkey, Vietnam, and Argentina, besides the ambitious plans to augment its presence across Middle East and South-East Asia, it said.
“As Digital Twin pioneers, the spectacular growth that we have achieved hardly comes as a surprise. While we are consolidating our position in the Indian mobility ecosystem, the outlook is very positive for new opportunities in North America, Europe, Australia, and APAC,” said Anup Patil, CEO, Intangles Lab.
In FY23, we will continue our endeavors of redefining performance benchmarks in mobility and transportation, he added.
Intangles Integrated Vehicles saw a 5 percent improvement in fuel efficiency against the backdrop of a staggering 9.5 million liters of fuel consumed every month besides an average of 10,000 mission-critical breakdowns were prevented month-on-month with a 20 percent increase in asset uptime, it said.
Also, as much as 50,000 litres of pilferage was tracked across fuel and exhaust fluids every month, as per the company. By effectively harnessing the potential of AI and ML-based predictive analytics, it is gradually becoming possible for fleet operators to pre-empt component level failure and improve driving behaviour before they manifest as large dents to a fleet’s profitability, the company said.
Source :Times of India