Se­curens has the Eye on the Prize as eSurveil­lance Takes Off

The Economic Times - - Disruption: Startups & Tech - Taslima.Khan @times­

New Delhi: The esurveil­lance startup Se­curens, which re­cently raised $5 mil­lion from May­field In­dia and Tri­fecta Cap­i­tal, is build­ing a hy­brid esurveil­lance so­lu­tion in­cor­po­rat­ing both sen­sor and video an­a­lyt­ics-based sys­tems to en­sure more ac­cu­racy and re­li­a­bil­ity. The prod­uct, which is tar­get­ted at the BFSI (bank­ing, fi­nan­cial ser­vices and in­sur­ance) and re­tail sec­tors will be launched in April. The com­pany cur­rently of­fers its clients, in­clud­ing lead­ing pri­vate­and pub­lic-sec­tor banks, fifth­gen­er­a­tion alarm sys­tems with video ver­i­fi­ca­tion and two-way au­dio sys­tems that help alert and abort bur­glary at­tempts, with­out the need to phys­i­cally guard ATM premises.

“Both video an­a­lyt­ics and sen­sor sys­tems have their own lim­i­ta­tions, so videos can’t de­tect smoke in premises and hence, can gen­er­ate false alarm. Hy­brid so­lu­tions are the need of the day,” said Su­nil R Udupa, manag­ing di­rec­tor, Se­curens.

The com­pany has de­signed a pow­er­ful pro­ces­sor which will con­nect with sen­sors as well as cam­eras, to do both sen­sor-based and video an­a­lyt­ics-based alerts. The so­lu­tion also lever­ages the strength of ‘edge an­a­lyt­ics’, an up­com­ing area in the esurveil­lance in­dus­try. Es­sen­tially, it is video an­a­lyt­ics done in the pro­ces­sor at the site it­self rather than at a cen­tral lo­ca­tion, thus min­imis­ing band­width re­quire­ments and costs at a much bet­ter speed than the cen­tral pro­ces­sor-based video an­a­lyt­ics, which is band­width heavy and hence slow.

Se­curens ex­pects to close 2016-17 with .₹ 100 crore in rev­enue, up from about .₹ 50 crore last year.

The Mum­bai-based startup, in its fifth year of op­er­a­tions, is among the largest play­ers in the busi­ness, claim­ing at least half of the mar­ket share in the ATM sur­veil­lance mar­ket, which is see­ing rapid growth with more and more banks seek­ing to re­place phys­i­cal guards with esurveil­lance to re­duce costs by about a fifth and in­crease ef­fi­ciency. Se­curens com­petes with Con­nectM and Zoho, among oth­ers.

Hav­ing achieved in­stal­la­tions at over 20,000 sites, out of over 2.2 lakh ATMs in the coun­try, the com­pany is now scout­ing for new sources of rev­enue.

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