Tonbo scales up the security curve
The first non-NATO supplier of night-vision imaging systems to NATO countries claims it helps in better interpretation of images for various defence bodies, writes
Lis sufficient diversity, which makes this business attractive,” says Ganapathy Subramaniam, managing partner, WRV Capital. The start-up has a strong pipeline from Greece, the Philippines, Turkey, Italy, and Israel, adds Subramaniam.
“Tonbo’s biggest achievement is creating a disruption in the procurement of military electro-optics systems and democratising night vision technology. Emerging markets have always needed high-end imaging systems for surveillance, reconnaissance and targeting,” says Lakshmikumar.
Tonbo can potentially be a “game changer” and attract more investment in deep technology and science, says a Bengaluru-based analyst. “Against the backdrop of India being dubbed as a copycat start-up nation, Tonbo illumines a real deeptech innovation that is emerging as the ‘pride of India’. It is high time investors started supporting deep science- and deep technology-based innovations originating in India, a grossly underfunded space. Time for invented in India, invented for the world.” Growth Ramesh Radhakrishnan, managing partner, Artiman Ventures, and his team were looking for a start-up with out-of-the-box solutions. Tonbo was able to attract the first round of funding. “We found a team in India capable of working on world-class software at that speed and power. The systems prove there is talent here and these technologies do not come only from the US and Europe,” says Radhakrishnan.
Lakshikumar who did his doctoral work in computer vision and imaging from Carnegie Mellon University, says a combination of efficient imaging and the layer of software could be used for nonmilitary purpose for consumers at scale. Tonbo, founded in 2008, is profitable and expects to clock revenues of ~100 crore in FY18. “While we have found acceptance for our products in defence and homeland security worldwide, migrating to enterprise and consumer is our main challenge over the next couple of years,” he says, adding Tonbo should be a ~500-crore start-up by 2019-20 on a strong order book. Challenges As it plans to penetrate into commercial market, Tonbo should focus on a strong sales network and team, says Radhakrishnan.
An efficient sales team, investors and analysts say, would be as important as concentrating on the right product fit for the commercial market over the next couple of years.