The Hindu Business Line
Reliance’s Unlimit targets $200 million revenue by 2020
Internet of things (IoT) provider Unlimit, a part of the Reliance ADA Group, said it is expecting revenue of around $200 million by 2020 and will soon ramp up hiring.
The Mumbaiheadquartered company — which employs around 85 people — will be hiring 100 more next year, Juergen Hase, Chief Executive Officer, Unlimit told BusinessLine.
“We are targeting a revenue of close to $200 million by 2020 as we are growing in all the areas that we serve. We achieved this year’s targeted revenue in December,” Hase said, declining to disclose any figures.
According to sources, the company’s revenue stands at less than $100 million.
Speaking on the sidelines of the MG Motor India event here, where Unlimit showcased Juergen Hase, CEO, Unlimit
its capability in connected cars, Hase said the market for connected vehicles will grow manifold in future.
More than 50 per cent of the company’s revenue will come from this segment.
The company will provide the MG Hector iSmart Next Gen, which will be embedded with a machine-to-machine Sim, ensuring the car remains connected.
The customised solution has been developed by Unlimit in partnership with Cisco and Airtel, which have collaborated with their Jasper platform and telecommunication network, respectively.
Unlimit has partnerships with many operators in the country, such as BSNL and Vodafone-Idea, for providing various IoT services.
It is also working with around 500 local partners to provide such services, and will add more in the future as per the demand.
“These partners have rich experience in India, which is very important. Partnering with even a top company from Silicon Valley wouldn’t make sense if it doesn’t have experience in India,” Hase said.