Mumbai: Radio frequency identification, or RFID, solutions company Rasilant Technologies Pvt. Ltd has seen a rise in demand for its security solutions since the Mumbai terror attacks.
The Mumbai-based company has devised TagPark, a vehicle identification and parking system that integrates RFID technology with application software.
The tag ensures that only authorized vehicles are allowed to enter a restricted area or a parking lot. A reader at a secure location accesses the tag as the vehicle approaches and the gates open only if the vehicle is authorized.
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These tags also store information on vehicle details, entry and exit timings. “We are now servicing 10 office buildings and have received enquiries from another 15,” says executive director Sahil Anand.
Anand started the company soon after leaving college three years ago, with his classmate Shiloditya Mukhopadhyay. The company has since serviced diverse customers, from auto makers to educational councils.
It devises a customized solution, procures the equipment, writes the front-end software application and deploys the tags.
On one of its early projects, it devised an inventory tracking and management solution for auto components at the Pune plant of Bajaj Auto Ltd to speed up the assembly line. In another application, it partnered with the country’s medical, dental and pharmacy councils to monitor faculty enrolment in 3,500 colleges across the country.
“At times, colleges show a certain number of teachers only on paper, but in actuality, there is a lot of defaulting and duplication,” says Anand. Rasilant has integrated the RFID cards with a biometric system—that requires thumb prints for validation—to detect such misrepresentation.
A large part of its revenue comes from channel partners in India and West Asia. Its wide range of applications has helped Rasilant post a revenue of Rs10.5 crore in the fiscal year ended March against Rs45 lakh in fiscal 2007.
Rasilant competes with and acts as vendor to large technology firms such as International Business Machines Corp. and Bartronics India Ltd.
A big challenge for the firm is the high cost of the hardware required to deploy RFID solutions. Compared with barcode stickers that cost a few paise, an RFID tag could cost anywhere between Rs5 and Rs1,000, depending on the application.
“Pricing is a hindrance,” admits Anand, “but we are trying to make up for it by catering to niche sectors and showing a good RoI (return on investment) model to clients.”
The company was started with angel investment from a benevolent uncle. As it scales up, Rasilant says it will look for external funding. In the coming days, it wants to set up an exclusive research and development lab to come up with innovative RFID solutions.
Rasilant Technologies and Evam Entertainment Pvt. Ltd are among the nominated companies at the Tata NEN Hottest Startups competition, of which Mint is the official print media partner. Details of the competition can also be accessed at www.livemint.com/hotteststartups