Chennai -based startup, Nimble Wireless today announced that it has crossed $1 million in revenues. The startup, which offers end-to-end IoT solutions for monitoring remote assets, further expects to achieve over 100% growth by the end of the year.
Siva Sivakumar, CEO & Cofounder, Nimble Wireless said, “We are excited that our IOT SaaS is helping pet owners have peace of mind about the safety of their pets particularly when travelling with their pets. We look forward to growing this business to support over 150 M+ pet owners in the US.”
“We are also very upbeat about our how our product is being used in the food industry and the work we are doing with them to ensure compliance. We recently helped a leading food company in Los Angeles by equipping its trucks and cold rooms with real-time monitoring systems to ensure FSMA compliance,” further he added.
Nimble Wireless was started by Siva Kumar and Naveen Sabapathy in 2007. Initially, they started as a wireless product services company and pivoted in 2012 to launch an IoT-based monitoring product. They found two major use cases in the pet safety and food distribution industries.
The company is based in India and the entire solution (hardware, firmware and cloud/mobile apps) including the manufacturing is done out of Bangalore and Chennai. Nimble Wireless has so far raised around $1M in funding from Prime Venture Partners and other investors.
The IoT startup recently introduced an App-based pet safety product that has received phenomenal traction from the recreational vehicle (RV) and pet owners in the US. Branded as RVPetSafety, the product is designed to monitor a pet’s environment temperature, on the go, through a mobile phone. Over 1000 units have been sold by the company so far since its launch late last year.
The company is bullish about the market opportunity, as over 65% households in the US own at least one pet. According to the American Pet Products Association (APPA), the market for pet products reached an estimated $62.75 billion in 2016 and is expected to grow at 5.4 % annually. In addition, the RV industry’s shipments are expected to reach 472,200 units in 2017, according to the Recreation Vehicle Industry Association (RVIA).
Nimble also works with food production & distribution companies in the US & Canada and enables them to monitor the safety of the food in real time.
Nimble Wireless helps customers to wirelessly connect, control and manage their remote assets. The company provides state-of-the-art IOT SaaS (Solution as a Service) products to consumers and businesses. It helps consumers to keep their pets safe and food/pharma companies to keep food safe & fresh and medicines/vaccines and clinical samples potent. The company’s solutions are targeted towards multiple verticals such as Food & Produce companies, Cold Chain Transportation & Logistics and Healthcare.