Sequoia AT is pleased to announce that they are on the list of the CIO bulletin’s 10 Best IoT solution providers for 2019. Speaking on the occasion, COO of the company, KR Gopinath says “I am glad that they recognized what we do here in Sequoia. Our team’s outside the box thinking and persistence for making our customers products better is why we were recognized by the CIO Bulletin.”
SequoiaAT currently has two development centers in Santa Clara (USA) and Trivandrum (India). SequoiaAT is planning on expansion of their development offices in Santa Clara (USA) & setting up new office in Kochi (India).
Working with passion is the internal theme at Sequoia. And this recognition is a proof of what every Sequoiaan believes in. Ram Mohan (Director) says that “At SequoiaAT the quality starts by ensuring that we hire for our culture. We hire only individuals who are extremely passionate about their work. This enables us to go beyond our customer expectations.”
SequoiaAT was named perviously named in the Top 100 Tech companies founded by Indians in Silicon India Magazine
These days we see quite a few technology companies going the crowdfunding route(Indiegogo/Kickstarter) to get to market sooner rather than wait for the traditional way of raising money to build the product. It appears as a beautiful idea if co-founders do not want to give out equity but raise money to get to market. But I personally feel that this is a double edge sword and entrepreneurs have to be very careful with the choices as it may end up hurting more than helping in the long run.
What I have noticed is companies look forward to crowd sourcing mostly for either one of the following reasons
Raise money to help them accelerate the engineering cycle time and help them reach market faster with confirmed orders – The challenge with this usually is if you are not far enough into your engineering /product cycle with most problems solved the money raised through these campaigns are in most cases is not enough to get to production and delivery.
Create a sales and marketing buzz which then later helps them to get leverage with retailers and opens up many channels – This is a fantastic model because getting into some of the traditional channels to sell a product is not easy. But these days Bestbuy/Amazon etc. have a separate focus on successful products from these campaigns. So this will enable the startups to get into shelf faster if they are successful. This also gives a better chance of getting picked up by some distributors.
Show the demand the product has in the market to convince tradition VC’s to put in money into the company – This is a good idea only if you are convinced that your product is going to be a runaway success else the chances are that it can do more harm. Any thing less than a runaway success is going to raise more questions and challenges when startups try to raise money than help.
I have read few statistics and based our experience, the projects mostly do not make it out in time. This ends up damaging credibility with the same customer base which supported the product. And now if the product turns out to be below par after a long wait, we have a very unhappy customer to deal with also.
What I noticed is that many of these companies fail to deliver on time because
These companies are either trying to solve some really challenging engineering problems which need a tremendous amount of money than what they can get from a Kickstarter/Indiegogo campaign. So they start falling behind on development goals and delivery deadlines
They have the right idea and concept but limited experience in delivering products end to end and when they start dealing with it they realize the unknowns are lot more than the knowns and they start slipping
These companies are fighting battles on many fronts and crowd sourcing is just one of the avenues. So they do tend to get carried away in their engineering cycle when they see greener pastures which ends up adding delays.
My personal thought always has been crowd funding is a good platform if you are done with 80% of your engineering . As I mentioned earlier this is because the money you raise from pre-selling this product is usually good to pay for your production needs only. However, if you are planning on doing your core engineering and delivering product based on this money then the likelihood of failure and delays are very high. The only exception I can think of is if the company has a reliable partner/team in a country like India, China where a bulk of the engineering is being done then this money does tend to help even if they are behind in their product lifecycle.
I think backers need to check with the company before putting money in as to how much of engineering is already done and ask to show working prototypes, actual Industrial design mockups, software demos etc. before trying to put money in. Also, it may help to ask how the money collected is going to be spent because it gives you an idea of the readiness of the product you are backing.
We have been hearing a lot about IIOT to be the real revolution happening or industry 4.0 or the next industrial revolution. However its not like a eureka moment and it’s not something set out in future. It’s been an evolution into it for past many years. Factories were already getting digital with the industrial internet, with Industrial IOT its just picked up pace. The tools, technology and ease of data access has accelerated the pace of this adoption.
Large industrial houses like GE or Siemens or ABB were always an IIOT company although they were not known for it. They had the ability to monitor and managed the expensive machinery health Since it was important for them to prevent downtime to customers . It also enabled them to learn in real time how machine was being used to improve their engineering. The thing that has changed is that this capability can be offered and implemented by any industrial plant of any size or revenue.
IIOT is a vast area which includes everything from sensors to data big data & AI. After ERP, IIOT will change it further to pick up on problems sooner and there by saving time and money . Imagine a small shop manufacturing pumps – They can now be connected real-time to their sales offices so they know which pumps are selling each day which in turn enables them to adjust the production to what’s needed more, to getting inventory only when they need based on this data, and the predictive maintenance systems enable them to know if there is any flaws in the manufacturing process and once the pumps are installed at customer premises they can collect the live data and alert customer of any possible problem they are foreseeing .
There are many companies operating in this space trying to address different parts of the puzzle . At SequoiaAT we have been fortunate to work with 2 companies in this space @opabydesign work in building condition monitoring and predictive maintenance. @Deepthoughts works on building energy monitoring solutions for factories to ensure that machines are running efficiently and at optimum energy consumption
We may not see or experience much change in daily life unless we are involved in the industry or factory and that’s our daily job. Supervisors expertise to be called upon to identify and fix a problem is going away as a decision will be made on actual data and not the experience of a floor supervisor. Today if you are a small shop, and say a machine starts making noise most likely your workers are depended on more experienced people to troubleshoot and tell what the problem could be with help of these cheap but effective smart devices .