Aarika Innovations using deep tech to make workplace safer

Aarika Innovations, a rapidly emerging deep tech company, is renowned for its innovative solutions in industrial safety. Capitalizing on emerging technologies like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and Data Analytics, Aarika Innovations is reshaping organizations and enabling their safety through its groundbreaking solutions.

In an interview with Bizz Buzz, Swayam Agrawal, Founder and CEO of Aarika Innovations, shares insights into the company's vision, mission, and diverse portfolio of products

What led to the idea for your company?

Aarika Innovation was founded in 2021. The driving force behind this venture was my aspiration to make a positive impact by addressing the issue of fatalities in various industries. The mission of the company is to develop cutting-edge industrial safety solutions using emerging technologies, ensuring the protection of working personnel and assets in hazardous environments.

How has it evolved in terms of creating your kind of portfolio?

Since its establishment, Aarika Innovations has evolved into a prominent player in the deep tech sector. I’ve focused on continuous growth and learning, expanding our expertise to offer a diverse portfolio of products and services. Initially excelling in custom software development, we have broadened our offerings to include IoT solutions, automobile solutions, and Industry 4.0 technologies. This evolution reflects our commitment to addressing the evolving needs of our clients and providing comprehensive technology-driven solutions.

How do each of your product portfolios contribute to the revenue of the company?

Aarika Innovations generates revenue through its diverse product portfolios, including software development, IoT solutions, automobile solutions, and Industry 4.0 technologies. We offer tailored solutions to businesses in various industries, ensuring safety, optimizing operational efficiency, and fostering growth. Revenue is generated through project-based engagements, software and hardware development services, and ongoing support and maintenance contracts.

Can you describe the kind of work you do for each of your clients?

I work closely with clients to understand their specific needs and challenges. Aarika Innovations provides customized software development services, end-to-end IoT solutions, innovative solutions for the automobile industry, and expertise in Industry 4.0 technologies. The work includes developing software applications, implementing IoT solutions for connected devices and data analysis, creating solutions for fleet management and vehicle tracking in the automobile sector, and integrating Industry 4.0 technologies for manufacturing process optimization. Our software helps our clients to ensure workplace safety for their employees and prevents any kind of bad incident at the industry sites.

What kind of applications you offer for manufacturing companies, finance and service companies across India?

Aarika Innovations provides a diverse range of innovative products tailored to cater to the unique needs of manufacturing companies, finance, and service companies across India. The company’s product offerings address various aspects of safety, compliance, and operational efficiency.

Here’s how Aarika Innovations products can be applied to each sector:

Manufacturing Companies

• ILOTO - Smart Interlocking: Ideal for manufacturing environments where machine guards are crucial for safety. ILOTO prevents unauthorized access to machine guards, enhancing workplace safety.

• QoozmoR: This system offers a modern solution for QR-based industrial compliance, providing a 360-degree view of assets. Manufacturing companies can use this for efficient asset management and compliance tracking.

• Golden Eye: An AI-based solution with computer vision designed for silo parking. This can be particularly useful in manufacturing settings where optimized parking solutions are required for efficiency and safety.

• Industry 4.0 Solutions: Aarika Innovations Industry 4.0 solutions, such as industrial automation and real-time monitoring, contribute to increased productivity and operational efficiency in manufacturing processes.

Finance Companies

• ILOCK - Smart LOTOTO System: With an innovative lock tag in / tag out mechanism via OTP, ILOCK provides secure access control. This can be applied in financial institutions to enhance security measures, ensuring restricted access to sensitive areas.

• QoozmoR: The QR-based compliance system can aid in managing and tracking assets, which is crucial for financial companies that deal with valuable assets and documents.

• Customized Software Applications: Aarika Innovations offers customized software applications to finance companies, enabling them to optimize their operational processes, enhance security, and improve overall efficiency.

Service Companies

• SSB - Smart Safety Badge: Tailored for providing safety in confined spaces, this solution is beneficial for service companies where technicians may work in enclosed environments. The Smart Safety Badge ensures the safety of technicians during their work.

• QoozmoR: The QR-based system offers a 360-degree view of assets, which can be valuable for service companies to manage their equipment and comply with industry regulations efficiently.

• Customized Software Development: Aarika Innovations provides a range of software development services tailored to meet the specific business requirements of service companies, facilitating smoother operations and service delivery.

Do you plan to offer your product solutions internationally?

Aarika Innovations has already expanded its operations by launching sales initiatives in Australia. I envision further international expansion, particularly into European markets. The plan is to leverage advanced technology tools and tailor products for global industrial applications.

How sustainable is your company?

Aarika Innovations is committed to continuous growth and learning, staying at the forefront of emerging technologies. The company’s sustainability is evidenced by its ability to adapt to evolving client needs, expand its expertise, and enter new markets. The focus on developing innovative technological products for industrial applications further contributes to the long-term sustainability of the company.

Can your products provide environmentally-friendly solutions?

Aarika Innovations contributes to environmental sustainability by providing solutions that enhance safety in hazardous environments. Additionally, the company’s commitment to Industry 4.0 technologies includes a focus on efficiency and resource optimization, indirectly contributing to environmental sustainability.

How will your expansion plans help to foster the growth of the company?

Aarika Innovations expansion plans involve launching sales initiatives in Australia and further entering European markets. This geographical expansion, combined with the development of advanced technology tools, will position the company as a significant player in the global market. Targeting specific industries like steel and power will also contribute to sustained growth.

What are the financial projections for the company’s growth?

The company expects to grow, aiming for a revenue of five crore this year. In the next year they are expecting just double of it which is approximately 7-10 crore. These projections show that the company is optimistic about getting bigger and more successful.