A potato wafer manufacturing company was caught unawares by the fact that its packets had roughly 27% more weight than the prescribed net weight. The realization struck Ahmedabad-based startup EroNkan Technologies when they designed a monitoring system for the company’s weighing machines. Adopting a new technology instantly reflected on the company’s revenues.
Past journey: An IIM Bengaluru graduate, who worked with multinational giants such as Hewlett-Packard, Ketan Parekh, wanted to build a next-gen technology. “What I looked at is the next growth phase in Industry 4.0, where machines can interact with machines and fish out data that gives information about the process, productivity, and effectiveness. Besides, the current industry largely relies on technology imported from countries such as Japan and the US. That led me to begin with EroNkan Technologies,” said Parekh. The company provides customized computing solutions that enable IoT technology and has its R&D and a product development center in Bengaluru.
Next steps: The company recently received funds worth Rs 5 crore from GVFL Limited and currently caters to several companies in the food processing and packaging sector. “We work with companies such as Balaji Wafers, Adani Wilmar, Tipton Capacitors, among others. Going forward, we also plan to work with pharma companies,” said Parekh. “We are in the process of launching a new version of our existing product by the end of the year. This will take us to the next growth phase. After the success of our products in Indian companies, we plan to take it to companies in foreign countries.”
Challenges: Slow adoption and acceptance of new technologies is a key challenge Parekh and his team address on a daily basis. “Currently, whatever technology is being used by companies ranges from as old as the 1980s to as new as 2015. Convincing companies to adopt new technology is a key challenge,” he said. The secret to success: Consistency in product quality and belief in the concept has always worked for the company. “Since 2014, not just me but the entire team had a strong belief in the concept.