Ashok Soota-founded Happiest Minds is creating a platform that will help the company bag deals in the Internet of Things (IoT) or machine-to-machine solutions.
Talking to Business Line , Executive Chairman said the company will finish this platform in the next couple of months.
IoT refers to a situation where every device is connected to some or the other through the Internet. With the profusion of Internet, all devices from healthcare devices to homes are getting connected to the Internet.
With IoT, vast amounts of data are thrown up and it requires companies to make sense of this data deluge. “This can be used for diagnostics purposes as well as getting better efficiencies from existing ones,” Mark Little, Senior Vice-President, Director of GE Global Research and the Chief Technology Officer of GE, had recently told
Further, this opens up opportunities across the board for companies such as Happiest Minds, which are new entrants and are not burdened with any legacy, typically associated with large companies, according to industry watchers. Soota also added that the company is investing in R&D in these areas as the company looks to build on its growth.
The company has reported an annual run rate of $34 million for the fiscal year 2014, a 122 per cent growth and works with 79 customers across the world. With this, Happiest Minds is on track to hit the $100-million mark and is also considering launching an IPO.
Soota said that a different approach to disruptive technologies such as Social, Mobile, Analytics, Cloud (SMAC) projects, as a growth driver.
“Currently, 50 per cent of our revenues comes from SMAC and we are building platforms that manufacturers, retailers and service providers can use to quickly integrate secure connectivity and data intelligence into products without substantial design modifications,” he added.