RUDO: India's first smart lock system for industry and homes
YuTu, A Smart Security Solution company, has developed a smart transportation security solution combining GPS enabled vehicle tracking with lock operations monitoring to fool proof the system to remove pilferage and theft during transportation of goods
An Indigenously built, Patented IOT based smart lock system that provides keyless operations, Easy Share Access, and audit trails
Custom GPS locks for logistics and warehouse, Smart door locks for Apartments, Hotels & Offices and Padlocks for cabinets, lockers & Enclosures.
Location : Bengaluru
Website : www.yutuelectronics.com
Sector: IoT Device;
Potential Order Pipeline 2020: 50K Units
Est Revenue H2' 2021: $ 1 Million
Commit: $ 20 K
$ 1 Million
Term Sheets : Open
Lead Investor : Open
Expected Close : 20 February
Interest Received: 3
Abhishek Srivastav and Amit Didwania, Good friends from IIT BHU, after working for 20+ years with companies like Texas Instruments, Infineon and Intel, spotted a whitespace that is underserved today.
While homes are becoming smart, locks are still in stone age. For business the problem is even severe, Logistics industry in India faces staggering 31% losses due to cargo thefts. Home security solution is a huge $1.05 billion market and growing.
The duo from IIT BHU decided to tap this opportunity and introduced RUDO- Smart lock system in Aug 2020, after 2.5 years of research and development.
Reasons to Invest
Strong order pipeline
Unique "category maker" that's creating a new market
Strong team with relevant experience
Patented Product with high entry barriers for new incumbent
Alliances and distribution network in place