RUDO: India's first smart lock system for industry and homes
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An Indigenously built, Patented IOT based smart lock system that provides keyless operations, Easy Share Access, and audit trails
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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
Target
$ 1 Million
Term Sheets : Open
Lead Investor : Open
Expected Close : 20 February
Seed Round
Interest Received: 3
YuTu Story
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.
RUDO Story
Reasons to Invest
Strong order pipeline
Unique "category maker" that's creating a new market
Strong team with relevant experience
Revenue generating
Patented Product with high entry barriers for new incumbent
Alliances and distribution network in place