Bangalore-based start-up Silvan, which has worked directly up till now with hospitality and real estate firms to install its home automation systems in large projects, is now looking to tap retail customers as it looks to triple revenue in the current year.
â€œHome automation is moving from being a luxury to mainstream as with changing lifestyle, people are turning to technology for security and convenience,â€ said Avinash Gautam, CEO, Silvan Innovation Labs. â€œWe have seen success in our work with buildersâ€¦ we now plan to tap the consumer market,â€ he said.
The home automation segment, which includes home entrance management and smart lighting solutions, is pegged to be about Rs.8,000 crore in India, growing at 25-30 per cent CAGR, according to Mr. Gautam. â€œIt is not very big right nowâ€¦ but can become huge. There is a fundamental shift in the way people are living. We expect consumer business to account for 50 per cent of our revenues in the next six months,â€ he said.
The company registered revenues of Rs.10 crore in 2015-16, and is looking to close the current year with revenue of Rs.25-30 crore. â€œWe will be reaching out to customers both via the online as well as offline medium. We have presence across 30 stores, which we plan to take to up to 100 in the current year,â€ Mr. Gautam said. Silvan Innovation Labs has a headcount of 115.