Edgetensor harnesses Gen AI to elevate fleet operational efficiency and achieve outstanding business goals, offering fleet managers the actionable insights they need for streamlined operations, improved safety, and enhanced efficiency all in one platform
Company : edgetensor.ai
CEO : Rajesh Narasimha ( https://www.linkedin.com/in/rajeshnarasimha/ )
Liability Costs, Operational inefficiency and Driver Churn costs on average $20M for a trucking company with 500 trucks. Most of the current fleet management solutions are reactive in nature. Edgetensor has built a Gen AI powered one-stop multi-camera driver safety analytics platform for fleets, insurance and Automotive markets using computer vision and Deep Learning technologies so that vehicles and drivers can be efficiently managed. Our platform provides 45X ROI to the large install base of cameras in the fleets by focusing on three important business KPIs such as driver safety, driver retention and operational efficiency.
We are generating MRR of 50K and are on the path to doubling in the next 4-6 months based on our sales funnel. We are working with the top fleet management and TIER1 companies in various parts of the globe. Our business KPIs : driver safety, driver retention and operational efficiency are gaining lot of market momentum and we are projected to reach 100K devices in by end of 2024. Our customer personas are fleet integrators, system integrators, Telematic service providers, Automotive OEM/TIER1. We sell to B2B and currently we have 8 customers in production, 8 in evaluation stage and 6 more in the pipeline for 2024.
We can achieve 60% of the 2023 revenue from existing customers from scaling with them. In order to achieve this we had to overcome the following challenges 1) How to scale the service to thousands of devices 2) Improve customer onboarding timeline 3) Automating efficacy testing once deployed at the customer site on a regular basis and 4) multi-cloud operation. The steps will help future customers who are evaluating the solution.
Our next milestone is to scale with the current deployed customers. We are projecting to achieve the following in 2023 a) Scale the solution to 100K devices among the current deployed customers: Projection of 100K devices in production from Bridgestone, SmartWitness, EKS and Bendix 20K devices added to production from existing customers that are currently evaluating the solution 10K devices added to production from new logos that are currently in the pipeline b) SDK For Edge Devices : We have traction from multiple customers such as TIER1: Panasonic Automotive, Bendix, Danlaw, Tata Motors etc. Fleet Management Companies : Loconav, Azuga, SmartWitness, Eroad etc. We estimate 30-50K SDK license business in 2023 from ii) Volumes will come from OEM/TIER1 in 2024 and beyond. We will have development NRE opportunities with OEM/TIER 1 c)Turn-Key Solutions : We anticipate that we can sell 500-1000 channel partner devices in 2023. This will be $6-8 per device/month.
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