Artificial intelligence (AI) based security and enterprise big data analytics service provider Staqu Technologies has said it aims to generate a revenue of ₹400-500 crore by 2028 from just ₹14 crore right now as it expands its business.
Staqu is an AI business that is pioneering the security and enterprise big data analytics areas with its video analytics, big data, and auditing solutions that use deep learning research and innovative engineering.
Its product Jarvis is employed in the audio-video analytics and management sector and customers include Raymond, Cafe Coffee Day, Starbucks, Chaayos, GMR, Croma, IBM, Adani Power, Tata Communication Services, Telangana Police, Uttar Pradesh Police, and Bihar Police. It also works with the Election Commission during elections in various States.
“We have done around Rs.14 crore in the last financial year and this financial year (2023-24) we expect to do revenue of around ₹45 crore. In the next five years, by 2028, we expect to be a company of ₹400-500 crore and once we hit ₹500 crore, we even plan to go public through an initial public offering (IPO),” Atul Raj, Co-founder and Chief Executive Officer, Staqu Technologies, told businessline.
He said the company is currently processing around 45,000 CCTV cameras at a time, and this will increase to lakhs in the future as it opens new offices in the West Asia and European markets. Staqu has already set up an office in London and will soon start one in Dubai.
“Our aim in the next five years is to establish Staqu as a global brand…there are very less companies which are in this field and the best part of our business is that we don’t need a huge setup. We just have to keep track of the security cameras of each customer and data in their servers, and all the information we process is under data regulations,” Raj added.
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Published on October 8, 2023
