Hero Electronix, Hero Group’s venture into the technology space, is on an expansion mode for new smart devices and export markets in the emerging countries, a top official said.
The company will introduce products like dashcams for automobiles, drones, smart glasses, car trackers, smart helmets and healthcare products.
“We have grown by eight times in the last two years with over $100 million in revenue and sold 75,000 units of smart devices and electronics in the last year only. We have a built a lot of traction in the market with 800 stores, online and offline, in 35 cities,” Nikhil Rajpal, Chief Executive Officer, Hero Electronix, told BusinessLine.
He said the company’s Qubo brand, which is mainly into smart home solutions and devices, has a good market share in the ₹6,000-crore home security market and expected to grow further in the future.
On expansion, Rajpal said, “We have already started exporting to West Asia and now looking at more emerging markets. In India too, we are looking at expansion in eastern and southern parts.”
On investment, he said the company has raised about $40 million only for one of its business verticals —Tessolve Semiconductors. On other brands like Qubo, the company invests around ₹40 crore every year.
New products
Meanwhile, Hero Electronix launched two new products, Qubo Smart Cam 360 and Qubo Smart Door Lock, on Wednesday. Priced at ₹2,890, the AI powered smart 360 cam will not only attract smart homes customers but also small offices and businesses to ensure 24×7 security, the company said.
The smart door lock is priced at ₹13,990 onwards and would allow the consumer to go keyless and enjoy living a convenient and smarter way of life, it said.
“We have introduced two new products that not only offer security but also convenience to our consumers. We have newly entered the smart door lock category with our product and are keen on further expanding our line of products,” Rajpal said adding that the products will be available across offline outlets and e-commerce portals, including Amazon and also on Qubo’s own website.
