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Bytebeam manages IoT products on the Cloud. Gautam BT, CEO & Founder, Bytebeam, talks about his work.
How is Cloud technology evolving in the IoT management segment? How do you keep up with it?
Gautam - Cloud technology in IoT is evolving from just being connectivity driven solutions to ‘smarter devices’ driven by new technological advancements in hardware sensors, PCBs along with software advancements like Edge Computing and AI at the edge. The ‘smart’ devices are expected to improve with time making Over the Air updates, configuration updates etc the norm for any IoT application development. Remotely diagnosing the issues with the product is also becoming a common expectation.
At Bytebeam, we have prioritised for new age requirements and aim to provide all the required features of IoT application development on a single platform. We are building a 1-stop integrated backend solution that solves the different use cases our customers have like data visualisations, Over the air updates, device to mobile communication, edge AI etc. Because of the integrated nature of the system integrating with Bytebeam is significantly easier than the state of the art available to our customers today. At the same time as our platform improves our customers get more capabilities.
What are the challenges in Cloud solutions for IoT management? How do you resolve these challenges?
Gautam - Cloud technology in the IoT space currently consists of a wide range of software components like MQTT brokers, over the air update systems as well as traditional cloud software like databases, analytics systems etc. However even the common IoT use cases involve integrating several different components. This is difficult, time consuming and costly. Our approach is to provide an integrated solution for the vast majority of IoT use cases. This helps companies drastically reduce their time to build and market IoT products.
Security and Privacy are two other areas where existing solutions struggle. 91% of organisations have security concerns about implementing IoT and about 50% IoT adopters worry about ensuring data privacy.
Integration with multiple backend systems from multiple vendors makes it difficult to manage the credentials for the devices. If data is spread across multiple different vendors/systems it also makes it harder to control who has access to data and who does not.
What has been your revenue growth% in 2021? What % of revenue growth came from cloud solutions?
Gautam - We are in the early stages of monetization. Revenue growth % as metric is not very relevant at the moment. Rather we are looking at how many products are enabled by Bytbeam. Over the last FY year we went from working with 3 enterprises whose IoT products were powered by Bytebeam to 10 enterprises that are building IoT applications using Bytebeam.
Out of your clients, how many % small businesses did you help - in metros and non-metros (give separate %)?
Gautam - Most of our clients are high tech emerging startups from Bangalore, Delhi, Pune, Chennai.