Photo - Hurestic IoT Systems
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Hurestic IoT Systems

IoT biometric system for employee attendance management

India, Karnataka
Market: Internet and IT
Stage of the project: Prototype or product is ready

Date of last change: 08/15/2019
Min investment
$  20.000
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Total required
$ 50.000
Rating
equalizer 258 из 1000
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Idea

Most of the small businesses in India still rely on manual methods of staff attendance tracking. Hurestic is a mobile app that works wit proprietary IoT biometric time-clocks to show real-time attendance data.

Current Status

Multiple rounds of prototyping done. PoCs deployed.

Market

Our target customer is a 35 year old who runs their own business such as a restaurant, interior decor agency etc and needs to track the attendance of the employees across one or more (office/client) locations.

We're looking at a $1.5B ARR market in India alone.

Problem or Opportunity

Employee attendance tracking is a statutory requirement that is time-consuming and a recurring problem for most businesses in India. While most still rely on manual methods, there are a few businesses that have migrated to using biometric time clocks. The problem with these timeclocks is in extraction and cleaning of the data from these devices.

Solution (product or service)

Our IoT biometric platform allows businesses that still rely on manual attendance tracking methods a way to track their employees in real time on a webapp.

Competitors

GreytHR, ZKTeco

Advantages or differentiators

Features on hardware and software.

Finance

We charge Rs. 99 (~USD 1.5) per employee/month for attendance and payroll service which includes the cost of the hardware, SMS and push notifications for late arrivals, leave requests etc.

Business model

SaaS

Money will be spent on

Product development.

Team or Management

Incubation/Acceleration programs accomplishment

YCombinator Startup School USD 10000 grant winner in Jan 2019.

Won the competition and other awards

YCombinator Startup School USD 10000 grant winner in Jan 2019.

Invention/Patent

Patentability search is ongoing.

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address