As the mobile penetration increases and with sensor wearables coming in, a distinguished marketplace is needed where all IoT devices can be traded. There are no specialized marketplaces for such devices yet. This is where demand of CannyKart will pull the consumers towards its marketplace.
Former CFO and board member of Infosys, V Balakrishnan, has invested an undisclosed amount in an online marketplace for IoT devices, products and solutions, CannyKart, tells founder. Balakrishnan will also join the advisory board of the startup that is going to be live by July.
Founded in 2014, by Rangarajan Kotadi along with two other co-founders, CannyKart is a one stop shop for Internet Of Things (IoT). the startup will deal with IoT devices, products and solutions. The CannyKart website will be live in a few months.
CannyKart plans a three phase launch of its marketplace to consolidate the solution providers on a platform to create great value proposition for the customers.
The Phase I will see the direct launch of IoT products and wearables in various industry segments including healthcare wearable, baby care products, home communication system. This will accommodate the B2C model of selling products like the other marketplaces.
Phase II will be the consolidation of Internet of things solutions. The startup plans to consolidate solutions for various verticals in IoT which would be a bottom up approach of having the customers looking for IoT solutions. We want to create value at the bottom of the pyramid said “ Rangarajan Kotadi”. The solutions platform can be used in two ways. IoT developers can use the platform to build the devices and can use the platform as an interface between their devices and the cloud and also can provide analytics for their customers. Industries who would like to transform and implement IoT can use the platform and select the best solutions. This is focused toward B2B markets.