E Cube India eyes Europe, Australia

Vadodara based E Cube India Solutions Limited has announced its plans to enter the European and Australian markets to offer embedded solutions and mobile commerce applications.

E Cube has been an active supplier of mobile commerce-backed applications to various clients in South America, the Middle East and South East Asia.

For supplying solutions in European and Australian market, E Cube has received "CE" Certification, which implies conformity with essential health and safety standards as set out in the European directives and is regarded as the 'trade passport' for Europe.

This will therefore enable E Cube to actively look at exporting its higher-end vending machines to the European and Australian markets in a big way.

"Looking at overseas customers, E Cube will have to put all efforts to achieve international standards." said Ashesh Shah, MD and founder of E Cube India Solutions Limited.

"We will focus more on distribution of higher-end vending machines in international market. E Cube not only manufactures but also provides solutions for remotely monitoring the vending machines," explained Shah.

He also said that the company will have its distributors in Europe and Australia. "In phase one we will create our distributors in Germany, Australia, Hongkong, Bangkok and other countries and in second phase we will increase the chain of distributors in developed countries like USA by the end of current financial year," claimed Shah.

Talking about domestic market, Shah said that E Cube has already installed its vending machines on petrol pumps and malls.

"Very soon we will also increase our number of vending machines in India, where the machine as a shop will be accessible round-the-clock," he said adding that E Cube's market share of bigger machines in India is more than 80 per cent. The company is funded by Gujarat Venture Finance Limited (GVFL) and SIDBI.

"We have total investment of around Rs 5 crore which we will be using for our expansions world wide," said Shah.

Vishnu Varshney, president and CEO of GVFL said, "E Cube's high-end technology applications have substantial acceptance in global markets which will lead to a stronger topline growth. This will enable E Cube to attract additional funds for enhancing its operations to meet the growing demand for its products and solutions."