Mayfield Fund-backed Securens, which offers e-surveillance for banks and ATMs, is planning to raise around Rs 30 crore to fund its growth plan.
The company, which was founded by Sunil Udupa, has said that it is eyeing SAARC countries for expansion.
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Udupa, Managing Director, Securens Systems Pvt Ltd said that the company would look at raising money from existing investors as well as others. Mayfield came on board a year earlier by investing around Rs 15 crore in the company.
So far the company has installed its system in around 2,000 ATMs and has got an order book for another 2,000 ATMs. The company currently clocks a revenue of around Rs 1 crore a month.
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Company's Active Deterrence offers solution to reduces crime and ATM damage by integrating the alarm technology with CCTV systems. This enables the use of video verification and 2-Way Voice to actively deter a crime, there by ensuring that assets are protected from an attempted burglary, said Udupa.
He added that currently there are about 1.50 lakh ATMs across the country and next year this number is expected to touch 3.50 lakh.
“This offers good opportunity for us as there is no competition for now,” said Udupa, who claims that in the last 6-7 months on an average there were 15 attempts by the burglars in ATMs, where the company's system is installed and prevention ratio was around 100%.
Udupa claims that e-surveillance will be one third of other modes, mainly human guards.
