Emerging applications and business models supported by standardization and affordable device costs are driving the growth of the Internet of Things (IoT). The IoT market has taken the center stage and has become one of the widest ecosystems in the market today. As per the analysis by independent researchers, between 2016 and 2022, IoT devices are expected to increase at a CAGR of twenty-one percent. It further adds that around twenty-nine percent connected devices would be in the market by 2022, out of which around eighteen billion are related to IoT. Embracing innovative software and aligning technological elements, businesses are creating a comprehensive solution which has set the right trajectory for the IoT market.
One such prominent name in the emerging field of IoT market is Hug Innovations Corp. It is a next-generation wearable and IoT platform company with expertise in the fields of advanced gesture recognition, machine learning, and artificial intelligence. HUG Innovations uses consumer technology from factors like a smartwatch, smartphone, IOT devices, and handheld remotes to port its gesture control experience which is based on relative motion detection. ‘Gesture recognition’ technology uses a combination of MI, AI, cognitive science, and contextual intelligence to deliver an unparalleled interactive experience with connected devices. The company has been selected as one of the “Best 50 Startups to work for in 2017” by the Silicon India Magazine.
Insightful Leader at Hug Innovations
Three attributes which make Raj Neravati a true business leader – technocrat, pragmatic, and visionary. As the Founder and CEO, Raj has been instrumental in taking Hug to new heights with his business acumen. In his professional career spanning over eighteen years, he has managed global teams with companies like Cigniti Technologies and AppLabs in the roles of COO and Senior VP respectively. He has travelled to over sixteen countries and this global exposure has assisted him to understand the customer perspective in a much better way.
Instead of having a business idea, the journey started with an emotion which deeply impacted the mindset of the people in many ways. The need to address the safety of women became the utmost priority and that’s when the idea of developing a holistic solution paved the way. The idea was to create a solution which can integrate with a smartwatch, mobile application, cloud platform, analytics, and a lot more without even touch of a button. As a complete solution provider, Hug invented a technology which can trigger SOS using simple hand gestures. With this path-breaking innovation, Hug Innovations cemented its identity as a matured player in the IoT industry.
The Key Innovations Which Makes the Difference
The solution is a result of a vision to empower the women with safety and security when it’s needed the most. The company has been successful in creating a comprehensive gesture platform with possibilities of controlling computer, drones, and music on a smartphone. Hug Innovations proudly term this as a disruption in the technology world and have already filed a patent on the technology. In a short span of three years, the company has successfully launched four commercial products in the market.
Hug Smartwatch: Inspired by the classic wristwatch, this modern wearable smartwatch comes with a bundle of features related to safety, fitness, health and many more. The cutting-edge technology of the watch empowers a person to express, interact, control, and play without any interference. The watch can be preset to react to threat situations and send a distress signal to the family members and alerting the nearby emergency services. This feature can either be manually activated or it works by providing hand gesture when in trouble.
Hug Elan: This fitness tracker is equipped with a multi-sports mode which can identify seven different fitness activities. It can also connect with the community through which the user can add participants and take on group-targets to maximize their fitness objectives.
Hug Fit: Targeted for the fitness enthusiasts, this is a water-proof device which has health, fitness, and sleeping tracking features. In India, this device is marketed by Reliance Digital and is available across all Reliance stores.
My Buddy: Keeping the safety and security of the kids while they are out of their homes or not with their parents, the company has developed a child-safety tracker. This tracker has features like SOS, geo-fencing, 24/7 monitoring and much more. The organization has developed this tracker for ‘Eurokids Private Ltd’ to address child safety needs beyond the school perimeters.
USP of Hug Innovations
The company is a pioneer in developing gesture recognition without camera combined with machine learning and artificial intelligence. Additionally, the gesture connectivity and developer platform offer new possibilities in VR-based applications. Embracing the fitness applications into the enterprise healthcare platform can assist in tracking overall health data, suggest preventive actions, and provide insurance guidelines for the corporate world.
Key Challenges – Rising To the Occasion
The advent of technology and abundance of players in the IoT market made it extremely tough for the company to survive the initial journey. Finding the right mix of designers, and developers for a hardware startup was another crucial area to work upon. The scarcity of investors was another major obstacle which pushed the company at crossroads at one point. However, with sheer determination and the zeal to succeed, Hug Innovations overcame the challenges with their persistent hard work.
As the Indian IoT industry moves forward to play a pivotal role in boosting the economy, Hug Innovations has conceptualized key strategies which can take them ahead of their competitors in the long term. The company firmly believes that ‘a penny saved is a penny earned’. They are confident that the ‘gesture platform’ technology will assist them to grow faster and create an array of opportunities for developers who like to cross skill and grow in the emerging markets.