Tech Firm ZYFRA Targeting $50 Million Revenue From India by 2021

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The company has a strong presence in India with nearly 10 pilot projects presently being underway and 15 partners collaborating in the projects.

India is a key market for ZYFRA, a leading Finnish-Russian Artificial Intelligence (AI) and the Industrial Internet of Things (IIoT) solutions firm.

The company has set a target of 50 million dollars in India-related deals by 2021, up from the present three million dollars.

“We give the highest importance to India as its growth rate should stabilize at 8 percent during the next decades, ranking the country as the world’s fastest-growing economy,” Pavel Rastopshin, Managing Director, ZYFRA, told a news portal.

The company has a strong presence in India with nearly 10 pilot projects presently being underway and 15 partners collaborating in the projects.

It has also received a confirmation from the Indian Railways, the largest railways network in the world, for tracking machine operation.

Recently, it opened two new offices in India in New Delhi and Mumbai, and it is recruiting new employees, according to Rastopshin.

Looking for Indian partners in smart mining sector

VIST Group, a subsidiary of ZYFRA, is also planning to foray into Indian market with its smart mining solutions.

The company, Rastopshin said, is currently looking for reliable partners in India to jointly promote Intelligent Mine complex to help increase use of haul trucks and excavators by up to 20-25 percent and drilling rigs up to 35 percent, as well as reduce costs for maintenance by 10-15 percent a year.

In terms of the number and quality of scientific publications on AI, India ranks 13th in the 50 most cited scientific magazines. The US ranks first followed by China, as per a survey.

 

Inputs: Scrabbl.com

Longjam Dineshwori

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