Antariksh Waste Ventures Pvt Ltd

Antariksh Waste Ventures Pvt Ltd

Antariksh Waste Ventures Pvt Ltd is an Indian startup that focuses on improving waste management through innovative technology. Founded by Mahek Mahendra Shah, the company aims to create a smarter ecosystem for waste disposal and recycling. Here’s a detailed look at the company’s foundation, business evolution, and technological infrastructure.

Vision and Early Days

The vision of Antariksh Waste Ventures is to digitize waste management processes to make them more efficient. The idea was born out of analyzing citizen grievances related to garbage collection, which accounted for around 70% of the complaints. Mahek Mahendra Shah realized the need for a smart solution to address these issues.

The early days involved presenting the rough ideas to the Incubation Cell at IIT Madras in August-September 2017. The team conducted ground research in various municipalities such as Warangal, Chennai, and Hyderabad. This research helped in refining their concept and understanding the real-world challenges in waste management.

The company was incubated in January 2018 and received grant support, which enabled them to form the initial team and kick-start their project. This incubation period was crucial for the development of their innovative smart garbage bins.

Founding Team Background

Mahek Mahendra Shah, the founder and director of Antariksh Waste Ventures, has a strong educational background. He holds a B.Tech in Mechanical Engineering from IIT Madras and an MBA in Energy and Design Management from Politecnico Di Milano. Shah’s diverse educational background and his experience as the Vice-President of the IIT Madras Alumni Association have been instrumental in shaping the company’s vision and execution.

Shah’s prior experience includes founding SwachhBharatApp.com, which further solidified his commitment to improving waste management in India. His leadership and technical expertise have been key factors in the company’s growth and innovation.

Company Business Evolution

Antariksh Waste Ventures has undergone significant evolution since its inception. From the initial concept to the current state, the company has made substantial progress in developing and deploying its smart garbage bins. Here’s a look at their journey and key milestones.

From Initial Concept to Current State

The company started by developing the concept of smart IoT-powered garbage bins. These bins, known as AirBins, are equipped with load and communication modules that help in monitoring waste levels and notifying stakeholders when the bins need to be emptied. The initial prototype was tested in Valmiki Nagar, Chennai, which provided valuable insights and helped in refining the system.

The pilot project in Chennai was successful, and the company received positive feedback from the municipal authorities. This success paved the way for further development and deployment of the AirBins in other areas[4]).

Currently, the company is focused on scaling up the production and deployment of these smart bins. They aim to deploy 1 million smart bins in 100 smart cities across India to significantly improve waste management and recycling efficiency[2]).

Key Growth Milestones

Here are some key milestones in the company’s growth:

• Incubation at IIT Madras in January 2018 and receiving grant support in April 2018[2]).
• Pilot deployment of AirBins in Valmiki Nagar, Chennai in February/March 2019[2]).
• Winning the Qualcomm Design in India Challenge in 2019 and receiving $10,000[4]).
• Completion of pilot bin deployments in October 2019 and implementation of major learnings into the current industrial product[2]).
• Plans to sell 100 smart bins to any Indian smart city/municipality within six months and aiming to deploy 1 million smart bins in 100 smart cities in the next five years[2]).

Product Portfolio Expansion

The company’s primary product is the AirBin, which is a smart garbage bin equipped with IoT modules. Here are some features and expansions of their product portfolio:

• AirBins are connected with sensors that track the load and garbage levels in the bin[4]).
• The bins notify stakeholders through an app when they need to be emptied, ensuring timely garbage collection[4]).
• The system is non-intrusive, meaning daily operations for citizens, sanitation workers, and supervisors do not change drastically[2]).
• The company has moved from LoRa to NB IoT technology to overcome issues like power cuts and to enhance the reliability of the system[2]).
• The industrial product now has a battery life of over four months on a single charge[2]).

Company Technology Infrastructure

Antariksh Waste Ventures relies heavily on advanced technology to improve waste management. Here’s an overview of their core platform architecture, security framework, and innovations in the industry.

Core Platform Architecture

The core platform of Antariksh Waste Ventures is built around IoT technology. Here’s how it works:

The AirBins are equipped with sensors and IoT modules that continuously monitor the waste levels. When the bin is about to get completely filled, the sensors send signals to the IoT module, which then alerts the stakeholders through the AirBin app[4]).

The system is designed to be user-friendly and does not require significant changes in daily operations for local citizens, sanitation workers, or supervisors. This ensures a smooth transition to the new smart waste management system[2]).

Security and Compliance Framework

Ensuring the security and compliance of the system is crucial for Antariksh Waste Ventures. Here are some aspects of their security framework:

The company uses NB IoT technology, which is more reliable and secure compared to LoRa technology. This change was made to address issues like power cuts and to enhance the overall reliability of the system[2]).

The data collected from the sensors and IoT modules is securely transmitted and stored, ensuring that the information remains confidential and is used only for improving waste management processes.

Innovation in its Industry

Antariksh Waste Ventures has brought significant innovation to the waste management industry. Here are some key innovations:

• Introduction of IoT-powered smart garbage bins that can monitor waste levels and notify stakeholders when the bins need to be emptied[4]).
• Use of NB IoT technology to improve the reliability and efficiency of the system[2]).
• Development of a non-intrusive system that does not significantly alter daily operations for citizens and sanitation workers[2]).
• Aiming to deploy 1 million smart bins in 100 smart cities across India to significantly improve waste management and recycling efficiency[2]).
• Improving waste recycling percentage by implementing technology in the waste ecosystem supply chain[2]).

Company Market Impact

Antariksh Waste Ventures Pvt Ltd is making a significant impact in the waste management sector in India. Here’s how they are affecting the market and the people involved.

User Base Growth

Antariksh Waste Ventures is expanding its user base rapidly by targeting various segments. They are focusing on smart cities, gated communities, industrial zones, universities, and townships. The company's smart garbage bins, known as AirBins, are designed to interact with citizens, sanitation staff, and administrators through dedicated smartphone apps[6].The user base includes sanitation workers who are empowered with technology to perform their jobs more efficiently. These workers can now execute their daily operations smartly and earn performance-based bonuses for their hard work. This approach has improved the working conditions and recognition of sanitation workers, a group that has been under-appreciated and under-equipped in the past[6].Additionally, citizens are actively contributing to the smarter waste management ecosystem. The AirBins system allows citizens to report issues and participate in maintaining a cleaner environment. This engagement has led to better living conditions and a more respectful relationship between citizens and administrators[6].

Market Share Expansion

Antariksh Waste Ventures is aggressively expanding its market share by deploying AirBins in multiple cities. They plan to deploy these smart bins in 99 smart cities in India and various municipal corporations around the world. The increasing urbanization and the pressure from the social media generation for real-time services have created a high demand for better waste monitoring systems[7].The company is also conducting pilot projects in cities like Chennai to test and refine their technology. These pilot projects have received positive feedback from local authorities, such as the Greater Chennai Corporation, which emphasizes the importance of efficient waste collection systems[8].Here are some key areas where Antariksh is expanding its market share:

• Smart Cities: Targeting 99 smart cities in India and globally.
• Municipal Corporations: Collaborating with local bodies to improve waste management.
• Gated Communities: Providing solutions for residential areas.
• Industrial Zones: Implementing smart waste management in industrial settings.
• Universities and Townships: Expanding to educational and residential townships[7].

Financial Inclusion Initiatives

Antariksh Waste Ventures is working on financial inclusion initiatives to make their smart bins accessible to a wider audience. The company earns revenue through the sale of smart bins, alerts, and advertisements in the app. For municipalities, they propose financing models through Non-Banking Financial Companies (NBFCs)

[8].The cost of smart bins is higher than traditional containers, but the long-term benefits of efficient waste management and the potential for job creation make them a valuable investment. According to Mahek Mahendra Shah, the founder, the company aims to create thousands of professional jobs in India by improving the waste management ecosystem[7].Here are some financial inclusion initiatives:

• NBFC Financing Models: Offering financing options for municipalities.
• Job Creation: Aiming to create thousands of jobs in the waste management sector.
• Performance-Based Bonuses: Providing bonuses to sanitation workers for their hard work.
• Revenue from Alerts and Ads: Generating income through the app’s alert system and advertisements[8].

Company Financial Journey

Antariksh Waste Ventures has had a notable financial journey since its inception. Here’s a look at their revenue growth, path to profitability, and investment rounds.

Revenue Growth Story

The company's revenue growth is driven by the sale of AirBins and the services associated with them. They generate revenue from the sale of smart bins, as well as from alerts and advertisements in the app. The pricing structure varies depending on the customer segment, with municipalities being offered financing models to make the smart bins more affordable[8].Antariksh Waste Ventures has been bootstrapped and has received grants from the IIT Madras Incubation Cell since April 2018. This support has helped them develop and deploy their smart bin system. The company was also shortlisted for the Qualcomm Design in India Challenge 2019, which further boosted their financial stability[8].Here are some key points about their revenue growth:

• Sale of Smart Bins: Primary source of revenue.
• Alerts and Advertisements: Additional revenue streams.
• Grants and Awards: Financial support from incubation cells and awards.
• Financing Models: Offering financing options to municipalities[8].

Path to Profitability

Antariksh Waste Ventures is on a path to profitability by scaling their operations and expanding their market reach. They aim to deploy 1 million smart bins in 100 smart cities in India over the next five years, which will significantly increase their revenue. The company also plans to improve India’s recycling efficiency from 28% to 50% by implementing their technology in the waste management ecosystem

[7].The pilot projects and initial deployments have shown promising results, with positive feedback from local authorities. This indicates a strong potential for long-term profitability as the demand for smart waste management solutions continues to grow[8].Here are some steps towards profitability:

• Scaling Operations: Deploying smart bins in more cities.
• Market Expansion: Targeting various sectors like smart cities, municipalities, and industrial zones.
• Improving Recycling Efficiency: Aiming to increase recycling efficiency in India.
• Financial Support: Receiving grants and awards to support their growth[7].

Investment Rounds and Valuations

Antariksh Waste Ventures has received significant support through grants and awards. While specific details about investment rounds and valuations are not readily available, the company's growth and recognition suggest a strong potential for future investments.The company was incubated in January 2018 and received grant support from the IIT Madras Incubation Cell. Being shortlisted for the Qualcomm Design in India Challenge 2019 also highlights their potential and attractiveness to investors

[8].Here are some key points about their investment and valuations:

• Incubation Support: Received grants from IIT Madras Incubation Cell.
• Awards and Recognition: Shortlisted for Qualcomm Design in India Challenge 2019.
• Future Investment Potential: Strong potential for future investments due to their innovative solution and market demand[8].

Company Strategic Partnerships

Antariksh Waste Ventures has formed several strategic partnerships to enhance their operations and reach.

Banking Collaborations

Antariksh Waste Ventures collaborates with financial institutions to offer financing models for municipalities. This partnership helps make the smart bins more affordable for local bodies, enabling them to adopt the technology without significant upfront costs.For example, the company proposes NBFC financing models for municipalities, which allows them to purchase the smart bins through financing options rather than outright purchase[8].Here are some key banking collaborations:

• NBFC Financing Models: Offering financing options through non-banking financial companies.
• Municipal Financing: Collaborating with local financial institutions to support municipal purchases.
• Grant Support: Receiving grants from incubation cells to support their financial needs[8].

Merchant Partnerships

Antariksh Waste Ventures partners with various stakeholders to ensure the effective deployment and maintenance of their smart bins. These partnerships include collaborations with local authorities, such as the Greater Chennai Corporation, and organizations like Resilient Chennai, which is part of the 100 Resilient Cities initiative

[8].These partnerships help in the smooth deployment and operation of the smart bin system, ensuring that the technology is integrated effectively into existing waste management systems.Here are some key merchant partnerships:

• Local Authorities: Collaborating with municipal corporations like the Greater Chennai Corporation.
• Resilient Cities: Partnering with organizations like Resilient Chennai.
• Community Engagement: Working with community groups to ensure citizen participation[8].

Technology Alliances

Antariksh Waste Ventures has formed technology alliances to enhance the capabilities of their smart bins. The company works with technology mentors and partners, such as Prof. Boby George and Prof. Palaniappam Ramu from IIT Madras, and Dr. Rajan Srikanth from Keiretsu Forum

[7].These alliances help in the development and refinement of the AirBin technology, ensuring that it meets the specific needs of Indian cities and their waste management challenges.Here are some key technology alliances:

• IIT Madras Mentors: Working with professors from IIT Madras.
• Keiretsu Forum: Collaborating with Dr. Rajan Srikanth from Keiretsu Forum.
• Technology Development: Enhancing the AirBin technology through these partnerships[7].