EroNkan Technologies Private Limited
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
EroNkan Technologies Private Limited - overview
Established
2014
Location
Ahmedabad, Gujarat, India
Primary Industry
Software
About
EroNkan Technologies is a provider of advanced digital solutions, focusing on optimizing manufacturing processes through innovative systems like the Weigher Management System (WMS). The company aims to enhance operational efficiency and reduce waste in the manufacturing sector. Founded in 2014, EroNkan Technologies is based in Ahmedabad, India, specializing in solutions for the manufacturing sector. The co-founders, Ketan Parekh and Vish Desai, have a background in technology and entrepreneurship.
The company raised INR 5. 80 million in funding from GVFL on May 18, 2018, reaching a total amount raised of INR 5. 80 million and a current valuation of INR 212. 69 million.
The firm has engaged in one significant deal up to this point. EroNkan specializes in advanced digital solutions for the manufacturing sector, primarily through its Weigher Management System (WMS) and associated process management systems. The WMS is designed to optimize primary packaging processes, significantly reducing equipment-generated waste (EGA) by up to 70%. It offers real-time Overall Equipment Effectiveness (OEE) monitoring, customizable reporting, and automated alerts, which enable clients to implement swift corrective actions and make informed, data-driven decisions.
EroNkan serves a diverse client base in the snacks industry, with notable deployments among major global brands, thereby addressing critical operational challenges related to manufacturing efficiency and waste management. The company operates in various geographical markets, focusing on key regions known for high snack production, including North America, Europe, and parts of Asia. EroNkan reported revenue of INR 379,901. 80 in 2023, alongside an EBITDA of -INR 49,229.
The firm's revenue generation strategy revolves around B2B transactions, particularly through partnerships with manufacturers in the food production industry. The company's revenue is structured around the implementation of the Weigher Management System, where clients pay for initial deployment and ongoing usage, which may include tiered pricing based on the scale of operations and the specific needs of the manufacturer. EroNkan plans to expand its product offerings by designing new features for its Weigher Management System (WMS) aimed at further enhancing operational efficiency, with expected rollouts in the coming years. The company is targeting expansion into new markets within Asia and Europe by 2025, leveraging recent funding raised in May 2018 to support these initiatives.
The funding will be utilized to enhance product development and market penetration strategies.
Current Investors
GVFL
Primary Industry
Software
Sub Industries
Systems Management Software, Analytics & Performance Software
Website
www.eronkan.com
Verticals
Big Data, Cloud Computing
Company Stage
Early Stage
Total Amount Raised
Subscriber access only
EroNkan Technologies Private Limited - timeline of key events
EroNkan Technologies Private Limited - financials
| Fiscal Year Ended | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 1,163,610 | 3,885,695 | 4,934,773 | 6,783,867 | 13,581,603 | 7,015,522 | - | - | - |
| % Revenue Growth (YoY) | - | 233.9% | 27.0% | 37.5% | 100.2% | (48.3%) | - | - | - |
| EBITDA (USD) | (2,066,386) | (1,871,959) | (4,276,474) | (4,848,997) | (13,633,708) | (12,804,282) | - | - | - |
| Operating Income (USD) | (2,070,950) | (1,876,523) | (4,382,217) | (4,997,666) | (13,926,503) | (13,066,054) | - | - | - |
| Operating Margin | (178.0%) | (48.3%) | (88.8%) | (73.7%) | (102.5%) | (186.2%) | - | - | - |
| % EBITDA Margin | (177.6%) | (48.2%) | (86.7%) | (71.5%) | (100.4%) | (182.5%) | - | - | - |
| NET Income (USD) | (1,431,819) | (1,338,681) | (3,416,256) | (4,956,646) | (13,926,503) | (13,066,054) | - | - | - |
| % Net Margin | (123.0%) | (34.5%) | (69.2%) | (73.1%) | (102.5%) | (186.2%) | - | - | - |
EroNkan Technologies Private Limited - employee data
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.