Pitch- Harshad Naik, 1711018-Detech Technologies

The company that I want to invest in is Detect Technologies. The startup was founded
in 2013 in the IIT Madras incubator by its alumni Daniel Raj David, Tarun Mishra, Harikrishnan
AS, Karthik R, and Professor Krishnan Balasubramanian. It began with the premise of
becoming a global leader in the asset integrity and monitoring solutions.
The two main problems that they are trying to solve are that of pipeline leakage and
corrosion as well as inspection of large volume assets. The company has raised $3.3 Million
from SAIF partners and is looking to expand its employee headcount to double by the end of
next year.
The company presently has two products. The first product is called GUMPS (Guided
Ultrasonic Monitoring of Pipe Systems). It is the first sensor that can monitor changes in
pipeline thickness in real time by using machine learning algorithms. This product is beneficial
in dealing with issues such as pipeline leakages which often cause companies/refineries in the
oil and gas sector losses worth $1-2 million and lead to a lasting environmental impact. The
unique feature that makes GUMPS so attractive is the fact that it can operate in temperatures
more than 300 degrees Celsius.
The second product that they have is called NOCTUA which is an industrial drone
which has been tailormade for process industry inspections. It conducts automated visual and
thermal inspections of any industrial infrastructure & it significantly reduces the maintenance
and inspection efforts such as scaffoldings, etc.
The market that they are targeting is the Artificial intelligence Market in the Oil and
Gas Market which is estimated at $1.57 Billion in 2017 (report published by
MarketsandMarkets) and is projected to grow to $2.85 Billion by 2022 at an expected growth
rate of 12.66%. The two products of this company, GUMPS and NOCTUA are targeted
explicitly at the predictive maintenance and machinery inspection segment which is expected
to be the largest segment in AI in Oil & Gas Market, by function.
One of the important things this company has done is that it spent five years making
sure that their technology is robust and industrially ready. The company has won prestige
clients such as Reliance which has helped them expand rapidly. They are also growing in the
Middle East and Southeast Asia which are the biggest markets of oil refineries currently.
The company has a 80 member team, with 50 permanent employees with operations
in Chennai, Bangalore, Jamnagar and the UK (London and Aberdeen). They have clients within
India and are also working with four other countries-USA, UK, Portugal, and Singapore. Based
out of IIT Madras which has been a hub of hardware innovations, the founding team consists
of Professor Krishnan Balasubramanian who was recently awarded the Abdul Kalam
Fellowship and has extensive knowledge of the area of acoustics and ultrasound with 410
technical publications and 17 patent filings. The entire team at this start-up has extensive
experience of deep tech, and therefore this start-up is well placed to grow in the future.