Tech firm ZYFRA eyes $50 mn by 2021

Kolkata: For ZYFRA, a leading Finnish-Russian Artificial Intelligence (AI) and the Industrial Internet of Things (IIoT) solutions firm, India is fast emerging as the most important market, globally. The company, which, at present, does a business of $3 million out of India, has already set a target of taking this figure up to $50 million by 2021, said Pavel Rastopshin, Managing Director, ZYFRA.

ZYFRA's key fields are machinery, metallurgy, mining, oil & gas and chemical enterprises. It promotes readymade industry solutions in predictive analytics and data analysis, tech processes optimization, machinery and floor staff monitoring.

"We give the highest importance to India as its growth rate should stabilize at 8 per cent during the next decades, ranking the country as the world's fastest-growing economy. We have a strong presence in India with nearly 10 pilot projects presently being underway and 15 partners helping us in selling our projects. From here the presence is only going to increase as we recently received a confirmation from the Indian Railways, the largest railways network in the world, for tracking machine operation.

Our two new offices in India are located in New Delhi and Mumbai. Our Indian partners are also involved in the working process that includes introduction of technologies in the field. Now we are recruiting new employees," said Rastopshin.

VIST Group, a subsidiary of ZYFRA, is also planning to foray into Indian market with its smart mining solutions. The current advancement of intellectual solutions into mining is on average less than 50 per cent worldwide, and in developing countries, where this industry is most developed - only 25 per cent.