Are you tired of asking driving directions? Are you tired of locating a business? VidTeq is here to help you out. In a conversation with YourStory.in, Chandra Thimmannagari, Founder of VidTeq tells us how.
Tell us about VidTeq.
We are a 3 year old startup in the field of Navigation, Location and Local Search. We build VideoMaps, Digital Maps and Search database for Navigation and Locational needs. We provide VideoMap(it’s a patented technology) based navigation, location and search solutions for businesses. We provide video directions based on our VideoMap technology. Log on to www.vidteq.com to get your FREE video directions for Bangalore City.
What is VidTeq’s market differentiator?
Our key differentiator being, we provide driving directions by providing a video clip of the complete route from a given source to a given destination. We provide this based on our VideoMap technology. We are the first ones in the world to come up with this technology. This technology is patented both in India as well as USA.
Why did you start VidTeq? How much capital was required to implement the idea?
We wanted to do something in the field of Navigation. We knew that the solution that exists in the west (USA etc.) wouldn’t apply for country like India. In countries like USA, just carrying text directions would help you reach your destination but the same thing wouldn’t apply for country like India. The main reason being, most of the streets in India do not carry street names. This is when we thought that the best solution for India would be to provide a video clip of the complete route. We believe, once you watch a video clip of the route, it retains in your memory thereby helping you reach your destination in a hassle free manner. Once you watch a video, you feel like you have already been on that route once, thereby helping you reach your destination in a hassle free manner.
Chandra, tell us about your background. I have over 17 years of experience in the field of Microprocessor design. I hold a B.E. in Electronics and Communications Engineering from Manipal Institute of Technology, Manipal, India and MS in Electrical Engineering from Texas A&M University, Texas, USA. I have held several engineering and management positions at various technology companies such as Intel, AMD, Sun Microsystems and Cradle technologies. I have a total of 11 approved and 14 pending approval Patents in the field of Microprocessor design. I have also authored “CPU Design: Answers to Frequently Asked Questions” published by Springer Publications.
Please share with us the various services that you offer.
Today we have more than 100 customers using our web products and services. Most of the top builders, Resorts, Schools and Colleges are our customers today. We have the following web based products - Wayfinder, Store Locator, e-Visit, and VidCorp. Wayfinder is a route map solution for any business which has a website. Store Locator is a store locator service for retail chains. E-Visit is a virtual visit and category search service for the Real Estate firms. VidCorp is a product for the Corporate world. All web services work on an annual subscription model. Our key value proposition to businesses - Unique service (VideoMap) to their customers; can increase their customer footfalls.
Where do you see VidTeq five years from now?
5 years from now I see more than 50% of active NLS internet users(NLS – Navigation, Location and Search) in India using our service. By then we expect to be in all Tier1 and Tier2 cities.
What is your revenue model?
Today we generate revenues through our web products and services. All web services work on an annual subscription model.
Have you been funded?
Yes, we are close to raising our first round of VC funding.
As an entrepreneur, what are your joys? What are the challenges?
Every little thing that happens within the company is a joy for me – raising money through friends and families, taking the product live for the first time, signing up your first customer etc. Some of the challenges were – signing up our first customer, raising money from a VC, hiring and holding on to smart people etc.
How big is your team?
We have a total of 15 employees. The team is split across 4 departments - Software Development, Video and Image Processing, GIS and Sales & Marketing. Software development team is responsible for technology development along with supporting S&M requirements. Video & Image processing team is responsible for all the Video and Image post-processing activities. GIS team is responsible for Digital Map readiness. It is also responsible for field survey and raw video/image capture activities. S&M team is responsible for all the sales and marketing related activities.
Are you looking at hiring?
Yes, we are hiring. We are looking for good software engineers and sales people. By end of this financial year we expect our team size to be around 40 people. Please do send your resumes to email@example.com if you are interested.
Share with us your expansion plans.
This financial year we plan on expanding to 2 other cities – Chennai and Pune/Hyderabad. Also, we plan on taking our cell app to production.
Anything else you want to share with our readers?
Today we have more than 100 customers using our web products and services. Our website (www.vidteq.com) attracts around 500K Visits every month. This stat is per City (today we are LIVE only for Bangalore City). Most of our user base is from Bangalore City. We expect our visits and user base to grow exponentially as we expand to other cities.
Log on to www.vidteq.com to get your free video directions for Bangalore City.