Cron Systems expects to break even this year

New Delhi, Feb 6 (PTI) Defence technology start-up Cron Systems expects a revenue of around Rs 19 crore from India only and reach break even by the end of current fiscal year, a top official of the co

New Delhi, Feb 6 (PTI) Defence technology start-up Cron Systems expects a revenue of around Rs 19 crore from India only and reach break even by the end of current fiscal year, a top official of the company said.

“Based on our order books, we expect to garner revenue of USD 3 million (about Rs 19 crore) from India alone in 2018-19.

We expect to break even in this fiscal year,” Cron Systems co-founder and CEO Tushar Chhabra told PTI.

The company provides Internet-of-Things-based border surveillance security solutions.

Chhabra said that Cron Systems is providing border surveillance systems to Indian paramilitary forces in areas like Jammu & Kashmir and is planning to target markets across Africa and Asia.

Cron Systems has expanded business overseas with the first business partnership in Bangladesh.

“We are very happy to announce our association with one of the most reputed and largest engineering, consultancy & services company in Bangladesh, Getco group. CRON systems has the technological capability and global answers to sensitive border security issues,” Chhabra said.

He said that the company develops products in India and export to global markets also.

The company plans to hire 30 engineers and invest USD 2 million to enhance product development capacity. “In terms of expansion, we are looking at markets in Africa and Middle East and modalities for the same is being worked on,” Chhabra said.

This is published unedited from the PTI feed.