Meet “Hivericks Technologies Pvt Ltd” from Chennai, a company built by a group of hardworking, passionate engineers with a mission to create simple but world-class products and solutions for a Greener Future. Their Patented product XOptimus is in itself unique. Using new-age technologies “Xoptimus” range of SMART chargers for your SMART devices (mobiles, laptops etc.) are designed to maintain charge levels of your battery at optimal levels at all times even if connected to a power source for longer durations.
Unlike market available chargers today, these chargers eliminate “trickle charge”, and with other features like Smart Calling, Battery Temperature monitoring etc., Xoptimus chargers are all set to change the way you play games on your device, work from home. Xoptimus GREEN chargers ensure safe charging and longevity of your batteries while saving energy and reducing Ewaste by almost 40% just by charging differently.
Hivericks Technologies Pvt Ltd is part of the HexGn Startup Ready Program. A six-month online Startup Acceleration program by HexGn in partnership with Invest India (AGNIi, and Startup India) to boost technology-based entrepreneurs from India. Incorporated in 2018 August, they are based out of Chennai and have been Incubated by CITIC (TREKSTEP a government initiative) in 2019 before joining the HexGn Startup Ready Program in 2020. As a testament to their strong potential, they were in the top 5 in CITIC (A NITI Aayog Initiative) startup challenge 2019 among 150 + applicants from Tamil Nadu.
Globally, technologies that can charge batteries faster and safely, without overheating or reducing the life of batteries is in very high demand. The new generation chargers are in very high demand by mobile phone and electric vehicle manufacturers. Hivericks has taken the first step to tapping into this multi-billion, high-tech industry.
The Hivericks Technologies team of co-founders Arun, Govind and technical embedded engineers have been friends since college, and along with co-founder Hemalatha with 15 plus years of experience in Industry, they make a great team with the right attitude, a mix of skills and determination to succeed in this competitive business.
Sustenance, managing Op-ex and retention of their employees during this COVID has been their most significant challenge with multiple roadblocks to their business plan for Pilot and Market launch, including logistics, procurement and fundraising.
As for advice to future entrepreneurs, the Hivericks founders recommend, market testing your idea or conducting a survey to see different perspectives of your idea/concept before venturing into development of the product itself is very important. Building a hardware prototype is in itself expensive, and you may be addressing a problem that is redundant or not a real pain point for customers. Hence Defining, studying your target market and knowing what they need is critical to designing the Minimum viable product first few iterations. According to them, It’s not enough to be an excellent technical entrepreneur. You need to manage your cash flow and know your numbers. For keeping the team together during Covid, they have multiple team meetings to discuss issues and find solutions for day to day operational issues as well as short/long term strategy and roadmap. They have adopted the Agile methodology, and this automatically breaks down problems to smaller solvable problem statements reducing stress.
On what they would do differently, if they could go back in time, “If we go back now, we would have applied a different funding strategy to fuel our prototype development. We took up many client projects to get additional revenue for our own development without researching enough on seed funding or grants etc. We also spent little time effort getting market feedback on our product idea. This resulted in multiple iterations of our prototype before we could reach an MVP variant that we could sell,” Says Hemalatha, co-founder of Hivericks.