Gurgaon-based startup Arista Vault has developed a unique smart wallet called ‘SheBot’ for women which can be tracked through the phone in case of theft or loss. The smart wallet is connected through an app with the smartphone via BLE 4.1 wireless which sends a notification to the user and tracks its location. The startup has received mentorship and financial assistance under the Electropreneur Park- a collaboration of Software Technology Parks of India (STPI), University of Delhi and India Electronics and Semiconductor Association. Initially, the initiative aimed at supporting 50 startups in the domain of electronics product design and development over a period of five years.
“We would like to congratulate Arista Vault for launching ‘SheBot’ a one-of-its-kind smart wallet. Arista Vault is among the eight electronic hardware entities shortlisted by Electropreneur Park which has been established to contribute to the ESDM growth story of India. It is in line with our commitment to guide early-stage startups and usher in an innovative ecosystem to catalyze entrepreneurship and contribute towards economic development, said Dr. Omkar Rai, Director General-STPI.
SheBot was especially launched on the occasion of International Women’s Day to underscore the startup’s commitment towards women’s safety through leveraging best-in-class technology. A part of the wider smart wallet series, SheBot’s outer covering is made of leather and is priced from INR 4000 onwards. The product is available on the Arista Vault website and Amazon.
“We are thankful to STPI for their end-to-end mentorship and support. The unique wallet underscores our commitment to redefine the technology landscape and ensure a safe and hassle-free experience for women. As a responsible organization, we embody innovation as our core philosophy and aim at the creation of a value chain to enhance customer experience,” Arista Vault co-founder and CEO Ms. Purvi Roy, said.
Founded in April 2018, Arista Vault was incubated by STPI in January 2020 and received funding of INR 29,00,000/- from Electropreneur Park and SASACT” (Scheme for Accelerating Startups around Post COVID Technology Opportunities). Arista Vault had earlier developed ‘Shuddhi Box’- a disinfectant device at half the price of conventional devices to sterilize items such as mobile phones, currency notes and masks.
The electronic market in India is foreseen to reach $400 billion by 2025 fuelled by a high growth rate of the economy and the emergence of a vast domestic market catering to the millennials. Electropreneur Park has been established with an objective to help companies in the Electronics System Design and Manufacturing (ESDM) sector to establish their base in India and cater to import and export demands. Electropreneur Park set up a state of the art incubation lab for nurturing these startups. It has successfully led to the inception of 44 start-ups, 33 new products and 19 patents in the last four and a half years of its operation. With around 65 per cent of graduated startups in the revenue phase, the total revenue generated by these startups is over INR 46 crore with a total valuation of INR 250 crore. With these value propositions, India is poised to become an Electronics System Design and Manufacturing (ESDM) hub to cater to import as well as export demands.
