Ridaex Systems | Futuristic Smart Televisions that will make you feel lag-free for the next five years – Assured
- ByStartupStory | April 1, 2022
“We try to follow a syntax of 4 C’s, We the people with great Culture, because culture is what defines us; Communication, is a medium for us to express our culture, thoughts, and ideas right from white matter to gray matter of our patrons; Confidence, will take us closer to our everyday dreams; and Commitment is a pledge to stay dedicated to everchanging TIME, said Naveen Srinivas, CEO of Ridaex in an exclusive interview with Startup Story.
Naveen Srinivas is an entrepreneur by profession and an expert in SMART TVs & Conferencing Technology Manufacturing in India. He has done his highest education like Master of Computer Applications, and currently, he is also pursuing his Strategic Sales Management of IIM, Indore. Again proved, learning is continuous. His schooling is done from one of the best schools by Central Government India i.e., Jawahar Navodaya Vidyalaya, Kolar. Before working with Ridaex, he worked at Accenture as a Network Security Analyst in 2015.
Ridaex is a Bengaluru-based Super Smart TV Manufacturing Company.
Their core product principles are:
- Future scalable Smart TVs
- Fail-safe design & architecture
- Flagship & latest technology standards
- Superior built quality
- Hyperlocal services
- Affordable & value for money.
In 2019, Ridaex won its first award “The Best Startup Award for Quality Excellence” by India5000 later on in 2021, Ridaex was again recognized by Karnataka Business Awards as “Best Smart TV Manufacturers”.
Journey Towards the Ridaex
Back to 2017 “Ridaex is not a company that I have started, it’s a company that I have acquired to save its customers. Before this, Ridaex was owned by friends from Delhi. I used to work as an E-commerce partner for them.
Due to a lack of after-sales services and a lot of business challenges. We proposed the acquisition of Ridaex. By 8th Feb 2017 we had acquired the company “, said Naveen Srinivas, CEO Ridaex in an exclusive interview with Startup Story. In 2020, Ridaex Arya I was launched, flagship hardware, software, and a global level challenging Smart TV. From Sept 5th, 2020, to date, they don’t have a single competitor coming even inch closer to them in terms of Technology. What about Samsung, Sony, Xiaomi? These big giants don’t have enough tech to compete? Or its just Ridaex being blind and blunt in terms of their thoughts and market research?
Just to remember again! Ridaex never commoditized its products, Arya I QLED Smart TVs are derived from the values and core principles of Ridaex, that are mentioned above.
“We just don’t want our televisions to be put for the show on the walls of Indian homes, we want them to be used in all possible applications just starting from entertainment to enabling video conferencing and signage displays. Just like the workhorses”
In aspects of technology, innovation, the passion being put forward towards the Smart TVs, they have been doing best. The company has grown at least 7-8 folds in the past two years even during the hard pandemic.
Business during pandemic
For Ridaex it had a positive effect. Lockdown has given Ridaex and Arya 1 Smart TV wings to fly and the company performed well during COVID-19. They were unable to supply their units to the customers in the initial stages but later once logistics restarted, they were able to start supplies.
Meanwhile, the demand increased due to online classes and work from home whereas Ridaex Arya 1 had built Smart TVs that could facilitate video conferencing.
Uniqueness of Ridaex
Television is their only major product. Futuristic televisions have capabilities like higher computing as well as higher capabilities of entertainment. It’s not made to be used just like a normal TV but more like a gadget. And finally, the X-Factor is “The World’s First Hardware Upgradable Televisions”.
“We want to bring a revolution in India, in terms of the television industry especially. Since a lot of Chinese brands are dumping highly inefficient devices. It’s important that with products, we also have to carry a lot of responsibility and build a sustainable brand for this society. Currently, we are well specialized in TVs but in the future, we are going ahead with other products which will be included in the Ridaex ecosystem.”, said Naveen Srinivas, CEO Ridaex in an exclusive interview with Startup Story.
Ridaex plans to include Smart fitness and Family track as their first integrations and later with Smart Refridegrators and Smart Air Conditioners to the ecosystem.
Future Plans
Currently, Ridaex Arya I televisions are used by many government organizations because of the need for products that are completely Made In India and secondly to bridge communications between different organizations during any uncertain events such as COVI-19. Ridaex has supplied its Smart TVs to the Govt Of Karnataka and a few central govt organizations such as DRDO and Indigo Airlines which is one of the most famous airlines in India, etc.
They have come a long way from the research phase to the growth phase, they have seen the attraction and have the taste of what the Indian market needs and wants to scale. They are working towards raising seed round funds for Ridaex as of now so that they can scale up in retail from the market from coast to peaks of India.
“By 2025, I have to make sure that we are in every Tier III city of India. By 2023, I have time to make sure that we are in every Tier II. Like Tata, we have been inspired by them that our products and parts should be heard everywhere. Whatever force it needs from my side, I am ready to put it day in and out.”, said Naveen Srinivas, CEO of Ridaex in an exclusive interview with Startup Story.
At the end of the conversation, Naveen shared a message to budding entrepreneurs: –
Guys, please trust in Indian products, if we don’t build Indian products today, then nobody is even going to build them because of the fast-forward eastern monopoly. It’s not late, But it’s the right time. This is my agenda that I am building a powerful consumer brand here, even you need to get inspired. I got inspired by my dad’s words Made in India, I once used to ignore the depth in the words “Made in India” and always condemned when I was unaware.
But I got inspired when I came to a certain age and started seeing the real world. I wish even you people can find some kind of inspiration in make in India products because in terms of quality we are the real benchmark remember! and there are tons of youth with mind-boggling talents in India. Proper validation and persistence are one of the biggest things which Indian Entrepreneurs are missing. Founders like “Ankur Warikoo” sir, are giving emotional support to entrepreneurs that are important and secondly money is not everything.
Money is in the air; ideas are what we need!
If we have ideas, validation, persistence, and networking automatically everything will come. Everybody needs to have their kind of realistic philosophies to make mother India feel proud.
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