Adloid eyes four-fold jump in revenue; plans to hire from IITs, IIMs

Augmented reality startup Adloid expects a four-fold jump in revenue to $4 million this fiscal, and plans to hire about 120 employees

Augmented reality startup Adloid expects a four-fold jump in revenue to USD 4 million this fiscal, and plans to hire about 120 employees.

The firm is also planning to recruit around 40 staff from IITs and IIMs.

The startup is currently doubling down on digital marketing channels for expanding footprints across multiple sectors in India and key markets abroad.

Adloid has joined hands with TCS and SAP for channel expansion in Europe and the US, with over 100 customer access and more than USD 10 million revenue potential.

"In two years, our platform will be used in India and some are from the US. Enterprises are looking to adopt our platform from an omnichannel standpoint. They want to give their customers a showroom experience while sitting at home. Now, the focus is on building up the product and that is the reason we are looking at hiring top talents," Adloid co-founder and chief operating officer Shorya Mahajan told PTI.

He said Hero Motocorp, Tanishq, Tata Motors, HP, and Titan are some of the companies that are using the Adloid augmented reality platform.

"Last financial year, we had revenue of USD 1 million. This fiscal year, we are at an annual run rate of USD 4 million," Mahajan said.

Last year Adloid hired around 40-45 employees from IITs.

"We have also started hiring for senior positions like for the position of vice presidents. We will be hiring 80 more people apart from 40 talents from IITs and IIMs," Mahajan said.

With fresh hiring, Adloid's total workforce is expected to increase to over 190 from around 70 at present.