What was the concept/idea behind establishing Detect Technologies? What were the challenges faced during the early inception years?
The concept behind starting Detect was that we wanted to build patented technologies to do both, people and asset integrity monitoring across the industry. During our graduation from IIT Madras, we realised that there is abundant technological talent in our country, but most of them go and work abroad. With Detect, we wanted to retain talent and build co-patented technologies. We wanted to make the oil & gas industry much better from the digital and technological perspective. As for the challenges, the industry wasn’t technologically advanced until very recently. So, there was scepticism towards accepting new technologies and they didn’t want to take a risk. Also, the industry is very capital intensive and considering that we started Detect in our college days, the funding was also a bit of a hinderance.
The usual practices in industries are run by complex processes and gigantic equipment that are expensive and unsafe as well. How do the products offered by you aid in overcoming the long-standing challenges faced by the industry?
In the oil & gas industry, the returns are high, but the risks are also higher. If you have leakages, it can lead to environmental damage; production loss per day is almost $2 million and worst of all is safety, which can be hazardous because of the protocols not being followed. Our range of technologies works towards extending the life of a plant accordingly. For example, our patented sensor can do complete pipeline monitoring in real-time, even in high temperatures, and it is the first in the world to do so. It solves the universal problem of pipeline and pipeline leakage and gives one real-time data and exact information on when the pipe might fail. We have also built drones that can do a complete inspection of these structures and safety monitoring of people as well.
What are some of the major achievements of Detect till date? Is there any noteworthy success story of yours that you would like to share with us?
I think our biggest achievement is that we have been fortunate enough to be prevalent and widespread in an industry that was once upon a time technologically constrained.
Aside from this, we are now present in the almost all oil syndicates in India and are working simultaneously for sectors, like mining, chemical, etc. We have raised a funding of almost $4 million and have partnered with some of the major companies like Reliance Industries, DMPL and more. We have nearly 13 R&D departments headed by some of the best minds in India and our technologies are getting deployed internationally as well. Currently, we are scaling up to other markets across the world.
Which are the current industries that you cater to and which are the ones that you wish to expand your services to in the coming years?
Beside oil & gas, we are currently scaling into steel, cement, fertiliser, petro-chemicals, chemicals and renewables. Basically, any process industry for that matter can operate our products.
What is the mission and vision of Detect Technologies? Where does the company see itself in the next five years?
Our mission & vision is to revolutionise the process industry sector by focusing on both the key components, assets and people. We will continue to build patented innovative technologies and accelerate towards making the industry more digitally forward. In the next five years, I see us having a plethora of products and being present in all the process industries/sectors all over the world. We see ourselves being a global leader in technology in the coming years.