Radius Synergies International Pvt. Ltd: Prepaid Smart Metering in India

Radius Synergies International Pvt. Ltd. (RSIPL), which came into existence in 2010, was a pioneer in implementing prepaid smart metering solutions in Delhi, National Capital Region (NCR), India. RSIPL was created as an independent entity to focus on harnessing contemporary technologies such as the Internet of Things (IoT), machine-to-machine (M2M) communication, cloud computing, and mobility and leveraging them for the energy market that its parent, Radius Group (Radius), had been serving through conventional products and solutions for more than two decades. Though the company faced many challenges with respect to the use and acceptance of the new technology, it had still been successful in implementing the solutions and had been able to achieve consistent growth in its annual revenues. On March 21, 2022, Mr. H. S. Singh, RSIPL’s managing director, had a meeting with his executive management team to discuss the strategy for expanding RSIPL’s smart metering solutions and leveraging the IoT platform developed for additional potential business opportunities. Should the company try to obtain external funding? Should it focus on increasing market reach for existing products and solutions or venture into new products or services that could be spin-offs of the IoT platform and expertise developed so far?