India바카라s financial landscape is undergoing a profound transformation. As investors diversify their portfolios beyond traditional physical assets, the question of safeguarding valuables remains largely unaddressed. Traditional bank lockers, long considered the standard for secure storage, are plagued by limited availability, inconvenient access, and bureaucratic hurdles.
Recognizing this gap, Aurm is revolutionizing wealth protection with smart, automated, and easily accessible safe deposit lockers located within gated communities. This ensures seamless security and convenience, enabling individuals to safeguard their wealth with advanced technology.
In this special feature episode of Crafting Bharat, Amit Somani, Managing Partner at Prime Venture Partners, speaks with Vijay Arisetty, co-founder of Aurm on the challenges faced by urban India and the innovative solutions designed to meet their need for secure wealth protection. Vijay brings a different blend of military precision, fintech expertise, and entrepreneurial vision. A former Indian Air Force helicopter pilot, Vijay transitioned to the corporate world in 2011 and, in 2015, co-founded MyGate바카라a platform that transformed security and visitor management for gated communities.
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Can you tell us a little about your journey into entrepreneurship?
I come from an armed forces background and served in the Indian Air Force for 10 years as a helicopter pilot. In 2010, a medical injury forced me to make a tough decision바카라either continue with ground duties or look for a completely different career path. I chose the latter, pursued an MBA, and later joined Goldman Sachs, where I worked from 2011 to 2015.
My transition into entrepreneurship wasn바카라t planned. One day, I noticed delivery personnel waiting in long queues just to enter my gated community. That바카라s when I thought, 바카라Can technology solve this problem?바카라 That simple question led to MyGate, a security platform that streamlined visitor management and transformed how gated communities handle access.
What lessons did you bring from the Air Force into entrepreneurship?
One of the biggest lessons I carried over from the Air Force is 바카라airmanship바카라바카라a skill that goes beyond just flying an aircraft. It바카라s about maintaining complete situational awareness, adapting to changing conditions, and making quick yet precise decisions.
As pilots, we were trained to constantly observe, gather data points, and anticipate challenges before they arise. This habit of staying alert, thinking ahead, and responding decisively has been invaluable in my entrepreneurial journey. Whether it was navigating the complexities of building MyGate or now scaling Aurm, this mindset has helped me stay ahead of the curve, anticipate market needs, and build solutions that truly address real-world problems.
How did the idea for Aurm come about?
The idea for Aurm came from my experience with MyGate. Engaging with nearly 4 million residents in gated communities, I noticed a common problem바카라affluent urban dwellers lacked secure storage options for their valuables. Traditional bank lockers were not a viable solution due to limited supply and restrictive access. In areas like Bellandur in Bangalore, with over 50,000 homes, only 790 bank lockers were available. We approached banks to explore a collaboration, but they were uninterested. When banks told us they were moving away from investing in physical infrastructure, we saw an opportunity바카라why not build secure lockers as an enhanced feature within gated communities?
What makes Aurm different from traditional bank lockers?
Aurm makes securing your valuables much easier compared to a traditional bank locker. First off, you don바카라t have to travel to a bank바카라our lockers are right inside gated communities, so they바카라re always close by. Plus, you바카라re not restricted by banking hours바카라you get 24/7 access to your valuables whenever you need them.
The best part is that it바카라s fully automated, like an ATM. There바카라s no human intervention, so only your locker is retrieved and presented to you. And unlike banks, there바카라s no fixed deposit requirement or endless paperwork바카라signing up is quick and hassle-free.
We offer the security with biometric authentication, AI-powered surveillance, and intrusion alarms. Also every locker comes with ₹25 lakh insurance, so your valuables are not just secure, but also covered.
What has been the consumer response so far?
The response has been amazing! We바카라re currently live in seven communities, and honestly, the demand has been beyond what we expected. In every location, the first 100 lockers sold out within two weeks, and there바카라s always a waiting list of 50+ customers.
One thing that really stands out is how much women appreciate the 24/7 access. Many have told us they feel safer using Aurm lockers at any hour, which is a huge shift from the restrictions of traditional bank lockers. For me, one of the most rewarding moments was seeing women confidently accessing their valuables alone at night바카라something they wouldn바카라t have felt comfortable doing in a bank.
What바카라s Next for Aurm?
We바카라re expanding fast! There바카라s demand from more communities and even interest from real estate developers. Over the next few months, we will be bringing Aurm to more cities and residential communities, making wealth protection more accessible than ever.
Beyond securing wealth, we바카라re also in discussions with leading banks and financial institutions to integrate financial services. Looking ahead, the vision is to evolve Aurm into a holistic financial security hub바카라a seamless blend of innovation, automation and tech-enabled wealth protection solutions that grows with our customers' needs.
This conversation is a reminder that successful businesses aren바카라t built by following trends바카라they are built by solving real problems that impact people바카라s lives. At Crafting Bharat, an initiative by NewsReach, our mission is to amplify stories of innovation and resilience, bringing forward conversations that inspire the next generation of founders. We will continue to spotlight entrepreneurs like Vijay Arisetty, whose work is shaping the future of Bharat.
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