Reliance’s Unlimit targets $200 m in revenue by 2020

Internet of things (IoT) provider Unlimit, a part of the Reliance ADA Group, said it is expecting revenue of around $200 million by 2020 and will soon ramp up hiring.

The Mumbai-headquartered company — which employs around 85 people — will be hiring 100 more next year, Juergen Hase, Chief Executive Officer, Unlimit told BusinessLine.

“We are targeting a revenue of closed to $200 million by 2020 as we are growing in all the areas that we serve. We achieved this year’s targeted revenue in December,” Hase said, declining to disclose any figures.

According to sources, the company’s current revenue stands at less than $100 million.

Speaking on the sidelines of the MG Motor India event here, where Unlimit showcased its capability in connected cars, Hase said the market for connected vehicles will grow manifold in future.