Gurugram based tech startup Arista Vault innovatively integrates technology with wallets and bags to provide wealth and data security with a ‘Made-in-India’ sleek touch.
What may happen when a person loses his wallet? As unthinkable as it may sound, a data and wealth security company may come up. And that’s the origin story of Arista Vault, a 2017-born Indian startup. Retired Army Col. K.K. Singh onboarded designer Purvi Roy and the wallet-loss victim and finance guy Atul Gupta to launch this venture to create something unusual in India. The startup designs and develops smart wallets laced with embedded chips and signature circuit designs to prevent its loss.
Arista, in Sanskrit, means unhurt. “We are dedicated to the safety and security of the common people so that when they hustle, they don’t lose things. Features like loss alarm and location tracking are all embedded in the slim and user-friendly wallet made with design-engineered leather,” said Purvi.
Reportedly, 2.5 million mobile phones and wallets get lost each year in India. Arista Vault surveyed Delhi Metro and Mumbai locals to test the waters and got an affirmative public response to bring a security mechanism for their money, IDs, and other valuables.
In the beginning, the prototype of their entire Internet of Things (IoT)-enabled mechanism was big and bulky. But the dedicated R&D team, which Purvi considers to be the company’s USP, came up with a compact circuit design and schematics, making the final product look sleek from the outside but implanted with a lot of technology inside. The company claims that its average wallet weighs around 120gm and has a 3-year-long in-built battery life. But those with a mobile charge feature need charging. The pricing of these smart wallets starts at ₹1,200 and goes up to ₹7,000.