ZUG, Switzerland & GENEVA & NEW DELHI--(BUSINESS WIRE)--WISeKey International Holding Ltd (WIHN.SW) (“WISeKey”), a Swiss based cybersecurity company and Bajaj Electricals Limited (BEL), India’s leading consumer durable and lighting company today announced their intention in New Delhi, at the India Economic Summit, to create the first ever IoT Trusted Platform connecting to a secure cloud approximately 100 million consumer & industrial products in the first phase of WISeLight IoT Platform.
Through this partnership, WISeKey will create approximately 100 million Digital Identities of the SKUs that Bajaj Electricals has market leadership in the Lighting segment in India. The WISeLight IoT Platform will enable a digitally certified eco-system for connected objects, in the cloud, not only making the BEL a differentiated player in the Indian market but a stand out position in the global arena as well. These digitally certified and connected appliances or objects, will be a step amongst many, that one of the oldest business conglomerates of India will embark upon in the journey of Digitization of the Core of Business and in spirit of the Digital India Campaign of the Government of India.
“No industry is being disrupted more than lighting by the Internet of Things, in the world market. It is estimated that there are 12 billion ‘end-points’ in homes, enterprises, industrial facilities and retail locations, making lighting the most ubiquitous network of connected devices on the planet and the perfect platform for IoT. Our cooperation with WISekey will allow BEL to become a major IoT platform in India,” said Anant Bajaj, Joint Managing Director of Bajaj Electricals Limited. “Through the Smart Indoor and Connected Outdoor products, BEL would enable its customers to embrace the latest technology in LED range and smart products, providing complete solutions for all lighting needs of our customers and markets - Commercial, Industrial, Cityscape, Sensors, Solar or IBMS.”
“The WISeLight IoT Platform will shift this sector from a hardware-centric model, as the world moves, to delivering IoT lighting secured with sensors and embedded microchips, detecting and interacting with its environment in real-time. This will be enabled using crypto-based asymmetric keys based in the cloud and on each product, the handshake of which will produce a Certified Authority issued Digital Certificate. Smarter lighting saves up to 80% of energy consumption. Secured with WISeKey semiconductors and identities that communicate with other connected devices and systems and supply chain applications for inventory tracking,” said Carlos Moreira, CEO of WISeKey.
About Bajaj Electricals Limited
Established in 1938, Bajaj Electricals Limited (BEL) is India’s leading consumer durable and lighting company. BEL is part of the US $20 billion "Bajaj Group" – a conglomerate with over $20 billion in sales for 2015. BEL’s revenue in 2015 grew over 8% reaching Rs. 4611.95 crores versus the previous year. BEL has 19 locations in different parts of India and is supported by a chain of over 5000 distributors and authorized dealers, over 3 Lakh retail outlets for Lighting, over 1 Lakh retail locations for Consumer Durables, and also 106 Bajaj Worlds and 389 Customer Care centers.
About WISeKey
The WISeKey India presence is through a Joint Venture incorporation and deployment includes the development of a full Root of Trust and Public Key Infrastructure (“PKI”) for WISeKey India including a globally trusted Certification Authority under the “Digital India Vision,” a campaign launched by the Government of India that has taken major initiatives to make the country e-ready by initiating various e-governance implementations across the country like automation of income tax, passport, Company Law, e-procurement and bidding etc. Public Key Infrastructure forms the backbone for all these initiatives
WISeKey (SIX Swiss Exchange:WIHN) is a leading cybersecurity company and selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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