"The global market of the RFID detection systems is $30 billion annually. Last year, our company's turnover was Rs. 200 crore and we are hoping it to grow as there is a large market in India as well as developing countries," said Hiren Bhandari, the Founding Director of Mantra.
According to Mantra officials, there is only 5 percent penetration of the total market as it's a growing industry. "The entire security industry is to the tune of Rs. 25,000 crore, of which biometrics consists of only Rs. 1,500 crore. Mantra leads the industry with almost 50 percent of the market," said Bhandari.
Mantra is also the pioneer of Aadhaar and its biometric devices are currently being used by the Indian government for social welfare schemes and also by the telecom and banking sectors for KYC purposes. The company is also developing an integrated device system based on fingerprint biometrics and behavioural biometrics, he said.
Mantra Softech is a global hi-tech manufacturer of biometric products and solutions. It offers a wide range of products in the biometric and RFID industry. This dream project of like-minded visionaries started in 2006 continues to push the envelope on biometric system capabilities. Customer's rapidly growing requirements for complex and sophisticated security system are the inspiration behind Mantra's Innovative products and solutions.
Globally recognized as one of the leaders in this field, Mantra continues to position itself as an innovation-driven brand. Mantra's product portfolio includes Fingerprint Sensors, IRIS Sensor, Integrated Fingerprint Devices, Integrated IRIS Devices, POS / MicroATM / Financial Terminal, IRIS Recognition in Mobile and many more biometric devices. New products and solutions are added every year in our services and in the product category to meet the future needs of business in terms of their security concerns. Our security solutions include Business Security Systems, Enterprise Security Solution, Integrated Security Solution, Access control system, Smart City Solution, Airport Solution, suitable for application in both SME and large enterprises.
Mantra is the pioneer of Aadhaar, enabling biometric devices which are currently used by the Indian government for the social welfare scheme, and also by telecom and banking sector for KYC purposes. Our manufacturing units are equipped with cutting-edge technology, intense automation and zero chance of human error. Mantra’s state-of-the-art, manufacturing facility is in Ahmedabad.
About Mantra Softech
Mantra is one of the few players in the industry to have successful R&D facilities to improve product functionality and develop new products which are future proof. As for quality standards, Mantra is committed to the core values of integrity, ethical practices, and responsibility towards customers and the environment. Brilliant quality and design achieved by the vision of our leaders, has led to the rapid growth of Mantra as a global brand and Mantra has now become a powerhouse of biometric innovations in just a few years even though it is just a beginning.