About HPS Lab Designs
HPS Lab Designs is a company based in Mumbai (India) founded in 2016 by Chandrashekhar Sakharam Sakpal, Gaurav Verma, and Shailendra Singh. HPS Lab Designs has raised $1.38 million across 5 funding rounds from investors including Vistra ITCL, HPCL and Refex Capital. The company has 51 employees. HPS Lab Designs offers products and services including Ajjas Pro, Ajjas Lite, and Ajjas Go. HPS Lab Designs operates in a competitive market with competitors including Samsara, Spireon, Inseego, Quartix and Swift Navigation, among others.
- Headquarter Mumbai, India
- Employees 51
- Founders Chandrashekhar Sakharam Sakpal, Gaurav Verma, Shailendra Singh
- Stage Minicorn
- SectorsIndustrial Goods & Manufacturing
- Email••••••••
- Website hpslabdesigns.com
- Social LinkedIn
- Legal Name Hps Lab Designs Private Limited
- Date of Incorporation 06 Jul, 2016
- Jurisdiction Navi Mumbai, Maharashtra, India
- Annual Revenue₹10.04 Cr
FY 2025 · +99% YoY
- Net Loss-₹1.37 Cr
FY 2025
- EBITDA-₹65.1 Lakh
FY 2025 · -6% margin
- Total Equity Funding$1.38M (USD)
in 5 rounds
- Latest Funding Round$597.35K (USD), Seed
May 2022
- InvestorsVistra ITCL
& 19 more
- Employee Count51
Associated legal entities of HPS Lab Designs
HPS Lab Designs operates through Hps Lab Designs Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Hps Lab Designs Private Limited CIN U72900MH2016PTC283344 | Active | 06 Jul 2016 | Navi Mumbai, Maharashtra | ₹10.0 Cr | 51 | 2 | View details |
Products & Services of HPS Lab Designs
HPS Lab Designs offers a comprehensive portfolio of products and services, including Ajjas Pro, Ajjas Lite, and Ajjas Go.
Advanced GPS tracking for fleet and asset management.
Basic real-time tracking for rental and delivery operations.
Simplified GPS solutions for OEM integration and monitoring.
Funding Insights of HPS Lab Designs
HPS Lab Designs has successfully raised a total of $1.38M across 5 strategic funding rounds. The most recent funding activity was a Seed round of $597.35 thousand completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.38M
- Total Rounds 5
- Last Round Seed — $597,348
- First Round $36,219
(Mar 2019)
- Investors Count 20
All 5 funding rounds of HPS Lab Designs with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2022 | $597,348 | Seed | $6.33M | Vistra ITCL, Refex Capital | |
| Apr 2022 | $340,764 | Angel Round | $6.16M | Timothy J Laing | – |
| Sep 2020 | $139,760 | Seed | $••••• | HPCL | |
| Oct 2019 | $260,935 | Seed | $••••• | Pravin Gandhi, Anirudh Malpani | |
| Mar 2019 | $36,219 | Angel Round | $••••• | Ashok Sherpa, Suneel Kumar |
| Date | Valuation | Stage |
|---|---|---|
| May 2022 | $6.33M | •••••••• |
| Apr 2022 | $6.16M | •••••••• |
| Sep 2020 | $••••• | •••••••• |
| Oct 2019 | $••••• | •••••••• |
| Mar 2019 | $••••• | •••••••• |
Full valuation and stage history of HPS Lab Designs
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $6.33M (May 2022). 20 investors in total: 7 institutional and 13 angel.
Investors in HPS Lab Designs
HPS Lab Designs has secured backing from 20 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Vistra ITCL, HPCL and Refex Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Multiple sectors are invested in by this private equity firm. | – | merlincapitaltechnologies.tcc.mode | Mumbai, India | |
Early-stage venture capital fund investing in innovative startups. | 2015 | refexcapital.com | Chennai, India | |
Private equity investments are managed by Solidarity across multiple sectors. | – | solidarity.in | Mumbai, India | |
Single family office fund investing in VC startups | – | shekmafamilytrust.tcc.mode | Mumbai, India | |
Venture capital and single family offices investing in multiple sectors | – | shekamafamilytrust.tcc.mode | - | |
Investment management and trustee services for financial instruments are provided. | 1995 | vistraitcl.com | Mumbai, India | |
Provider of petroleum and natural gas services | 1974 | hindustanpetroleum.com | Mumbai, India | |
TJ Timothy J Laing | - | – | unknown_a9a3cc81b0e444089 | - |
AS Amandeep Singh | - | – | unknown_9aeb5af05e1f4a15b | - |
AS Amandeep Singh | - | – | unknown_7b01b3f1309948b19 | - |
Investor details for HPS Lab Designs
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Verified entity values are shown only after access is granted.
Board of directors of Hps Lab Designs Private Limited (HPS Lab Designs)
Hps Lab Designs Private Limited is the primary company behind HPS Lab Designs. The board of Hps Lab Designs Private Limited currently have 2 directors; the longest-serving is Gaurav Verma, appointed in 2016. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Gaurav Verma DIN 02023071 | Director | 06 Jul 2016 | 10 yrs 3 mo | Hps Lab Designs Private Limited |
| Shailendra Singh DIN 06794883 | Director | 16 Jan 2019 | 7 yrs 8 mo | Hps Lab Designs Private Limited |
People of HPS Lab Designs
3 people are tracked at HPS Lab Designs (3 in leadership); the tracked headcount is 51.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for HPS Lab Designs
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of HPS Lab Designs
Figures of Hps Lab Designs Private Limited, the primary company behind HPS Lab Designs, for FY 2025. Revenue was ₹10.04 Cr (+99% year on year). Net loss was -₹1.37 Cr. EBITDA was -₹65.1 Lakh (-6% margin). Revenue has grown at a compounded annual rate of +75% over three years and +33% over five years.
- ₹10.04 CrRevenue · FY 2025 · +99% YoY
- -₹1.37 CrNet loss
- -₹65.1 LakhEBITDA · -6% margin
- ₹1.62 CrPaid-up capital
- 51Employees (provident fund records)
- +75%Revenue CAGR, 3 years
- +33%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Hps Lab Designs Private Limited are on its company page.
Detailed financial statements for HPS Lab Designs
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of HPS Lab Designs
4 dated milestones of HPS Lab Designs across 6 years, from founding to its latest funding, stage changes and deals.
- Founded HPS Lab Designs is founded.
- Funding First funding round of $36K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $597K.
Competitors of HPS Lab Designs
HPS Lab Designs operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Samsara, Spireon, Inseego, Quartix and Swift Navigation, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| samsara.com | 2015 | San Francisco, United States | $915M | 2,895 | AI-powered cloud-based vehicle tracking solutions are offered for fleet owners. | |
| spireon.com | 2003 | Knoxville, United States | $7.71M | 364 | SaaS-enabled solutions for fleet and field service management are offered. | |
| inseego.com | 1985 | San Diego, United States | $64.3M | 345 | IoT networking hardware and device management platforms are provided. | |
| quartix.com | 2001 | Chicago, United States | – | 181 | GPS vehicle tracking and fleet management solutions are provided. | |
| swiftnav.com | 2012 | San Francisco, United States | $247.6M | 102 | Provider of positioning and navigation solutions for farm tractors | |
| safefleet.net | 2013 | Belton, United States | – | 1,274 | Fleet safety management products are developed for transportation. | |
| verizonconnect.com | 2006 | Atlanta, United States | – | 88 | Cloud-based fleet management and tracking solutions are provided. | |
| blueskynetwork.com | 2001 | United Kingdom | $1M | 80 | Provider of GSM and iridium-based fleet management and satellite tracking solutions | |
| intangles.ai | 2016 | Pune, India | $52.79M | 352 | AI-powered platform for predictive fleet maintenance and management is provided. | |
| pointonenav.com | 2016 | San Francisco, United States | $37.49M | 34 | Cloud-based ultra-precise location services are delivered via GPS and sensors. |
Detailed competitors of HPS Lab Designs
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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Verified entity values are shown only after access is granted.
Similar companies to HPS Lab Designs
10 companies that operate in the same segment as HPS Lab Designs (Physical Security & Surveillance), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based business telephony and home security services are provided. | 2004 | Palo Alto, California, United States | USD 87.97 M | USD 273.6 M | 1,190 | |
AI-powered cloud-based vehicle tracking solutions are offered for fleet owners. | 2015 | San Francisco, California, United States | USD 915 M | USD 1.62 B | 3,500 | |
Cloud-based smart security cameras are manufactured for home use. | 1999 | Provo, Utah, United States | USD 172 M | USD 341.04 M | 11,275 | |
Family and friends are connected through location-sharing mobile app. | 2008 | San Francisco, California, United States | USD 89.74 M | USD 489.48 M | 569 | |
Wireless home security systems are offered with cellular monitoring. | 2006 | Boston, Massachusetts, United States | USD 387 M | – | – | |
Enterprise video surveillance systems and platforms are developed. | 2016 | San Mateo, California, United States | USD 656.64 M | – | – | |
Wireless smart home security cameras and doorbells are provided. | 2009 | Boston, Massachusetts, United States | USD 40.07 M | – | – | |
Locations are identified and shared via unique three-word addresses. | 2013 | London, England, United Kingdom | USD 231.46 M | – | – | |
Provider of smart thermostats for commercial and residential applications | 2007 | Toronto, Ontario, Canada | USD 151.52 M | – | – | |
A personal safety network is provided for community protection. | 2017 | New York, New York, United States | USD 143.72 M | – | – |
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Frequently Asked Questions about HPS Lab Designs
HPS Lab Designs was founded in 2016 and raised its 1st funding round 3 years after it was founded.
HPS Lab Designs is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Gaurav Verma is the current CEO of HPS Lab Designs. They have also founded this company.
HPS Lab Designs is a funded company, having raised a total of $1.38M across 5 funding rounds to date. The company's 1st funding round was a Angel Round of $36.22K, raised on Mar 2019.
HPS Lab Designs has 51 employees.
The primary company behind HPS Lab Designs, Hps Lab Designs Private Limited, reported revenue of ₹10.04 Cr for FY 2025, up 99% year on year.
HPS Lab Designs was founded in 2016 in Mumbai, India, focusing on IoT GPS solutions for logistics, fleet management, rental services, finance, OEMs, and last-mile delivery. Real-time tracking, analytics, geo-fencing, and remote immobilization are offered to support security and efficiency. Patented in-house devices enable these features, with targeted applications for EV finance to aid loan recovery and for vehicle rentals to track usage and allocation.
HPS Lab Designs's top competitors include Samsara, Inseego and Swift Navigation.
HPS Lab Designs offers Ajjas Pro, Ajjas Lite, and Ajjas Go.
HPS Lab Designs has 20 investors. Key investors include Vistra ITCL, HPCL, Refex Capital, Merlin Capital Technologies, and Timothy J Laing.
The valuation of HPS Lab Designs is $6.33M as of May 2022.
HPS Lab Designs operates through Hps Lab Designs Private Limited.