MAM
RIOT LABZ redefining the Indian electronics landscape
Mumbai: RIOT LABZ is an Indian Electronic Contract Manufacturing and design company founded in 2015 by visionary minds from IIT Delhi. Specializing in IoT, Consumer Electronics, and Smart Home Automation, RIOT LABZ stands as a beacon of innovation and engineering excellence. With a focus on top-quality products, they offer rapid prototyping, customized hardware configurations, and efficient firmware development. Their state-of-the-art factories ensure precision and adherence to quality standards.
RIOT LABZ has achieved significant milestones, including partnerships with industry giants like Amazon and Paytm, and has a diverse clientele including leading brands such as Google and Sony.
Through their subsidiary brand, Oakter, RIOT LABZ empowers homes with a range of innovative IoT solutions, catering to modern lifestyles with products like the Mini UPS and induction cooktops. With a commitment to excellence and customer satisfaction, RIOT LABZ continues to push boundaries and innovate for a brighter future.
Indiantelevision caught up with Riot Labz CEO Shishir Gupta highlights its defining characteristics, product offerings, growth trajectory since its inception in 2015, adaptation to market demands and technological advancements, as well as strategic partnerships that have contributed to its expansion.
Edited Excerpts
On the model of RIOT LABZ as a brand in the Indian electronics industry, and setting itself apart from competitors
RIOT LABZ stands out in the Indian electronics industry through its emphasis on innovation, engineering excellence, and a customer-centric approach. By collaborating with industry giants like Amazon Alexa and Paytm, we continually introduce cutting-edge solutions to the market, showcasing our commitment to pushing boundaries. Our rigorous product development process ensures that each offering meets the highest quality standards and exceeds customer expectations, supported by 24/7 after-sales service. With a diverse product portfolio spanning IoT, Consumer Electronics, EV Charge Points, Payment Solution Devices, Sound & Audio, and Smart Home Automation, we cater to a wide range of consumer needs, positioning ourselves as a comprehensive solution provider. Furthermore, our commitment to sustainability and responsibility, evident in our eco-friendly practices and ethical business conduct, further distinguishes us from competitors, resonating with environmentally conscious consumers and reinforcing our leadership in the industry. Importantly, we have reduced rejection rates from the industry standard of 5 per cent to an impressive 1 per cent, with an average lead time for design of 6 months, remarkably shorter than the industry standard of 9 to 12 months. This highlights our commitment to efficiency and quality in every aspect of our operations, ensuring timely delivery of high-quality products to meet customer demands.
On the offerings that RIOT LABZ provides across its various product categories and catering to the needs of consumers in different sectors
At Riot Labz, our comprehensive range of solutions spans Original Design Manufacturing (ODM), Electronics Manufacturing Services (EMS), and consumer IoT products under the Oakter brand. As an ODM company, we manage end-to-end development for new products, primarily for OEM demands, while in EMS, we provide manufacturing, testing, and repair services based on OEM designs. Our Oakter brand offers consumer IoT products like Mini UPS, induction cooktops, and Smart Plugs, primarily online. Serving both B2B and B2C models, our offerings are meticulously crafted to meet diverse consumer needs. For instance, our IoT products enable remote monitoring and control, enhancing energy efficiency and convenience. Likewise, our Consumer Electronics lineup seamlessly integrates into modern lifestyles, offering enhanced functionality. Additionally, our Payment Solution Devices empower small businesses with flexible payment options, driving convenience and accessibility. With our diverse portfolio, we strive to deliver cost-effective innovative solutions that elevate the ease of living and promote sustainable growth.
On RIOT LABZ’s growth since its inception in 2015
Since our inception in 2015, RIOT LABZ has experienced remarkable growth, marked by key milestones that propelled us to the forefront of the industry. In 2016, we inaugurated our in-house electronics manufacturing facility, swiftly ascending to dominance in the Smart Plugs segment. The subsequent year marked a significant milestone as RIOT LABZ became the smart-home launch partner for Amazon Alexa in India. In 2019, our first B2B collaborations with renowned brands like Sony Bravia further solidified our market presence. In 2020, we forged a strategic partnership with the Indian Defense Research and Development Organization (DRDO), laying the groundwork for innovation in defence electronics. Most recently, in 2023, our recognition among 27 esteemed companies for the prestigious PLI 2.0 scheme further validates our commitment to excellence. Notably, our deal with Paytm, leading to the development of Paytm Soundbox, has been groundbreaking for Indian merchants. The device has seen rapid adoption across the country and played a vital role in empowering small and micro-businesses in India. It supports multiple languages such as English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi, and Odia. With Paytm Soundbox, RIOT LABZ provides flexibility and convenience to merchants with support for multiple payment methods such as Paytm Wallet, Postpaid, Paytm UPI, and other BHIM UPI apps, net banking, and cards.
On RIOT LABZ adapting its offerings to meet changing market demands and technological advancements
At RIOT LABZ we have continuously adapted our offerings to meet evolving market demands and technological advancements. Through regular market research and feedback mechanisms, we stay attuned to shifting consumer preferences and emerging trends. This allows us to proactively adjust our product portfolio and development strategies to address new market needs. Additionally, our agile development processes enable rapid iteration and deployment of new features and technologies, ensuring that our products remain competitive and relevant in the fast-paced fluctuating technological market. Moreover, our strategic partnerships with leading technology firms and industry experts provide valuable insights and access to cutting-edge technologies, enabling us to stay ahead of the curve and deliver innovative solutions in a timely manner that exceed customer expectations.
On strategic partnerships or collaborations that have played a significant role in the growth and expansion of the RIOT LABZ brand
Over the years, we have strategically leveraged many partnerships to fuel our growth and expansion in the market. One notable partnership we established was with Amazon Alexa, where RIOT LABZ became the smart-home launch partner for Amazon Alexa in India. This collaboration to a great extent boosted our visibility and credibility in the smart home automation sector, allowing us to leverage Amazon’s extensive customer base and distribution network. Additionally, our partnership with the Indian Defense Research and Development Organization (DRDO) has been instrumental in providing us with new opportunities to explore and develop cutting-edge technologies for defence applications. Furthermore, our collaboration with Paytm resulted in the development of Paytm Soundbox, which has been groundbreaking for Indian merchants, empowering small and micro-businesses with flexible payment options and multilingual support. Although we’ve had numerous other tie-ups with industry giants, these very strategic partnerships have particularly played an important role in elevating our market presence, fostering innovation, and ultimately fueling our growth and expansion journey.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
