e-Smart Systems

What e-Smart Systems does

e-Smart Systems Ltd. is a privately-held embedded security company incorporated in February 2004 and headquartered in New Delhi, India. The company designs and develops secure products spanning three product families: the SmartScos smart card operating system portfolio (SCOSTA, SCOSTA-CL, ePassport, eDL/iDL, PKI, qSPARC 2.0) used in government identity, payments, and credentialing schemes; the MYTAG CSP-8 Micro Hardware Security Module in microSD form factor implementing the BSI PP-104 cryptographic service provider architecture; and the MYTAG IoT platform with wireless readers, asset tags, locks, and I/O controllers for Industry 4.0 and Enterprise 4.0 deployments. Core technology spans contact and contactless smart card micro-controllers (NXP, Samsung silicon), Common Criteria-certified secure elements up to EAL 5+, ISO/IEC and ICAO standards compliance, and an end-to-end IoT stack with a built-in business intelligence engine and ~1 meter indoor asset tracking accuracy.

The company's revenue model is anchored in licensing and royalties: SmartScos OS is licensed to global smart card industry players, with royalty payments described as the major source of revenue. Secondary revenue comes from hardware sales of CSP-8 Micro HSM devices, MYTAG wireless IoT peripherals, and forthcoming MYTAG FIDO2 authenticators, plus integration and customisation services for Industry 4.0 deployments that link shop-floor sensors to SAP and Oracle ERP systems. Customers include government agencies issuing electronic passports, driving licenses, vehicle registration certificates, and health cards (with NPCI as a strategic co-development partner for payments), as well as manufacturing enterprises and corporate facility operators adopting IoT-enabled access control and indoor asset tracking. e-Smart invests approximately 30% of annual budget in R&D&I, is profitable with robust cashflows, and maintains a certified secure product development lab plus dedicated hardware and firmware labs in New Delhi; it operates with 51-100 employees and has no disclosed external funding rounds, parent company, or subsidiaries.

Name

e-Smart Systems

Legal name

e-Smart Systems Ltd.

Website

https://e-smartsystems.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

e-Smart Systems is a New Delhi-based embedded security company that designs certified smart card operating systems (SmartScos), a microSD-form-factor Micro HSM (MYTAG CSP-8), and an IoT platform (MYTAG), serving government identity programs, payments authorities, and industrial and enterprise customers globally via licensing and hardware sales.

Ownership category

akta.pro rank

Product category

Embedded security software and hardware (smart card operating systems & cryptographic devices)

NAICS

Computer Systems Design and Related Services (54151), Security Systems Services (except Locksmiths) (561621)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Secure ICs, Smart Cards & Trusted Hardware (HDAHAAAJ)

akta.pro secondary industries

Security & Trusted Hardware ICs (Secure Element/TPM/Crypto) (HDAHABAF), Confidential Computing & Hardware-backed Protection (TEE/HSM) (HDADAFAJ), Privacy, Data Protection & Identity/Account Security for Smart Home Ecosystems (HSAHAJAF), Access Control & Identity Systems Integration (Badge, Biometrics, Mobile) (BPAKAGAB)

Keywords

• Smart card operating systems
• Micro hardware security module
• IoT access control
• Identity assurance solutions
• FIDO2 authentication devices

Headquarters

HQ city

Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. OS Licensing & Royalties: e-Smart designs and develops smart card operating systems (SmartScos family) and licenses them to global players in the smart card industry. Major revenue stream comes from royalty payments received from global players who license products and technology. 18+ years of experience delivering certified OS products for large-scale government projects.
2. IoT Solutions & Platform: Delivers integrated IoT solutions for Industry 4.0 (manufacturing) and Enterprise 4.0 (facilities management). Includes readers, sensors, tags, controllers, switches, platform, custom apps, and integration services. Integrates with SAP and Oracle ERP systems.
3. IoT Integration & Customisation Services: Provides professional integration services including customisation of machines for real-time production data extraction, SAP/Oracle ERP integration, and IoT system deployment under tight SLAs.
4. MicroHSM Hardware Sales: Sale of MYTAG CSP-8 Micro HSM hardware in microSD form factor. Packs cryptographic security, secure time stamping, and tamper-resistant storage into an affordable, easy-to-integrate device for smartphones and smart devices.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

e-Smart Systems designs, develops, and licenses secure products for IoT, identity assurance, and information/data security. The portfolio includes the SmartScos family of smart card operating systems (licensed to global smart card manufacturers), the MYTAG CSP-8 Micro Hardware Security Module in microSD form factor, MYTAG FIDO2 phishing-resistant authenticators, and the MYTAG IoT platform with wireless readers, BLE/Sub-GHz/UWB asset tracking tags, wireless locks, and I/O controllers for Industry 4.0 and Enterprise 4.0 deployments integrated with SAP/Oracle ERP systems.

Product overview

e-Smart Systems offers a portfolio of secure products for Identity Assurance, Information & Data Security. The core offerings include the MYTAG CSP-8 Micro HSM (a MicroSD-based Hardware Security Module), MYTAG FIDO2 Authenticators (password replacement authentication devices), and the MYTAG IoT Platform with wireless readers, tags, locks, and controllers for Industry 4.0 and Enterprise 4.0 solutions. The Smartscos smart card operating system family covers multiple standards including SCOSTA (contact/contactless), ePassport (ICAO 9303), eDL/iDL (ISO 18013), PKI, and qSPARC 2.0 for various government and enterprise applications like electronic passports, driving licenses, vehicle registration, and health cards.

Differentiator

Problem solved

Functional benefit

Brands

• SmartScos: Smart card operating systems product line including SCOSTA, SCOSTA-CL, ePassport, eDL/iDL, PKI, and qSPARC 2.0 variants.
• MYTAG

Products and services

• SmartScos SCOSTA (Contact) A native ISO 7816 contact-mode smart card operating system based on NIC's 1.2b specification with errata and addendum. Available on NXP, Samsung, and other micro-controllers with 32K and 64K EEPROM/Secure Flash clear memory. Designed for driving license and vehicle registration schemes for government license issuers.
• SmartScos SCOSTA-CL (Contactless) A native ISO 14443 Type A and B contactless smart card operating system based on NIC's 1.2 specification. Available on NXP and Samsung micro-controllers with up to 80K EEPROM/Secure Flash clear memory. Certified by FIME and Keolabs. A specific version with inbuilt closed-loop e-Purse is available. Designed for government license issuers and payment card schemes.
• SmartScos ePassport OS A native ICAO 9303 compliant operating system for Machine Readable Travel Document (MRTD) applications, certified up to Common Criteria EAL 4+ with extensive interoperability testing. Supports PA/BAC and AA/BAC access control. EAC/SAC support is in development. For government ePassport issuers.
• SmartScos eDL/iDL OS A native ISO 18013-1,2,3,4 compliant operating system for global Electronic Driving License and International Driving License schemes. Certified by Keolabs. For government DL issuers.
• SmartScos PKI OS A native RSA-compliant smart card operating system with RSA asymmetric key and PKCS#15 support. Supports RSA 1024 and 2048, SHA 1, SHA 256, AES 128, and AES 256. For enterprise and government PKI applications.
• SmartScos qSPARC 2.0 Applet A dual-interface applet with ISO 7816 and ISO 14443 support, designed on the NPCI qSPARC 2.0 specification. Supports Combined Data Authentication (CDA) and Dynamic Data Authentication (DDA). For NPCI-compliant national payment card schemes.
• MYTAG CSP-8 Micro HSM A Micro Hardware Security Module (HSM) in microSD form factor that implements the Cryptographic Service Provider (CSP) security architecture as defined by BSI PP-104. It encapsulates reusable essential cryptographic functions along with secure time stamp service and audit trails on a secure element. Features dual-core 32-bit security chip with Common Criteria EAL 5+ security, dual-layer architecture (SE-CSP and SE-Application) with 1.54 MB tamper-resistant secure flash each and 8GB NAND flash, plus USB, NFC, and UWB interfaces. For enterprise security, smartphone/IoT cryptographic key management, and digital signature applications.
• MYTAG FIDO2 Authenticators
• MYTAG IoT Platform (Industry 4.0 & Enterprise 4.0) A highly configurable, massively scalable IoT platform with patented access control, indoor asset tracking (~1 meter accuracy), remote switches, and multiple sensor types all integrated via a built-in business intelligence engine. Supports multi-location, functional zone, and area management, real-time asset tracking, environmental monitoring, energy management, and emergency lockdown. Integrates with SAP and Oracle ERP systems. For manufacturing enterprises (Industry 4.0) and enterprise facilities management (Enterprise 4.0).

Quantifiable outcome

• Indoor asset tracking accuracy of ~1 meter
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature12 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• NXP SemiconductorscoreTechnology or IntegrationNXP provides microcontrollers/chips on which e-Smart's SmartScos operating systems (SCOSTA, SCOSTA-CL, ePassport) are implemented. Long-standing technology partnership supporting multiple certified OS products.
• Samsung ElectronicscoreTechnology or IntegrationSamsung provides microcontrollers on which SmartScos SCOSTA and SCOSTA-CL operating systems are implemented. Long-standing partnership for driving license and vehicle registration schemes.
• FIME (Testing Laboratory)minorImplementation/ SI/ Consulting PartnerInternational testing laboratory that certifies e-Smart's SmartScos SCOSTA-CL contactless smart card operating system. FIME provides interoperability and compliance testing services.
• Keolabs (Testing Laboratory)minorImplementation/ SI/ Consulting PartnerTesting laboratory that certifies SmartScos SCOSTA-CL (contactless) and SmartScos eDL/iDL operating systems. Provides interoperability testing for electronic driving license schemes.
• National Payments Corporation of India (NPCI)coreStrategic or Co-development Partnere-Smart developed SmartScos qSPARC 2.0 applet based on NPCI's qSPARC 2.0 specification for payment applications supporting CDA and DDA. Dual interface applet with ISO 7816 and ISO 14443 support.
• BSI (Bundesamt fuer Sicherheit in der Informationstechnik)coreOthersGerman Federal Office for Information Security defines the CSP security architecture (BSI PP-104), Time Stamp Service & Audit (BSI PP-0107), and cryptographic protocol guidelines (BSI TR-03116) that e-Smart's MYTAG CSP-8 implements and is certified against.
• Fido AlliancecoreOthersFido Alliance is the industry consortium managing FIDO authentication standards. e-Smart is developing FIDO2 authenticators based on open standards published by FIDO Alliance for password-less, phishing-resistant multi-factor authentication.
• SAPcoreTechnology or Integratione-Smart's IoT platform integrates with SAP ERP systems as part of its Industry 4.0 solution, enabling real-time production data extraction and production optimisation through SAP integration.
• OraclecoreTechnology or Integratione-Smart's IoT platform integrates with Oracle ERP systems as part of its Industry 4.0 solution, enabling real-time production data extraction and production optimisation through Oracle ERP integration.
• LogomotionminorStrategic or Co-development PartnerPartnership agreement for PCT patent application PCT/IB2013052286 relating to a temporary carrier of a removable memory card (method of production and processing of a removable card). Used for the ID-1 plastic carrier card for CSP-8.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Infineon Technologies: Infineon is a major supplier of secure elements, security controllers, and trusted platform modules used in smart cards, ePassports, and payment. Provides both the underlying chips and integrated security solutions that overlap with e-Smart's secure hardware offerings.
• NXP Semiconductors: NXP is a leading semiconductor manufacturer whose secure microcontroller chips form the foundation for smart card OS implementations. While a key technology partner, NXP also offers its own secure element OS and embedded security solutions, creating both collaboration and competitive overlap with e-Smart.
• HID Global (ASSA ABLOY): HID Global is a leading provider of access control, identity management, and secure credential solutions. Overlaps with e-Smart's MYTAG IoT platform for physical access control and wireless readers in enterprise facilities.

Regional players

• Eastcompeace: Eastcompeace is a China-based smart card and secure element provider focused on telecom SIM, financial cards, and government ID credentials. Comparable to e-Smart in smart card OS and certified identity products, primarily serving the Chinese and Asian markets.

Direct peers

• Feitian Technologies: Feitian is a major provider of FIDO2 authenticators, smart card OS, and secure authentication devices. Competes directly with e-Smart across FIDO2 hardware, smart card OS, and authentication products for enterprise and government customers.
• Giesecke+Devrient: G+D is a global secure technology company offering smart card operating systems, secure elements, payment solutions, and identity credentials. Direct competitor in OS licensing for SIM, banking, and government ID schemes.
• Watchdata Technologies: Watchdata is a China-based provider of smart card OS, secure elements, and digital identity solutions. Direct competitor in smart card OS licensing and certified identity products for government and payment applications.
• Yubico: Yubico is the market leader in FIDO2 hardware authenticators (YubiKey) used for phishing-resistant multi-factor authentication. Direct competitor to e-Smart's MYTAG FIDO2 Authenticators in the enterprise and government authentication market.
• IDEMIA: IDEMIA is a major provider of secure identity solutions including smart card OS, ePassports, driving licenses, and national ID programs. Competes directly with e-Smart in certified government ID credentials and secure OS licensing.
• Thales (formerly Gemalto): Thales is the global leader in digital identity and security, offering smart card operating systems, secure elements, ePassport solutions, and identity management platforms. Directly comparable to e-Smart across smart card OS licensing, ePassport OS, and government ID credentials.

Market position

Strengths5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MYTAGSYSTEM
• LinkedInlinkedin.com/company/e-smart-systems-pvt.-ltd.

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about e-Smart Systems