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Aurm Vaults: Reinventing Security for Your Precious Memories

Aurm Cover Image
  • The founder of bamboo-based sneaker brand Flatheads, Ganesh Balakrishnan, is back with yet another new venture Aurm.  
  • Backed by Suraj H S and Pratap Chandana, former core team members at MyGate, co-found Aurm, and the expertise of Ananda Rao Moram, an Indian Air Force veteran and ex-director of Operations at Delhivery.
  • Their mission? Providing a safe place for your valuables and precious memories. 

Ganesh Balakrishnan, founder of the bamboo-based sneaker brand Flatheads launches yet another brainchild, aiming to revolutionize bank locker safety.

The Problem 

Picture this, your parents tell you that some precious belongings must be put away for safekeeping, so a trip to the bank must be made to put them in a safety deposit locker.

You begin to wonder at this brilliant safety system provided by the banks and you start to imagine what it must look like; cameras everywhere, motion sensors, biometric locks, a laser grid that can be unlocked with a special password that is changed every day (okay, that's the influence of too many mission-impossible movies speaking).

But definitely, a highly secured vault protected by passwords and guards, right?

As you head to the bank you observe your parents become extremely cautious, they walk briskly holding their purses and bags tightly as they move ahead. You then walk into these “highly secure” lockers you are greeted with rows of small metal lockers in a tiny room that unlocks with a simple key or two, that is guarded by one man! 

While it may have sufficed in the 1800s (when bank lockers were first introduced) surely with current technology developing the way it is we can be offered more and better security!

And what's more, to secure one of these lockers in dingy rooms one must be put on a long waiting list with no complete assurance that they would get through. 

The Solution 

Aurm Vaults; with the strongest materials with the smartest technology.

On being approached by Vijay Aresetty, CEO at MyGate, a security management solution provider, Ganesh came up with Aurm vaults and roped in ex-MyGate core team members Suraj HS and Pratap Chandana to head the technology and sales for Aurm. 

As Indians, we are emotionally connected to gold and such valuables passed down through generations, according to the World Gold Council, Indian households possess approximately 23,000-25,000 tonnes of gold.

Wearing gold jewelry is often a case of status and prestige. It is not just a form of adornment but also a reflection of one's financial security, and with the number of affluent Indians increasing Banks are finding it harder to provide safe storage for every one of them. 

Industry reports and RBI data state that about 60 million affluent individuals in the country have possessions such as gold and other precious items.

However, only about 10% of these households have access to the approximately 6.3 million lockers that banks provide, while the rest are left to face the risk of theft, disasters, and accidents. 

Aside from this with the rising cost of real estate and the digitization of the world, banks are being forced to reduce expanding their physical branches, putting a full stop to the possibility of additional bank lockers.

These concerns have brought up the need for private safes that are secure and free from the complexities when associated with bank lockers. 

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Aurm Safe Vault

“Aurm aims to solve a major problem related to the safe and secure storage of valuable items for Indians. At a time when the number of affluent Indians is growing, the banks are overwhelmed with a lack of infrastructure.
We intend to partner with banks to mitigate this problem by opening modernized and tech-enabled strong rooms closer to the consumers,” said Balakrishnan.

Aurm’s mission is to rectify this by building a sturdy infrastructure and offering services to safeguard, unlock, and grow wealth, bring locker services closer to home, and provide access to these lockers for the entire community.

Why Choose Aurm? 

Aurm offers Protection, Convenience, and Experience, with valuables entrusted to them. With the security and operations aspects being led by Ananda Rao Moram, an Indian Air Force veteran and ex-director of operations at Delhivery, one can expect security at its finest.

The advanced robbery response system prevents theft attempts with its alarms and motion detectors that send alerts directly to the authorities. Aurm has also separated the access area of the locker from its actual storage area, making operating one’s locker a similar experience to using an ATM.

However, unlike a small room with a machine, Aurm's access room offers you an at-home-like experience to retrieve and store your valuables comfortably, away from the pressure and panic at a bank locker room.

Aurm team

These access areas, set up in an average area of 300 sq ft, will house 250-300 safes and will have a detailed security system installed to monitor any threat. Intelligent motion detection software detects any intrusion by alarms to monitor different kinds of threats.

The rooms will be made using military-grade steel and concrete structures. 
If a heavy weapon like a hammer is used to break in, it will be detected using vibration sensors. A gas torch being used to cut into the metal and concrete? Temperature sensors will pick it up. Further, the facility also has seismic sensors to check for earthquakes.

The startup is in talks with nationalized banks, to set up their services targeting digitally savvy and affluent clients. They already have more than 1,000 potential customers. 

The company will work with real estate developers, bankers, jewelers, and premium gated societies to provide storage vaults that have state-of-the-art security and can be accessed any day, at any time.; with plans to launch services by the end of February 2024. 

 Choose Aurm to rewrite the story of keeping your possessions safe for generations ahead.


Edited by Annette George

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