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Welcome to CoinValue

A "Smart AI-powered" reliable solution for counting Indian coins

Welcome. We’re CoinValue and  our groundbreaking solution (patent pending) is automating the counting of Indian coins, a very complex mix which confuses conventional coin counting machines. Curious to find out more? Browse through our website, and get in touch if you would like to request a demo.

Why Build a "Smart, AI-Powered" Coin Counting Machine?

Imagine quarters ($ 0.25) and dimes ($ 0.10) having the same diameter, while having old styles of quarters and dimes as well in circulation! Sounds complex? That's the market problem we are addressing. The Indian market does not have a meaningful solution to automatically classify and physically sort coins.

Not to worry, we are using Machine Learning and Computer Vision to accurately recognize images of coins real-time, as they get deposited into the machine. Doesn't matter whether it's Heads or Tails, the right coin and associated value is identified for the user!

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Highly Complex Mix

We have identified 18 different styles of coins across 5 denominations (INR 1, 2, 5, 10 and 0.5). Many of these styles look similar and have overlapping diameters. Imagine counting a one rupee coin as two rupee coin or vice-versa!

Stacks of Coins

Significant Volume and Growth

According to the Reserve Bank of India's 2018 Annual Report, over 108 billion Indian coins are in circulation, equivalent to 256 billion Rupees in value.

 

In 2018, the total value of coins in circulation increased by 10.28 per cent from 2016. In volume terms, the increase was 11.1 per cent.

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Primarily Labour Intensive and Non-Core Activity

Businesses in India that receive large volumes of coins are ready for a technological solution. However, with no known reliable solutions in the market, the sorting and counting is primarily manual.

We spoke to over 250 businesses across 5 large Indian cities. They expressed the following concerns:

  • “Challenging to rely on labour to show up  for work and churn is high”

  • “Error and rework in manual counting is high”

  • “Pilferage of money is a concern”

  • “Coin sorting and counting is a non-core activity for staff”

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Converting Coins to Useful Value

Despite so many coins in circulation, Indians haven’t been able to realize full value of the coins they are sitting on!

In many cases candies are given in exchange for coins. Further, there are many coins sitting in pockets, below car seats, piggy banks, under sofas and you name it – they are lost or forgotten!

Coin Value's patented technology can rapidly count, recognize AND sort the coins inserted. This value can then be transferred to the individual’s digital wallet – The possibilities are endless!

Watch CoinValue In Action

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About Us

We’re a talented group of entrepreneurs and engineers that believe India, a huge cash-based economy needs a reliable solution for counting the coins that are in circulation. We are excited to be bringing our ground breaking solution to you soon.

We are a cross-functional team of professionals with proven skills ranging from mechanical design to embedded development and AI / ML software development to finance and business operations.

Although we are a Canadian company, our motivation to solve a fun and challenging problem for the Indian market has brought us together.

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Our Technology

Easy. Fast. Secure.

We are leveraging Machine Learning and Computer Vision to accurately recognize images of coins in real-time and send them into the appropriate bins while keeping an accurate count of the coins (patent pending).

Using Machine learning and Computer Vision helps us scale to future styles of Indian coins, without having to change hardware or the entire machine! Further, we have the flexibility to recognize coins from other countries as well.

We are now ready to demonstrate our breakthrough solution.

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