IAN Invests In Traffic Monitoring Solutions Provider - Birds Eye Systems
Indian Angel Network has made an angel investment of R2Cr in Mumbai based intelligent traffic monitoring solutions firm - Birds Eye Systems. IAN investor Members, Rajiv Dadlani and Nitin Agarwal, have joined the Birds Eye Systems Board.
The company will use the funds to expand it's footprint across the country, enhance the scope of services and further development of the product. It plans to integrate additional external sources with its Traffline platform to offer wider coverage Birds Eye Systems will shortly start offering customized solutions to map providers that they can use to value add their products.
The company, promoted by Brijraj Vaghani and Ravi Khemani, with valuable work experience in the US wireless and internet industry, had earlier received small funding from the Centre for Innovation, Incubation and Entrepreneurship.
Traffline, the company's flagship product, is a low-cost, real-time traffic monitoring system that broadcasts live traffic conditions to road commuters using its patented technology. It also provides software and mobile applications, for transport related applications.
Users can download this information from traffline.com, the company's online platform and can be used by road commuters, traffic police, emergency service providers and infrastructure and city planning agencies. The user can also avail real time traffic information on his mobile phone from traffline.com.
Birds Eye Systems launched its product early this year and is already visited by nearly 1,000 visitors a day. The company’s taxi booking service launched in September 2011 has built 15,000 user base and is now geared to add more cities and taxi service providers.
The Indian Angel Network has over 180 members and has over 25 investments across multiple sectors like IT, Mobile and Education and has made several successful exits. In 2011 alone, IAN invested nearly US$10Mn in 10 start ups including Jigsee, Groffr, and Vayavya.
Last month, it invested in Chennai based online hotel booking portal StayZilla. It also invested about $1Mn in gaming startup Gamiana Digital Entertainment Pvt Ltd. In January, it announced a R3.25Cr investment in Peel-Works, a cloud enabled sales force transformation and BPO firm.
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|2012-04-16||Birds Eye Systems - Indian Angel||Venture Capital||
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|http://www.indianangelnetwork.com/||Saurabh SrivastavaAlok MittalSanjay Bansal|
|Birds Eye Systems Private Limited||
Ravi Prakash Khemani
|G-2, Ami-Ramkrishna, 11, Happy Home Society, Nehru Road, Vile Parle -East||http://www.birdseyetech.com|
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