IAN Invests In Traffic Monitoring Solutions Provider - Birds Eye Systems
by Irfan Khan
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.
Hyderabad based MFI - Basix Group is planning to acquire minority stakes in development credit institutions in 10 African nations. This announcement comes a month after the MFI raised R38Cr (7 Mn Swiss Franc) from The Swiss Agency for Development Cooperation to set up developmental initiatives in ...