IAN invests Rs 2 crore in Real-time traffic tracker Birds Eye Systems
Mumbai April 16, 2012
Indian Angel Network, India’s leading group of angel investors has
made a Rs. 2 crore angel investment in Birds Eye Systems, a Mumbai-based
intelligent traffic monitoring solutions venture. 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
(CIIE).
The IAN investment will go towards expanding the Company’s
footprint around the country, enhancing scope of services and further
development of the product and augmenting key management. Currently
Birds Eye Systems’ services are offered in Mumbai, Delhi and Bangalore.
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 www.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 http://m.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 company 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 logistics companies will
benefit from historical data on traffic patterns to plan their routing
better.
IAN investor Members, Rajiv Dadlani and Nitin Agarwal have joined the Birds Eye Systems Board.
Brijraj Vaghani co-founder of Birds Eye Systems said, “We
approached IAN for investment as it brings a refreshing approach to
early-stage investing with a quick response time. IAN members’ vast
experience, strategic value-adds and their extensive network has begun
to benefit Birds Eye Systems. This strategic and professional investment
into Birds Eye, will increase the brand, credibility and value of our
Company.”
IAN Member Rajiv Dadlani says, “Birds Eye System’s
real-time traffic tracking and monitoring solution solves one of the
biggest pains that commuters face in the country–traffic. We were
impressed by the Birds Eye Systems team’s technology competency, their
continuous focus on execution, and a flexible mindset with a clear
objective disposition—all essential ingredients for success.”
Co-founder Ravi Khemani says, “Birds Eye Systems’ highly
scalable product is built on a platform that continuously analyses live
vehicle movement and displays results on Traffline.com. The results are
made available in a easy to read text format on m.traffline.com This
allows us to provide live traffic updates to consumers helping save time
and fuel. Our differentiated taxi booking application runs on all
mobile phones.”
“Indian Angel Network saw in Brijraj and Ravi a passionate
team with strong commitment and high-energy. Birds Eye Systems’ is
working on a well-thought-through business strategy which has been
commercialized and is now being scaled up via internet, mobile, mVAS
etc.” says IAN member Nitin Agarwal.
Interestingly, as per PCRA (Petroleum Conservation Research
Association) studies, metros like Delhi alone looses nearly Rs. 1,000
crore annually, due to vehicle idling. Studies suggest that better
traffic management helps reduce fuel consumption, in major metros by
15%. Here is an excellent example of technology being leveraged for
improving the environment!
By using www.traffline.com, commuters can select the best route to reach the destination and reduce road travel time by 15% to 20%.
About Birds Eye Systems
BES provides real-time traffic information, in major cities to help
road commuters estimate their travel time, and select the best route
for travelling. The company also provides software and mobile
applications, for transport related companies.
About Indian Angel Network
Indian Angel Network is India’s most nimble and national network of
nearly 200 business angels investing in start-ups, early stage
ventures
As a part of this Network built “By Entrepreneurs, For
Entrepreneurs”, investees can gain access to the vast business network
of IAN’s influential members, strategic direction, and operational
guidance apart from financial investment which is critical for creating
large, valuable companies.
In 2011, IAN invested in a deal each month totalling a little over
US$ 8 million. IAN’s portfolio companies leveraged IAN’s investment with
another US$ 27 million or so from next round funding, bringing in a
total of over US$ 30 million to start up companies.
2011 saw three of IAN portfolio companies – Kwench Library
Solutions, Druva and TaxSpanner — being chosen among the hottest start
ups of 2011 by BusinessWorld and Business Today magazines.
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