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.