Transerve Technologies, a company that offers geospatial technology-based SaaS solutions for sustainable growth and urban planning, has raised $1.6 million from IL&FS Investment Managers and Omidyar Network in a Series A round of funding. The investment was facilitated by Tribe Impact (previously known as Intellecap Impact Investment Network or I3N) which is India’s first and largest impact-focused angel network facilitating investments into early stage enterprises.
Incubated at the Center for Innovation, Incubation and Entrepreneurship (CIIE)-IIM Ahmedabad and also supported by Centre for Incubation & Business Acceleration (CIBA), Goa, Transerve is helping India’s cities tackle the urban reforms and smart city agenda through a diverse portfolio of solutions that modernize the municipal information systems. Transerve’s unique SaaS based cost effective solution helps users to derive enhanced business insights from the visualization and analysis of location and Geographic Information Systems (GIS) data. The Company’s data collector, location intelligence and precision mapping tool helps businesses across sectors to intelligently utilize geo-location data to take smart decisions.
“At Transerve, we strive for excellence in providing technology solutions to the largely unaddressed segment of urban and local bodies as well as infrastructure consultants. Having validated the ideas early on, we scaled up in a bootstrapped fashion with seed support from CIIE and CIBA. The current round of funding from IL&FS and Omidyar Network has come just at the right time” said Amarsh Chaturvedi, Co-Founder, Transerve Technologies.
Source: Business Standard