NAYAN TECH Secures USD 2 Mn Funding Led by BEENEXT to Expand Smart City AI Solutions With the raised funds, the Delhi-based startup aims to expand its AI and IoT-powered solutions to improve traffic management, road safety, driver behavior monitoring, and urban infrastructure across India.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
NAYAN TECH, an AI-based startup offering smart city solutions, has raised USD 2 million in its pre-Series A funding round led by BEENEXT, along with participation from We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital.
The fresh capital will be used to expand the company's AI and IoT-powered solutions both in India and globally. These solutions aim to address urban challenges like traffic management, road safety, infrastructure monitoring, and driver behavior tracking using Nayan's AI-powered Dashcam.
Founded in 2018 by Jayant Ratti, NAYAN TECH offers a wide array of smart city solutions, including traffic monitoring, municipal automation, driver behavior tracking, fleet management, and passenger safety.
The company uses dashcams, drones, and smart mobile apps to gather large amounts of data from vehicles and public transport, which is then processed by AI to analyse driver behavior, traffic violations, and urban infrastructure conditions.
"Nayan's AI-powered Dashcams provide real-time, accurate data that city administrations and businesses can use to solve urban infrastructure, road safety, and traffic flow challenges," said Ratti, Founder and Managing Director of NAYAN TECH. "Our technology ensures safer roads, more efficient city management, and optimised traffic systems through smart data utilisation."
The company claims to have onboarded over 17,000 drivers across India, using crowdsourced footage to power its AI systems. Nayan has attracted 35 contracted clients, with an additional 60 in its pipeline, securing a total order book worth INR 35 crore.
Neeraj Tyagi, Co-founder of We Founder Circle, stated, "NAYAN TECH's AI Dashcams can revolutionise road safety, traffic management, and urban infrastructure, which are crucial for India's fast-growing cities."
