Thursday, November 7, 2024
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Nayan Tech Raises $2 Million in Pre-Series A Funding

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Nayan Tech, a homegrown AI startup, has raised $2 million in a pre-Series A funding round. The investment was led by BEENEXT and supported by other investors such as We Founder Circle, Venture Catalysts, Letsventure, and FAAD Capital. This funding will help Nayan Tech to expand its AI-powered solutions and scale its operations across India, as well as globally in the US, Southeast Asia, the UAE, and more regions.

Revolutionizing Urban Management

Founded by Dr. Jayant Ratti, an expert in robotics and AI, with more than 100 patents, Nayan Tech focuses on revolutionizing urban infrastructure management. The company’s AI-powered dashcams are designed to offer real-time data on driver behavior, passenger safety, traffic management, and urban infrastructure conditions. These dashcams are suited for various vehicle types and provide crucial insights for urban planners, city administrations, and businesses.

Nayan Tech combines AI, computer vision, and IoT devices to gather data from vehicles, public transport, and fleets. The data collected is used to monitor traffic violations, road conditions, and city infrastructure, helping improve safety and efficiency.

Growing Impact and Market Presence

The startup has already signed up over 17,000 drivers across India, using their crowdsourced footage to fuel its AI engine. Nayan Tech has also secured 35 customers with 60 more in the pipeline, generating an order book worth Rs 35 crore.

AI-powered dashcams
AI-powered dashcams.

Dr. Jayant Ratti, founder of Nayan Tech, said, “Our AI-powered dashcams provide accurate, real-time data for tackling urban infrastructure challenges, improving road safety, and enhancing fleet management. With our technology, cities can manage traffic more efficiently and optimize road usage.”

Investor Support for Tech Mission

Neeraj Tyagi, Co-Founder of We Founder Circle, expressed his excitement about supporting Nayan Tech: “Nayan Tech is leading a transformation in smart city solutions. Their AI dashcams and data models will significantly improve traffic monitoring, road safety, and infrastructure management—all critical for India’s fast-growing urban spaces.”

With the new funding, Nayan Tech aims to scale its presence in more Indian cities and internationally. The startup’s goal is to make cities smarter, safer, and more responsive by leveraging cutting-edge AI solutions. Nayan Tech’s AI-powered dashcams are not only improving road safety but also helping multiple government bodies, businesses, and transportation agencies benefit from data-driven insights.

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