Homegrown AI startup Nayan Tech has just raised $2 million in a pre-Series A funding round, led by BEENEXT along with other investors like We Founder Circle, Venture
Homegrown AI startup Nayan Tech has just raised $2 million in a pre-Series A funding round, led by BEENEXT along with other investors like We Founder Circle, Venture Catalysts, Letsventure, and FAAD Capital. With this fresh influx of capital, Nayan Tech aims to broaden its AI-powered solutions and expand operations not just in more Indian cities but also internationally, including the US, Southeast Asia, and the UAE.
Founded by Dr. Jayant Ratti, a robotics and AI expert with over 100 patents and a distinguished career at companies like Boeing and DARPA, Nayan Tech is on a mission to change how cities manage their urban infrastructure. The startup is creating its own line of AI-powered dashcams that can be used in all types of vehicles. These dashcams will provide real-time updates on driver behavior, passenger safety, traffic violations, and even the condition of roads and urban infrastructure.
Nayan Tech combines the power of AI, computer vision, and IoT (Internet of Things) devices to gather critical data from various sources, including vehicles, public transport, and delivery fleets. This data is processed using advanced AI algorithms to monitor driver behavior, track traffic violations, identify infrastructure damage, and address other important aspects affecting urban life.
The startup has already made significant strides, signing up over 17,000 drivers across India who contribute crowdsourced footage to enhance its AI capabilities. Nayan Tech has contracted with 35 customers and has 60 more in the pipeline, boasting a total order book worth Rs 35 crore.
Dr. Ratti explained, “Nayan’s AI-powered dashcams are designed to give city administrations and businesses accurate, real-time data that can help tackle urgent challenges in urban infrastructure, road safety, and fleet management. Our technology paves the way for safer roads and more efficient city management by making smart data utilization a priority.”
The technology’s impact extends to various stakeholders, including transportation agencies, traffic police, civic bodies, insurance companies, and fleet operators. According to Ratti, “Through a single deployment, Nayan can serve multiple government bodies and businesses.”
Neeraj Tyagi, Co-Founder of We Founder Circle, expressed excitement about the investment, saying, “Nayan Tech is leading the way in urban management and smart city solutions. Their AI dashcams and innovative data model have the potential to greatly enhance road safety, traffic monitoring, and infrastructure management, which are crucial for India’s rapidly growing cities. We are thrilled to support Nayan Tech in their mission to make cities smarter, safer, and more responsive.”
With this funding, Nayan Tech is well-positioned to make a significant impact in urban environments, using cutting-edge technology to address some of the most pressing issues facing cities today. As they expand their offerings and capabilities, the startup looks set to redefine how we think about urban management and safety.
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