SUMMARY
- Nayan Tech has secured $2 million in its Pre-Series A round led by BEENEXT.
- We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital also participated in the round.
- This funding will be utilised in the growth of Nayan’s AI and IoT solutions business and operations in India and globally.
Innovative AI-based startup Nayan Tech, offering smart city solutions for traffic surveillance, has secured $2 million in its Pre-Series A round, led by BEENEXT and other investors such as We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital.
This funding will be utilised in the growth of Nayan’s AI and IoT solutions business and operations in India and globally, focusing on areas like traffic control, road safety, infrastructure oversight, and monitoring driver actions through Nayan’s AI-enabled dashcam.
Jayant Ratti, the founder of Nayan Tech, offers innovative smart city solutions for traffic surveillance, municipal automation, management of urban infrastructure, monitoring of driver behavior, fleet management, and ensuring passenger safety.
The platform leverages a mix of dashcams, drones, and intelligent mobile applications to gather extensive data from vehicles, public transport, and delivery services. This data is then analyzed by AI algorithms to track driver behavior, detect traffic violations, assess damage to infrastructure, and identify other key elements that affect urban living.
The company has onboarded more than 17,000 drivers in India, who contribute their footage to enhance its AI capabilities. Nayan’s technology has attracted 35 clients and 60 more in its waiting list, with an order value of Rs 35 crore.
