Nayan Tech Secures $2 Million Funding to Boost Smart City Solutions

Nayan Tech recently announced that it has raised $2 million in a Pre-Series A funding round. The investment was led by BEENEXT, with participation from We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital. This financial boost aims to bolster Nayan Tech’s operations and expand its offerings of AI and IoT-powered solutions across India and internationally.

Mission and Innovations

Founded by Dr. Jayant Ratti, a robotics and AI expert with an extensive portfolio of over 100 patents and experience at renowned companies such as Boeing and DARPA, Nayan Tech is poised to transform urban infrastructure management. The startup provides innovative solutions for traffic monitoring, municipal automation, fleet management, and passenger safety, leveraging data to address critical urban challenges. Their flagship product, the AI-Powered Dashcam, is designed to enhance traffic management and road safety while monitoring driver behavior.

Statement from the Founder

Dr. Jayant Ratti, Founder & Managing Director of Nayan Tech, expressed enthusiasm about the funding, stating, “Nayan’s AI-powered Dashcams are designed to provide city administrations and businesses with precise, real-time data that can help tackle the most pressing challenges of urban infrastructure, road safety and fleet management. Our technology ensures safer roads, more responsive city management, and optimized traffic flows through smart data utilization. Through a single deployment, Nayan is able to serve benefits to multiple government bodies and businesses like Transportation, Traffic Police, Civic Bodies, Insurance Companies and Fleet Companies. We are excited to have We Founder Circle’s backing as we continue to scale our solutions across India and beyond,” 

Insights from We Founder Circle

Neeraj Tyagi, Co-Founder of We Founder Circle, emphasized the significance of Nayan Tech's contributions to urban management. He noted, “Nayan Tech is at the forefront of a transformation in urban management and smart city solutions. Their AI Dashcams and its data model have the potential to significantly improve road safety, traffic monitoring, and infrastructure management, which are critical for India’s rapidly growing cities. We are proud to support Nayan Tech in their mission to make cities smarter, safer and more responsive.

Data-Driven Solutions

Nayan Tech utilizes a combination of dashcams, drones, and smart mobile applications to gather extensive data from vehicles, public transport, and delivery fleets. This data is processed using advanced AI algorithms to monitor key factors affecting urban life, including driver behavior, traffic violations, and infrastructure conditions. The startup has successfully onboarded over 17,000 drivers across India, who contribute crowdsourced footage to enhance its AI engine. Currently, Nayan Tech boasts 35 contracted customers and 60 potential sign-ups, with an order book totaling INR 35 Cr.

Strong Intellectual Property and Market Presence

Nayan Tech's innovative approach is fortified by a robust intellectual property portfolio, including over 70 patents across the US, India, and several other nations. The company’s solutions are being adopted by various entities, such as transport departments, traffic police, municipal authorities, and fleet companies, providing real-time monitoring and actionable insights to enhance urban safety and efficiency. Nayan has received several industry accolades, including the AI Gamechangers Award at the GPAI Summit 2023, the NASSCOM Emerge 50 Awards 2023, and the National Start-up Award 2021, demonstrating its commitment to technological excellence and impactful innovation.

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