IAN invests Rs 2 crore in Birds Eye

Last Updated: Mon, Apr 16, 2012 21:11 hrs

Mumbai, Apr 16 (IBNS) Indian Angel Network (IAN), India's leading group of angel investors has made a Rs. 2 crore angel investment in Birds Eye Systems, a Mumbai-based intelligent traffic monitoring solutions venture.

The company, promoted by Brijraj Vaghani and Ravi Khemani, with valuable work experience in the US wireless and internet industry, had earlier received small funding from the Centre for Innovation, Incubation and Entrepreneurship (CIIE).

Brijraj Vaghani co-founder of Birds Eye Systems said, "We approached IAN for investment as it brings a refreshing approach to early-stage investing with a quick response time. IAN members' vast experience, strategic value-adds and their extensive network has begun to benefit Birds Eye Systems. This strategic and professional investment into Birds Eye, will increase the brand, credibility and value of our Company."

IAN Member Rajiv Dadlani said, "Birds Eye System's real-time traffic tracking and monitoring solution solves one of the biggest pains that commuters face in the country--traffic. We were impressed by the Birds Eye Systems team's technology competency, their continuous focus on execution, and a flexible mindset with a clear objective disposition---all essential ingredients for success."

The IAN investment will go towards expanding the Company's footprint around the country, enhancing scope of services and further development of the product and augmenting key management. Currently Birds Eye Systems' services are offered in Mumbai, Delhi and Bangalore.

More from Sify: