Jul 29, 2020

Geospatial technology-based SaaS solutions provider, Transerve Technologies has raised $1.6 million from IL&FS Investment Managers and Omidyar Network in its Series A round of funding. The investment was facilitated by Tribe Impact (previously known as Intellecap Impact Investment Network or I3N) which is claimed to be India’s first and largest impact-focused angel network facilitating investments into early-stage enterprises. ADVERTISEMENT On the development, Shreya Deb, Principal, Omidyar Network, said: More than 200 million people in India lack secure property rights, and Transerve’s technology has the potential to play a critical role in solving this issue. Access to property rights often starts with reducing the cost and complexity of maintaining property records. He further added that: Transerve’s solutions help urban local bodies increase revenue and improve civic service delivery by maintaining an accurate database of properties—ultimately helping more people formalize their property records to secure and exercise their rights to their land and property. The company was incubated at the Center for Innovation, Incubation, and Entrepreneurship (CIIE)-IIM Ahmedabad and also supported by Centre for Incubation & Business Acceleration (CIBA), Goa. The startup works to help India’s cities tackle the urban reforms and smart city agenda through a diverse portfolio of solutions that modernize the municipal information systems. Commenting on the company, Amarsh Chaturvedi, Co-Founder, Transerve Technologies, said: At Transerve, we strive for excellence in providing technology solutions to the largely unaddressed segment of urban and local bodies as well as infrastructure consultants. Having validated the ideas early on, we scaled up in a bootstrapped fashion with seed support from CIIE and CIBA. The current round of funding from IL&FS and Omidyar Network has come just at the right time. The company’s unique SaaS-based cost-effective solution helps users to derive enhanced business insights from the visualization and analysis of location and Geographic Information Systems (GIS) data. The Company’s data collector, location intelligence, and precision mapping tool help businesses across sectors to intelligently utilize geo-location data to make smart decisions. The company’s core technology is enabling municipal revenue administration in multiple cities in the states of Maharashtra, Uttar Pradesh, and Goa. SmartMu, Transerve’s flagship product, is an innovative cloud-based solution that provides floor-by-floor and building-by-building visualization and record information. The mobile-based platform helps municipal bodies plug leakage in revenues in case of property tax and utilize resources efficiently in case of estate management. The use cases also include irrigation, sewage and sanitation systems, water supply, disaster management and urban development. The company also provides water supply and sanitation (WATSAN) solutions for a range of marquee clients including World Bank-aided Water Resource Optimization projects and micro-irrigation planning in Jharkhand. In states like Tamil Nadu, Gujarat, Karnataka, and Goa. The company’s solutions are also being used to optimize the available water resources and assets. The company is also actively deploying LIDAR (Light Detection and Ranging), a laser-based scanning and surveying technology, for various applications like heritage restoration and highway engineering. Share this: