Indian Tech Startup Birds Eye Systems Receives Investment From Qualcomm

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By Press Trust of India | Updated: 30 September 2014 20:59 IST
Indian technology startup Birds Eye Systems on Tuesday said that it has raised funds from US-based electronic chip firm Qualcomm's investment arm to expand its operations.

The company in a statement said that it has raised a " fresh round of funding from Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures."

The deal size and other details were however not revealed.

The startup firm offers real-time traffic and travel information for Indian cities through a variety of mobile and Internet channels under the Traffline brand.

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The statement said the funds will be used for product development, marketing and user acquisition, multi-city expansion and towards building a robust team across targeted cities.

(Also See: Qualcomm Showcases Robots Powered by Its Smartphone Technology)

"As a leader in wireless technologies, Qualcomm is pleased to invest in Traffline - a compelling mobile transport application that enables city navigation with real time information on traffic, routes and parking," Qualcomm Ventures Director Varsha Tagare said in a statement.

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Qualcomm Ventures is investment arm of Qualcomm Incorporated.

"Getting access to accurate and real-time traffic, travel and local information is a big problem for millions of Indian commuters in major cities. We want to address this problem using an approach tailored to Indian ethos and travel conditions," Birds Eye Systems Co-founder Briraj Vaghani said.

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The statement did not disclose financial details and nature of the investment.

Birds Eye Private Limited had earlier secured its first round of institutional funding from Matrix Partners India.

 

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Further reading: Startup, Birds Eye, Mobiles, Matrix, India, Qualcomm
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