Transerve Technologies, a company that offers geospatial technology-based SaaS solutions for sustainable growth and urban planning, has raised $1.6 million from IL&FS Investment Managers and Omidyar Network in a Series A round of funding. The investment was facilitated by Tribe Impact (previously known as Intellecap Impact Investment Network or I3N) which is India’s first and largest impact-focused angel network facilitating investments into early stage enterprises.
Incubated at the Center for Innovation, Incubation and Entrepreneurship (CIIE)-IIM Ahmedabad and also supported by Centre for Incubation & Business Acceleration (CIBA), Goa, Transerve is helping India’s cities tackle the urban reforms and smart city agenda through a diverse portfolio of solutions that modernize the municipal information systems. Transerve’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 helps businesses across sectors to intelligently utilize geo-location data to take smart decisions.
“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,” said Shreya Deb, Principal, at philanthropic investment firm Omidyar Network. “Access to property rights often starts with reducing the cost and complexity of maintaining property records. 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.”
“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” said Amarsh Chaturvedi, Co-Founder, Transerve Technologies.
Transerve’s groundbreaking, 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.
Transerve 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, Transerve’s solutions are being used to optimize the available water resources and assets. Transerve 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.
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