Panji, Goa – According to recent news by the TOI and SMEPost.com, Goa-based 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 amount will be utilised to expand its business operations across the country, with special focus on the Smart City Mission.
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.
Through visualisation and analysis of location and geographic information systems (GIS) data, combined with the company’s location intelligence and precision mapping tools, Transerve Technologies helps businesses across sectors intelligently utilise geo-location data to take decisions that can enhance business development and increase revenue
Though the company is based in Goa and has an office in Delhi, its products SmartMu and the Data Collector app are being used in Maharashtra, Uttar Pradesh and Goa.