AI startup Nayan Tech raises $2 million in a pre-Series A round

Homegrown AI startup Nayan Tech has raised $2 million in a pre-Series A funding round led by BEENEXT and other investors, including We Founder Circle, Venture Catalysts, Letsventure, and FAAD Capital. 

With the newly raised funds, Nayan Tech plans to expand its AI-powered offerings and scale its operations across more Indian cities and internationally in the US, Southeast Asia, UAE, and others. 

The startup is now manufacturing its own AI-powered dashcams suitable for all vehicle types for real-time updates on driver behaviour, passenger safety, road and urban infrastructure conditions, traffic violations management, and fleet management.

What does Nayan Tech do?

Founded by Dr. Jayant Ratti, a robotics and AI expert with over 100 patents and a career spanning leading global companies like Boeing and DARPA, Nayan Tech aims to revolutionize how cities manage their urban infrastructure.

Through the integration of AI, computer vision, and IoT devices, the startup’s solutions provide real-time insights for urban planners, city administrators, and businesses.

Nayan Tech leverages a combination of dashcams, drones, and smart mobile applications to collect vast amounts of data from vehicles, public transport, and delivery fleets. This data is processed using AI algorithms to monitor driver behaviour, traffic violations, infrastructure damage, and other critical factors that impact city life.

Signed up over 17,000 drivers

The startup claims to have signed up over 17,000 drivers across India, who provide crowdsourced footage to fuel its AI engine. Nayan’s technology has gained traction with 35 contracted customers and 60 sign-ups in its pipeline, generating a total order book of Rs 35 crore.

“Nayan’s AI-powered Dashcams are designed to provide city administrations and businesses with precise, real-time data that can help tackle the most pressing challenges of urban infrastructure, road safety and fleet management. Our technology ensures safer roads, more responsive city management, and optimized traffic flows through smart data utilization,” said Ratti.

“Through a single deployment, Nayan is able to serve benefits to multiple government bodies and businesses like Transportation, Traffic Police, Civic Bodies, Insurance Companies and Fleet Companies,” Ratti added.

Investor comments

Commenting on the investment, Neeraj Tyagi, Co-Founder of We Founder Circle, added, “Nayan Tech is at the forefront of a transformation in urban management and smart city solutions. Their AI Dashcams and its data model have the potential to significantly improve road safety, traffic monitoring, and infrastructure management, which are critical for India’s rapidly growing cities. We are proud to support Nayan Tech in their mission to make cities smarter, safer and more responsive.”