AI-based startup Nayan Tech, founded by Jayant Ratti, has raised $2 million to boost its AI and IoT-powered road safety and traffic monitoring solutions, both in India and international markets.
The funding round was led by Beenext, with additional participation from We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital. Nayan Tech aims to leverage the new capital to scale its AI-driven innovations designed to enhance road safety through advanced monitoring systems.
Nayan Tech specializes in AI-driven vision processing and provides solutions such as dashcam technology for fleet management, law enforcement, and smart city applications. The dashcam system collects real-time data to monitor traffic violations, road conditions, and driver behavior, offering benefits to multiple stakeholders, including government bodies and private sector businesses like transportation companies, civic bodies, and insurance firms.
Founder and managing director Jayant Ratti expressed his excitement about the support from We Founder Circle, stating, “Our technology is transforming road safety, and this funding will allow us to expand both domestically and internationally.”
The startup integrates dashcams, drones, and smart mobile applications to collect valuable data from public transport, delivery fleets, and individual vehicles. Using AI algorithms, the data is analyzed to track driver behavior, traffic issues, and urban infrastructure challenges.
Nayan Tech has signed over 17,000 drivers across India to provide crowd-sourced video footage, fueling its AI engine. The company currently has 35 contracted customers and 60 additional signups in progress, with a total order book valued at Rs 35 crore.