Traffline raises Series B round of funding from Qualcomm Ventures
1 min read . Updated: 30 Sep 2014, 05:29 PM IST
PremiumThe company plans to use the funds to expand operations in 10 cities by the end of this year
Bangalore: Birds Eye Systems Pvt. Ltd, which provides instant traffic information on its app called Traffline, said it has raised an undisclosed sum in its second, the so-called Series B, round of funding from the India arm of Qualcomm Ventures.
Traffline is currently live in Mumbai, Delhi and Bangalore. The company plans to use the funds to expand operations in 10 cities by the end of this year.
In a statement on Tuesday, Varsha Tagare, director of Qualcomm Ventures, said his company made the investment because Traffline is “a compelling mobile transport application that enables city navigation with real time information on traffic, routes and parking".
Birds Eye Systems was founded by Brijraj Vaghani and Ravi Khemani in March 2009, while its application, Traffline was launched in January 2012. The inception of the idea came when they felt the need to tackle traffic using live updates and technology in congested Indian cities.
“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," said Vaghani, chief executive of Birds Eye Systems.
In December 2013, the company had raised an undisclosed amount (Series A) from Matrix Partners India, prior to which they had raised seed capital from the Indian Angel Network in April 2012.
