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Indian Angel Network has invested Rs 2 crore in Birds Eye Systems, a Mumbai-based venture that provides information on traffic conditions.
At present, the service is available in Mumbai, Delhi and Bangalore, where users can ask for traffic conditions on any route they want. Birds Eye is working on integrating maps along with the text message that it sends out to those requesting for traffic conditions, through their mobile phones. Users can also log on to the company's Web site for getting the information.
IAN did not disclose the stake that it is picking up in Birds Eye Systems, but said two of its member-investors have joined the company's board.
Birds Eye Systems's founders, Mr Brijraj Vaghani and Mr Ravi Khemani, have worked in the US wireless and Internet industry, before setting up this venture in 2009.
According to Mr Vaghani, the company's flagship product, Traffline, provides live traffic conditions to road commuters. It also provides software and mobile applications for transport related applications. Logistics companies and taxi service companies use their service.
The company is also working with mobile telephone companies to offer this as a value-added service for their users. Birds Eye received Rs 15 lakh funding from the Centre for Innovation, Incubation and Entrepreneurship in August 2011.
Ms Padmaja Ruparel, President, IAN, a network of individual angel investors, said this investment would take the network's portfolio to 35 companies.
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