Indian tech startup Birds Eye Systems receives investment from QualcommNew Delhi: Indian technology startup Birds Eye Systems on Tuesday said that it has raised funds from US-based electronic chip firm Qualcomm's investment arm to expand its operations.The company in a statement said that it
New Delhi: Indian technology startup Birds Eye Systems on Tuesday said that it has raised funds from US-based electronic chip firm Qualcomm's investment arm to expand its operations.
The company in a statement said that it has raised a " fresh round of funding from Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures."
The deal size and other details were however not revealed.
The startup firm offers real-time traffic and travel information for Indian cities through a variety of mobile and Internet channels under the Traffline brand.
The statement said the funds will be used for product development, marketing and user acquisition, multi-city expansion and towards building a robust team across targeted cities.
"As a leader in wireless technologies, Qualcomm is pleased to invest in Traffline - a compelling mobile transport application that enables city navigation with real time information on traffic, routes and parking," Qualcomm Ventures Director Varsha Tagare said in a statement.
Qualcomm Ventures is investment arm of Qualcomm Incorporated.
"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," Birds Eye Systems Co-founder Briraj Vaghani said.
The statement did not disclose financial details and nature of the investment.
Birds Eye Private Limited had earlier secured its first round of institutional funding from Matrix Partners India.
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