In its pre-Series A funding round, Nayan Tech, a cutting-edge AI firm offering smart city traffic monitoring systems, raised $2 million from investors led by BEENEXT and included We Founder Circle, Venture Catalysts, Lets Venture, and FAAD Capital.

The money raised will be utilized to grow Nayan's operations and business in India and beyond. These operations and commercial ventures will encompass traffic management, road safety, infrastructure monitoring, and driver behavior monitoring using Nayan's AI-powered dashcam.

Nayan Tech, founded by Jayant Ratti, offers smart city solutions for fleet management, driver behavior monitoring, urban infrastructure management, traffic monitoring, municipal automation, and passenger safety.

The platform gathers a ton of data from cars, public transportation, and delivery fleets using a mix of dashcams, drones, and intelligent mobile apps. AI algorithms are used to process this data in order to monitor traffic infractions, infrastructure damage, driver behavior, and other important aspects of city life.

More than 17,000 drivers in India, according to the business, have already signed up to contribute crowdsourced footage to power its AI engine. With 60 sign-ups and 35 committed customers, Nayan's technology has acquired traction and generated an order book worth Rs. 35 crores in total.

Speaking to this significant funding round, Dr. Jayant Ratti, Founder & Managing Director of Nayan Tech, “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. 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. We are excited to have We Founder Circle’s backing as we continue to scale our solutions across India and beyond”.

Similarly expressing to this investment, Neeraj Tyagi, Co-Founder of We Founder Circle, adds, “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.”