Transerve Technologies, a company into geospatial technology-based SaaS solutions, has raised $1.6 million from IL&FS Investment Managers and Omidyar Network in Series A round.

The investment was facilitated by Tribe Impact (previously known as Intellecap Impact Investment Network or I3N), an angel network, facilitating investments into early stage enterprises.

Incubated at the Centre for Innovation, Incubation and Entrepreneurship (CIIE)-IIM Ahmedabad and also supported by the Centre for Incubation & Business Acceleration (CIBA), Goa, Transerve is helping India’s cities tackle urban reforms and smart city agenda through a diverse portfolio of solutions that modernise the municipal information systems.

Transerve’s SaaS-based cost-effective solution helps users to derive enhanced business insights from visualisation and analysis of location and Geographic Information Systems (GIS) data. The company’s data collector, location intelligence and precision mapping tool helps businesses across sectors to intelligently utilise geo-location data to take smart decisions.

“More than 200 million people in India lack secure property rights, and Transerve’s technology has the potential to play a critical role in solving this issue,” said Shreya Deb, Principal, at philanthropic investment firm Omidyar Network.

“Access to property rights often starts with reducing the cost and complexity of maintaining property records. Transerve’s solutions help urban local bodies increase revenue and improve civic service delivery by maintaining an accurate database of properties — ultimately helping more people formalise their property records to secure and exercise their rights to their land and property.”

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