Transerve to expand sales network, enter new verticals

Transerve Technologies, a startup that sells geospatial technology software to governments, builders, and city corporations — now plans to utilise them for a sales ramp-up and open more fronts in the next 18 months.

Transerve raised $1.6 million from IL&FS Investment Managers and Omidyar Network in a SeriesA round of funding, which was facilitated by Tribe Impact (previously known as Intellecap Impact Investment Network or I3N). Tribal Impact is an angel network that facilitates investments into early stage enterprises.

“The fund utilisation is primarily intended for product enhancement and sales ramp-up. We have set up an office in the National Capital Region recently and plan to open up more in the next 18 months,” co-founder Amarsh Chaturvedi said. Transerve was planning to enter new verticals such as Smart City solutions, and laser mapping technology for accelerating surveys for smart city projects etc.

The firm provides cloudbased software that helps municipal authorities map geographic locations and structures within city limits, thereby, easing revenue and tax collection processes. This is because information about all the properties that lie within the corporation’s geographical limits are stored centrally in a database and can be retrieved whenever required.

“Our core technology is used for revenue administration, where the application is intended to improvise creation of baseline data for improving property tax database. We have deployed these solutions for cities in Goa, Uttar Pradesh, Tamil Nadu, Maharashtra and Gujarat,” Chaturvedi explained.

The firm’s flagship product, SmartMu, which is also available on mobile phones, helps municipal bodies cut down on revenue losses, as it maps floor-wise and buildingwise information recorded and stored on the cloud.

Apart from government departments, its clients include sanitation agencies, ports, real estate companies, etc. It is also working in the area of water supply and sanitation solutions for clients such as the World Bankaided water resources optimisation projects and micro-irrigation planning in Jharkhand.

Transerve was incubated at the Centre for Innovation, Incubation and Entrepreneurship (CIIE)-IIM Ahmedabad and was also supported by the Centre for Incubation & Business Acceleration, Goa.