Qualcomm Invests in Indian Start-Up Birds Eye Systems

Mumbai: Indian technology start-up 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 said in a statement that it has raised a "fresh round of funding from Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures".

Financial details and nature of the investment, however, was not revealed.

The start-up firm offers real-time traffic and travel information for Indian cities through a variety of mobile and internet channels under brand Traffline.

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.

Birds Eye Private Limited had earlier secured its first round of institutional funding from Matrix Partners India.