Bangalore based Nivaata systems which offers location-based solutions for enterprises, has raised an undisclosed amount of funding from Dubai-based GWB group and Blume Ventures, reports NextBigWhat. The startup will use the funds for developing infrastructure, verticalizing products, customer acquisition and hiring.
The company had last raised funds in May 2013, wherein it had raised an undisclosed amount of investment from Blume Ventures and a clutch of angel investors. It had raised an overall $1 million investment across multiple rounds until now.
Nivaata’s flagship product “Verayu” is a location intelligence platform that provides solutions for asset monitoring, fleet tracking and employee transportation solutions. The platform works by detecting location using both mobile and GPS networks.
Verayu also provides hardware for its asset monitoring solutions, which includes a matchbox sized tracking system to be installed on vehicles and a location API which provides location as a service to companies, enabling them to integrate location intelligence to their existing enterprise automation tools.
Besides Verayu, Nivaata also provides a cloud based mobile workforce management system called FieldView to monitor field forces. The company claims to have customers like Symantec, Cisco, Volvo, Redington and ZS Associates among others.
Other players in this segment include Bangalore-based MoveInSync which had raised $5 million investment from Inventus Capital Partners, Qualcomm Ventures, and Saama Capital in August last year and Bangalore-based Cubito which had changed its business model to become a employee transport solution provider in September last year.
AssetTrackr also offers vehicle tracking solutions and had raised $500,000 investment in March 2013 while location based services and maps company MapmyIndia had introduced a vehicle safety solution with house-level data called Rover in April last year.