Geospatial Intelligence Startup Intents Mobi Raises $1 Mn Funding in Bridge Round Led by DevX Venture Fund
|Intents Mobi Founders Tabrez Alam & Naresh Kachchi|
- Had raised 600K USD in seed round in April 2021
- New funding will be used to acquire new customers & service existing ones.
- Allocations for increasing insights & geocodes by 5X
- Recent changes in national GIS policy by Government came as a huge boost
Gurgaon based Intents Mobi, a geospatial intelligence startup, today announced that it has raised $1 Million in a funding round led by DevX Venture Fund. The round also saw participation from other investors like Unnati Labs and multiple marquee strategic angels from Logistics & Mobility sector whose ventures are backed by Tier1 VCs.
Speaking on the occasion, Naresh, Founder – Intents Mobi, said, “It is heartening to bag funding at this crucial stage when we are focussing on growing our capabilities and widening our tech stack. At Intents Mobi, we work on solving the issues with GIS data that impacts every industry connected to mobility.”
Further to this, Naresh commented, “India is a unique country with one of the highest densities of roads in the world and addresses that are inconsistent. Hence we focus on gathering situational awareness information about the two most critical elements of routing: the destination and the route. Our hardware independent technology ensures that we are able to map the entire country without investing heavily in capex. The funds will be used for increasing the collection of GIS information for India and for further product development. Since we already generate insights for almost 4.5 crore kms of roads per day and process 3 million geocodes every month, the funds will enable us to increase this by 5X and cover the 50 most populous cities of the country by the end of the year”.
Commenting on the funding, Umesh Uttamchandani, COO, DevX Venture Fund, said “At DVF (DevX Venture Fund) we are excited to lead the funding round in Intents Mobi with our follow-on participation! It is a testament to the strong track record and our confidence in the massive potential of the enterprise. Our investment approach largely revolves around having a strong founding team, which Tabrez and his team match. With their immense understanding of the location intelligence segment, Intents Mobi is having a huge impact on every industry connected to and dependent on mobility. Envisioning the all-pervasive impact their location intelligence will have across segments, industries and markets is extremely heartening. Most importantly, it is a true “Make-in-India story”!
Intents Mobi counts some of the biggest names in various industries as their clients including Here Maps, TomTom and Honda among others. The startup aims to raise their Series A of over $5 Million by the end of this financial year.
DEVX is a co-working cum accelerator & VC envisioned to provide world-class, best-in-breed services to its clients. Firmly rooted in the ethos of collaborative growth through partnerships, DEVX offers immersive accelerator services across the value chain.
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