Security management app Biizlo raises angel funding
Biizlo, a mobile app-based home security app, has raised $500,000 (Rs 3.5 crore) in an angel funding round led by Joge Bharadwaj and Ritesh Sharma, directors at Mumbai-based security services firm the Eagle Group, a company statement said.
The startup will use the capital to increase its sales and for operations, marketing and technology, Nishant Katyal, founding partner and chief executive at Biizlo, said in the statement.
“Biizlo plans to penetrate the market by giving more emphasis to a customer-driven approach. Our vision is to replace the archaic paper-based visitor management system, ensuring digitalisation of residential communities in order to have a crime-free city,” Katyal added.
Run by Saaibizz Ventures Pvt. Ltd, Biizlo was founded in 2017 by Katyal, an MBA graduate from ICFAI University. Prior to setting up the venture, he was director and country head of Danube Properties and has also earlier worked at Indiabulls Ventures Limited.
Biizlo offers residential communities a security surveillance system via a mobile app. Residents get notified in real-time, wherever they are, about the arrival of visitors at the society entry gate, with a photo and mobile verification number, along with supplementary details.
The app allows residents to subscribe free of cost, can be used in any location and offers real-time priority calling.
After Mumbai, Biizlo plans to deploy its services in Pune, Hyderabad and Bengaluru. Launched four months ago, the company claims its app is being used in over 50 housing societies.
Founded in 1980, Eagle Security and Personnel Services Group has been offering manned security services to the construction, commercial, retail, industrial, and sports and leisure industries in India. It claims to have a client base of over 500 customers across the country and has a network of 25 branches.
“Due to the increase in home deliveries, service providers and unknown vendors visiting society premises in the era of e-commerce, people are extremely concerned about the security of their family members. Currently, there are not many security systems that provide residents the functionality to track, record, monitor and take action on visitors who enter and exit their premises in real time,” Eagle Group’s Bharadwaj and Sharma said in the statement.
Deals in the space
Another player offering mobile-based security management solutions for gated premises is Bengaluru-based myGate. In January this year, the venture raised Rs 16 crore ($2.5 million) in its first round of external funding led by Prime Venture Partners.
In August this year, Delhi-based publicly listed Security and Intelligence Services (India) said it will pick a 51% stake in Gurugram-based SLV Security Services. SIS had debuted on the stock market in August 2017. SIS was founded in 1985 by Ravindra Kishore Sinha and is also present in Australia after having acquired Chubb Security Personnel Pty Ltd in 2008.