Helping to make cities and it’s people smarter, GeoSpice a Location based service provider is developing real-time visualization and analytic for public transport services.
The company was founded by two brothers Ricky and Nicky, who conceived the idea of GeoSpice few years back. The same entrepreneurial bug forced Nicky to quit his full-time in job in Kuwait and move back to India in 2012. Prior to GeoSpice, Ricky worked for about two years in Google India leading the Geo Data Team to prepare high quality routing data for India and Africa.
Its co founders over the years have worked on various projects in the area of providing navigation systems including real-time bus and person tracking. In 2013 the team of GeoSpice, in coordination with an Irish based company, developed Odikyo Runner Tracking mobile app that connects runners with their audience. The application provides real-time location and performance information to friends and family of runners during a marathon.
With its navigation services, GeoSpice is now developing a technology which enables better management of public transport through real-time visualization and analytic for bus operators. The company is also planning to release an API which can help third party developers to build other mobile/web services.
“We need to prepare our cities for tomorrow and our current model of private vehicle use is not sustainable. By 2021, the number of private vehicles in India is expected to increase three folds. With more people moving to cities, the number of vehicles on city roads are ever increasing. More private vehicles for commute means more congestion and traffic jams.” believes Nicky.
Currently looking at a B2B revenue model where GeoSpice would sell its product to organisations, the company intends to provide location based mobile/web products and services on consumer level as well in future.
The company was also chosen as one of the top 10 startups from Kochi by Microsoft BizSpark. Its ‘Open Car Sensing’, a cloud-based Mobile Geo Service won second place for the Open Innovation 2.0 Better Cities Challenge in Dublin this year, with Intel research lab sponsoring the prize.
Self funded so far, the company is hoping to raise money in the coming months. GeoSpice has also developed synergies with Irish University researchers for collaboration. “It is easier to work on such business ideas for the European market as compared to India as we have also noticed the integration of Geographical Information Systems (GIS) in Government agencies is still not very common in the country“ added Nicky.
But with changing tech scenario in the country, Location based services, or LBS, is going to be one of the most promising sector in coming times. According to a report, the industry which accounts for as much as half a billion valuation today, is expected to grow and become $2-5 billion sector in next 2 to 3 year. Other recent Location as a service providers in India include – Vidteq, Mojostreet and several more.