Home security startup Biizlo has raised around INR 3.5 crores from angel investors Joge Bharadwaj and Ritesh Sharma, both directors of Mumbai-based Eagle Group. The Mumbai-based startup will use the funds to boost its sales and improve operations, marketing and technology.
Founded by former Indiabulls executive Nishant Katyal in 2017, the startup provides home security through its mobile application for society residents. Biizlo is planning to change the way residents manage and authorize visitors and help residents to securely communicate and coordinate effectively for visitor entry and exit processes.
The mobile app is operated by trained security guards at the entry gates. When a visitor comes to meet someone in the society, the resident gets an instant notification in their app including a photo, mobile number and vehicle number among other details.
As of now, Biizlo is operational only in Mumbai but plans to expand its services and offerings to cities like Pune, Bengaluru and Hyderabad.
Nishant Katyal, Founder and CEO, Biizlo, said, “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 the digitalisation of residential communities in order to have a crime-free city.”
The security services market in India is worth $6 billion while the gated premise security market including manual guards and security equipment is estimated to be worth $2 billion, according to a Grant Thornton report.
Due to this huge opportunity ahead, many startups are leveraging the technological aspect to fill the gap in the sector. Earlier in October this year, myGate raised INR 65 crores in a series A round of funding led by Prime Venture Partners.