WhatsApp’s co-founder Brian Acton, along with some other investors, have made an investment in Indian internet of thing startup ‘Trak N Tell’. The Indian startup uses telematics and other connected car technologies to ensure safety of passengers while traveling in their vehicles.
The quantum of investment, however, has remained undisclosed.
Trak N Tell develops products for the ‘connected cars’ segment, an area where global automotive companies like Ford, BMW, Aston Martin and Mercedes Benz are putting their bets on.
The company currently provides a GPS product that enables car owners and fleet owners to track their vehicles and even immobilize them in case of a theft by simply tapping a button on their smartphone. It also allows for predictive engine failure, preventive maintenance notification, fuel monitoring system and more. It has a R&D team of electronic engineers, embedded software engineers, cloud engineers and mobile app developers. The Trak N Tell hardware has been designed to withstand the harsh environments of Indian roads.
“We are happy to see rising interest in the ‘Connected Cars’ space in India. This funding is indicative of the same and a global appreciation of our attempt to endorse the #MakeInIndia initiative. We will be launching a superior safety solution for individual car and bike owners as compared to the present devices available in the market. Our aim is to offer an Indian version of connected cars that are available in Europe and North America. While the quality is in parity with international standards, our prices will be set in accordance to the Indian market,” said Trak N Tell CEO Pranshu Gupta.
Trak N Tell will be deploying the raised funds towards product development and business expansion. It seeks to hire passionate professionals in multiple verticals which include R&D, operations and marketing.
“Pranshu has extremely interesting plans for the Indian automotive market and I’m very excited to help him scale his business further as an investor. I’m very pleased with the results of the company to date. It is great to be part of Trak N Tell,” said WhatsApp Co-founder Brian Acton.
In the United States, the researcher IHS Automotive predicts that by 2017, 60 percent of all cars sold in the U.S. (about 10 million vehicles) will be connected to the internet. Globally, it is estimated that there are 23 million connected cars on the road today with projections for 152 million by 2020. Going by the above mentioned estimates, the industry can grow by 150% y-o-y.