WhatsApp co-founder invests in 'Trak N Tell'
What's the story
Car tracking solutions startup Trak N Tell, has raised funding from a group of investors, led by WhatsApp co-founder Brian Acton.
This is Acton's first investment in India.
While terms of the Series-A funding were undisclosed, it is believed that the firm raised about $3.5 million (Rs. 23.3 Cr).
The company will reportedly use the funds to scale up Research and Development, and marketing.
Foundation
When did it begin?
Founded in 2009, Trak N Tell was the entrepreneurial brainchild of Pranshu Gupta.
The idea of starting the company came to Gupta after experiencing the misuse of his personal vehicle by his driver.
The company offers car tracking telematics solutions, that can keep track of one's car activities as well as accidents.
It also provides insights on predictive engine failure, fuel monitoring system, etc.
Pranshu Gupta Profile
About the Founder
Trak N Tell founder Pranshu Gupta is an engineer.
Pranshu, in the past had worked as a system analyst with Exxon Exploration and had a stint with Yahoo Inc.
In 2003, he started his entrepreneurial journey with Pran Enterprises, an outsourcing company.
Subsequently in 2007, he founded Bits N Bytes Soft Pvt Ltd., under which 'Trak N Tell' is operated.
05 Feb 2016
Trak n Tell unveil their GPS product
Trak n Tell unveiled their GPS product "Intelli7" at the Auto Expo 2016, in Greater Noida.
Intelli7, their flagship product, is a GPS-based unit that enables car owners and fleet owners to track their vehicles and immobilize them in case of a theft.
The latest version of the device will allow direct communication with the people inside a vehicle in case of an emergency.
Information
Solutions to both enterprise and retail segments
Trak N Tell, the Gurgaon-based company, caters to both enterprise and retail segments. The company expects to enter Bangalore by the end of next quarter and then in Mumbai. It targets to be in 500-1000 stores by the end of 2016.
Information
Who are the competitors?
Startups like CarIQ and Raksha Safe Drive are Trak N Tell's direct competition. Mainstream competition comes from automobile companies and their Research labs. While Renault Nissan's technical center is working on a car diagnostic tool over mobile, Mahindra and Mahindra also have a similar platform.