WhatsApp co-founder Brian Acton has invested in Trak n Tell, a car tracking telematics solutions provider, according to a latest report from the Economic Times. The amount of the Series A investment is not known.
Founded in 2007, Trak N Tell is owned and operated by automotive telematics technology company Bits N Bytes Soft Pvt. Ltd. The Gurgaon based company plans to use the funds to expand its presence across the country and invest in product development.
The company currently provides a GPS product dubbed as Intelli7, that enables car owners and fleet owners to track their vehicles. It also allows for predictive engine failure, preventive maintenance notification, fuel monitoring system and more. As per the report, the company expects to set up an office in Bengaluru by the end of next quarter followed by Mumbai. . It aims to be in 500-1,000 stores by the end of 2016.
Pranshu Gupta, CEO of Trak N Tell, said in a statement.
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 Make In India initiative,” We will launch a superior safety solution for individual car and bike owners in the country. Our aim is to offer an Indian version of connected cars that are available in Europe and North America.