Gurgaon-based automotive telematics technology company Bits N Bytes Soft Pvt Ltd doing business as Trak N Tell, raised an undisclosed amount of funding from a group of investors including Brian Acton, co-founder of WhatsApp.
Founded in 2009 by Pranshu Gupta, Trak N Tell Intelli7 provides hassle free car tracking solutions. Its enhanced car safety system also ensures the safety of the car and family.
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.
Pranshu Gupta, CEO, Trak N Tell said, “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.”
IHS Automotive predicts that by 2017, 60 percent of all cars sold in the US (about 10 Mn vehicles) will be connected to the internet. Globally, it is estimated that there are 23 Mn connected cars on the road today with projections for 152 Mn by 2020.
Trak N Tell plans to deploy the raised funds towards product development and business expansion. It seeks to hire talent in multiple verticals including R&D, operations and marketing.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
