WhatsApp’s co-founder, Brian Acton, has announced his plans to invest in an Indian startup.
Read in Hindi
(CCM) — In a move to boost the availability of internet-enabled cars in India, WhatsApp's co-founder, Brian Acton, has made public his plans to financially back the Indian startup Trak N Tell. The company, which was founded ten years ago by Bits N Bytes Soft Private Limited, is a car-tracking telematics solutions startup. It sells a GPS-enabled device that allows car owners to easily trace their vehicles and manage the device's preventative engine maintenance notifications from any location. Trak N Tell is pushing it as an ideal product for users who wish to keep an eye on several vehicles at a time.
Acton, along with a few other international investors, will be bankrolling the Gurgaon-based company, which will use the funds primarily in its major business expansion and product development. According to a recent report released by IHS Automotive, a global research company, 60% of the total vehicles in the United States — roughly 10 million — will be equipped with internet connectivity within two years. Trak N Tell hopes to mirror this in India. "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," the CEO of Trak N Tell, Pranshu Gupta, said in a statement. "We are happy to see rising interest in the 'connected cars' space in India. This funding is indicative of [this and of] a global appreciation of our attempt to endorse the Make In India initiative," he added.
Photo: © endermasali - Shutterstock.com