Startups in the automobile space are currently focussing on solving key problems, including green transportation, reducing traffic congestion, on-demand mechanic services, and accident detection. One such startup, Trak N Tell offers car-tracking telematics solution that can keep track of your car activities as well as accidents.
And to actively do so, the Gurugram-based startup has raised an undisclosed amount of funding from a group of investors, led by WhatsApp co-founder Brian Acton. The company has not disclosed the terms of the deal but rumours suggest that investors have pumped in about $3.5 million(Rs. 23.3 crore) into the company.
Trak N Tell plans to use the funds to expand its presence across the country. It is planning to set up its shop in Bengaluru by the end of next quarter. It will then look into launching its services in Mumbai.
Pranshu Gupta, chief executive of Trak N Tell, also adds that(via ET),
We also plan to utilise a portion of the funding round towards scaling up our R&D, as well as for marketing. We are targeting to be in 500-1,000 stores by the end of the current calendar year.
Pranshu Gupta founded Trak N Tell in 2007 with inspiration from OnStar. OnStar is a 360º car communications service by General Motors. OnStar came into existence way back in 1995 and has developed into a complete communication suite installed in cars. It can track cars, give alerts to kins in case of accidents, connect to emergency services, etc.
Since there was no such service in India despite an alarming number of accidents every year, Pranshu created Trak N Tell. Initially, he pitched this car tracking telematics product to automobile manufacturers.
However, he was not able to scale the business effectively in B2B space due to already existing similar solutions. Hence, the company decided to enter consumer segment as well. The company now has a flagship device called Intelli7 which aims to bring a personalized touch to car safety.
It is a GPS-based unit that allows people to track their vehicles in real time. It can even immobilise them in case of a theft. It offers a range of other features such as button-push security for panic situations, speed monitoring from home, intelligent self-calling in case of accidents, engine health status notification, over speeding alerts, etc.