HyperTrack, a startup which enables businesses to track products and executives, has today announced that it has raised $1.5 million in its latest funding round from Chamath Palihapitiya’s Social Capital and Vy Capital.
Along with them, a bunch of angel investors like Deepinder Goyal of Zomato and Hari Bhartia of Jubilant Foods, among others have also poured in money in this round. Also, Ashish Gupta, co-founder of Helion Venture Partners has joined the board of the company. He said,
HyperTrack will continue providing increasingly richer building blocks that leverage location (value-added-location as a service). This is similar to what Twilio has done for communication functionality.
HyperTrack, co-founded by Kashyap Deorah and Tapan Pandita, helps businesses track products or people in real-time. It already works with more than 100 firms across more than 30 countries. The company has created a software which extends tracking services on B2B as well as C2C front.
It has been launched with a vision to creating a global technology firm from India. Its list of clients includes on-demand logistics company OkHi in Kenya, ride-sharing company Carpool Arabia in Dubai, Mumbai-based healthcare services start-up Care24 and an online education start-up called Toppr.
Kashyap Deorah, co-founder of the company, said,
Gupta has joined a non-Helion backed company only twice in the past and we feel honored to have him. We also plan to start an office in San Francisco with about five people. We are hiring software engineers, data scientists and developer relations roles.
He also said that the company is now looking forward to utilise the raised capital towards strengthening its product and hire another ten people in key roles.
Even though it is a paid product for businesses, the company also runs a free app for customers which sends ETA and allows users to track a trip live with an option of sharing your real-time movement with friends. For the paid version, it is presently charging a fee of 4 cents for every order tracked.
The company says that it is solving a deep technology problem. As per the founders, the company’s focus is to continue building a superior product, engage deeper with customers and build the world’s best team for location-based services.