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Whatsapp Cofounder Brian Acton Invests in Trak N Tell

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Whatsapp Cofounder Brian Acton Invests in Trak N Tell Indiatimes The Times of India The Economic Times More Sign In / Sign Up FOLLOW ET: Startups Home Small Biz Startups Entrepreneurship SME Sector Policy & Trends Marketing­Branding Legal Money More 12 You are here: ET Home › Small Biz › Startups Search for News, Stock Quotes & NAV's ஈ­㬩 CHOOSE 04:05 PM | 13 JUL EOD ெசெசಀꔀ நிஃ글㬩 50 ேகா (எ੭சிஎಀꔀ… எꔀ㬩/ஐஎ… CREATE LANGUAGE PORTFOLIO மா ಀெகꔀ… MARKET STATS 27,815 7.04 8,519 ­1.55 31,213.00 174.00 67.05 ­0.13 ஆ글­ஐ TAM WhatsApp co­founder Brian Acton invests in Trak N Tell By Biswarup Gooptu, ET Bureau | Jul 11, 2016, 03.04 AM IST Post a Comment READ MORE ON » WhatsApp | Trak N Tell | Paypal | Cleartax | Brian Acton NEW DELHI: Gurgaon­based car tracking RELATED VIDEO telematics solutions startup, Trak N Tell, has raised an undisclosed sum of funding 1 from a group of investors, led by WhatsApp cofounder Brian Acton. While the terms of the Series­A round were not disclosed, Acton, along with two other investors, whose names have also not been revealed, are believed to have pumped in about $3.5 million (Rs 23.3 crore) in the WhatsApp co­founder invests in India­bound startup nine­year­old venture, making this the latest transaction in the country's startup ecosystem involving a high profile Silicon Valley­based tech entrepreneur. InApril, PayPal cofounder Max Levchin and Scott Banister, an early investor in Facebook and Uber, led a Rs 8.6 crore round in financial technology startup ClearTax. This is the first investment for Acton in India. The 44 year­old is primarily known for founding mobile messaging app WhatsApp, along with Jan Koum. "We are very pleased to have Brian on board, and he's been of tremendous help in terms of strategising, and planning for the company's next stage of growth," Pranshu Gupta, Like Share 3.6M people like this. Sign Up to see what your friends like. chief executive of Trak N Tell, told ET. Founded in 2007, Trak N Tell provides sophisticated vehicle telematics solutions, which claims to allow for predictive engine failure, preventive maintenance notification and fuel monitoring system, among others. Check the performance Make health and before investing in security your Mutual Funds companion! Motilal Oswal Mutual Fund ICICI Lombard Recommended By Colombia Its flagship device, Intelli7, is a GPS­based unit that enables car owners and fleet owners to track their vehicles and even immobilise them in case of a theft. "Pranshu has extremely interesting plans for the Indian automotive market and I am very excited to help SPOTLIGHT him scale his business further as an investor," Acton said in an email. Political potpourri Policy parlour Consumers will have to spend Rs 5,999 for the Intelli7 unit, which covers the cost of the hardware, SIM services and cloud­based services for a period of three years. The assembly of the Intelli7 unit has been outsourced to a local manufacturer. According to Gupta, the startup, which caters to both enterprise and retail segments, will use the proceeds to expand its presence across the country. The company expects to be in Bengaluru by the end of the next quarter, followed by Mumbai. "We also plan to utilise a portion of the funding round towards scaling up our R&D, as well In battlefield UP, the elephant Modi government putsas for marketing. We are targeting to be in 500­1,000 stores by the end of the current has its own limitations kerosene on slow boilcalendar year," Gupta said. The elephant was seen slowly ambling The government has paved the way to towards the UP Vidhan Sabha till recently, prune fuel subsidy. On July 1, it raised theGupta, an alum of University of Florida, and who has also had a stint with Yahoo, seed­ but its baby steps now seem to have been price of kerosene by 25 paise a litre, thefunded the company with Rs 3­Rs 4 crore. According to the CEO, Trak N Tell, which halted with several self­goals. first time in five years. reported revenue of Rs 2 crore in the last fiscal, plans to close financial year 2017 with a Modi government plans e­visa for another 36 countries top­line of about Rs 3­Rs 4 crore. Here's why India sorely needs to try real democracy in Kashmir Stay on top of business news with The Economic Times App. Download it Now! Recommend 12 people recommend this. Sign Up to see what your friends recommend. 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