In a move to speed up the availability of internet-connected cars in India, WhatsApp Co-Founder Brian Acton with other global business leaders on Monday announced they will invest an undisclosed amount in Trak N Tell — a Gurgaon-based car tracking telematics solutions startup.
Founded in 2007, Trak N Tell is owned and operated by automotive telematics technology company Bits N Bytes Soft Pvt. Ltd.
The company promises to launch a superior safety solution for individual car and bike owners in the country, that offer an Indian version
of connected cars available in Europe and North America,
Trak N Tell will deploy the raised funds towards product development and business expansion.
The company currently provides a GPS product that enables car owners and fleet owners to track their vehicles. It also allows for predictive engine failure, preventive maintenance notification, fuel monitoring system and more.
According to the global research firm IHS Automotive, 60 percent of all cars sold in the US (about 10 million) will be connected to the internet by 2017.
Globally, it is estimated that there are 23 million connected cars on the road today with projections for 152 million by 2020.
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