Brian Acton first investment in an Indian startup
Gurgaon based telematics startup Trak N Tell received investment from 3 investors in their latest round of funding. WhatsApp co-founder, Brian Acton lead this round of funding and along with 2 other investors invested $3.5Million (Rs 23 Crore) in this venture.
Founded in 2007 by Pranshu Gupta, Trak N Tell provides solutions on predictive engine failure, preventive maintenance notification and fuel monitoring system, etc.
Trak N Tell’s founder and CEO, Mr. Pranshu Gupta started Trak n Tell as a venture after experiencing the misuse of a personal vehicle by their driver. This is when he realized that there isn’t any exact way in India to know if your vehicle is being economically and carefully used or not. Giving up on his corporate job, he utilized his engineering knowledge in tailoring a product that would revolutionize the market of car tracking and safety systems in India forever.
“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, told ET.
“Pranshu has extremely interesting plans for the Indian automotive market and I am very excited to help him scale his business further as an investor,” Acton said in an email.
Brian Acton is popularly know for being the co-founder of communications app, Whatapp. In 2009 Jan Koum (Founder of WhatsApp) invited Acton to be his co-founder. According to Forbes Brian is worth 5Billion USD. He is ranked 138 among the Fortune 400 people by Forbes and 338th billionaire in the world. He is ranked as the 120th wealthiest man in the United States of America. This is his first investment in an Indian startup.
This is the second startup that received funding from Silicon Valley Investors.