HyperTrack raises $7 million from Nexus Venture Partners and Founders Fund

Moglix

HyperTrack, a platform that helps businesses by providing them a ‘track and trace’ service for their local deliveries in real time, has raised $7 million in a Series A round led by Nexus Venture Partners and Founders Fund.

With the funding, Naren Gupta of Nexus Venture Partners has joined HyperTrack board. In February, Helion Ventures co-founder Ashish Gupta had joined the company’s board.

Launched in October 2015 by Kashyap Deorah and Tapan Pandita, the company has been able to raise second round of funding within a year’s time. In September last year, the company had raised $1.5 million from angel investors in Silicon Valley.

The platform which has been testing its product over a year claims to clock a tracing over 1 million hours per month. Companies like Zomato, HouseJoy, MakeMyTrip, Redbus, Delhivery, Toppr and others are using the app.

HyperTrack provides pay-per-use software for businesses to track people and goods live on a map. It wants to cater to businesses across the world.

Apart from its core product for businesses, the company also offers a consumer app called Send ETA, which allows users to track a trip live with an option of sharing real-time movement with friends.

“I predict that within the next two years, several as of now unimaginable applications would be enabled using this (HyperTrack’s) technology,” said Nexus managing director Naren Gupta.

“Some applications will combine location with other micro-services like payments, identity, or communications. We are also likely to see applications for business use. For example, a sales or service person may receive relevant information based on their current location or expected future location. As new applications become location powered, we are also likely to see HyperTrack offer unique location-related capability, analytics or service,” Gupta said in a post on Medium.

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