Nexus, Founders Fund invest $7m in India's HyperTrack

HyperTrack will use the new capital for development of its software, which is primarily targeted at businesses to allow them to track people and goods in real time. Naren Gupta, a managing director of Nexus, will join HyperTrack’s board. Ashih Gupta, co-founder of Helion Venture Partners, is also a board member, having joined in February when HyperTrack raised $1.5 million from US-based Social Capital and Vy Capital, along with several angel investors.

HyperTrack’s services are available as an application programming interface (API) designed to be easily integrated into a business’s existing website or app in order to see users’ location. The company claims its product is used by Indian companies in a range of sectors, including delivery, home service, travel and logistics, and it counts Indian online services companies Zomato, MakeMyTrip, and Delhivery among its customers.

Along with its business product, HyperTrack has also developed Send ETA, a consumer-focused app that allows users to track their travel history and share it with friends.

“As new applications become location-powered, HyperTrack will be able to offer unique location-related capabilities, analytics, and other services,” said Gupta in a blog post. “Hopefully new applications and new capabilities will feed off each other to leverage location information more deeply and thus improve a broad range work and leisure use cases.”

Nexus is investing out of its fourth India fund, which closed in 2015 at $450 million. The vehicle focuses on seed and early-stage investment opportunities in companies with disruptive business models in the consumer, healthcare, financial services, and education sectors. 

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• Topics
• South Asia
• Technology
• Support services
• Early-stage
• India
• Nexus India Capital Advisors
• TMT