04 April 2018, India:
IoT startup Letstrack has raised $1.7 in seed funding from US-based investor James Arthur. As a part of deal, James Arthur will join the startup as COO. James will focus on bringing international expansion forward with an anticipated launch to 50 countries by 2020.
“Putting the long-term needs of the customer above short-term gains have driven app use and hardware sales growth at an unprecedented rate in the industry. The startup is set apart by its ability to innovate with a software company at its core, and push that innovation out nationwide with it’s pan India service coverage,” the startup said in a statement.
“For me, it was a no-brainer because James was not only bringing money but also dedicating the next 10 years and for Letstrack that is invaluable. Now we have an investor and partner who compliment the missing capabilities of the startup and we can only say that the future is brighter than ever,” said Vikram Kumar, CEO and Founder, Letstrack.
“Vikram and I share the same core values and our complementary strengths can only serve to take Letstrack to the next level even faster. We believe that with the direction we are headed and the way the company walk side by side with our customer’s needs and company ethos, there is no limit to where we can end up,” said James Arthur.
Letstrack was founded by Indian entrepreneur Vikram Kumar in 2015. It makes GPS trackers for Vehicle Tracking System. It has manifested an extraordinary performance to emerge as one of the leading GPS tracking startups in UK and India.
(Image – Letstrack)