TNF Ventures Incubates W-Locate
SINGAPORE, 5 May 2013 – W-Locate Pte Ltd (“W-Locate”), a Singaporebased location technology company which delivers innovative tracking solutions, have secured S$589k in pre-Series A funding led by TNF Ventures (TNF) through the Technology Incubation Scheme under the Singapore’s National Research Foundation (Prime Minister’s Office). The funds will play an important role in W-Locate’s roll-out and adoption plans for its core products.
W-Locate is the innovator behind the well-acclaimed products, FIND andXimLoc, which are productivity tools for vehicle fleet and workforce management respectively.
FIND combines tracking and telematics technologies with business analytics to empower fleet and assets owners to remotely track, manage and protect their assets. Most importantly, they can leverage on the business intelligence features in FIND to maximize the productivity of their fleet. FIND is currently adopted by regional large fleet owners from different industries in the ASEAN region. (Holcim (S) Pte Ltd, Soon Poh Telecoms, Samwoh Corp, etc)
First in the world, XimLoc offers a SIM-based cell positioning system which can accurately track any cellular devices in both indoor and outdoor locations regardless of OS. XimLoc is a proprietary technology, which uses information from the cellular network (2G/2.5G/3G/3.5G/4G) to compute the user’s position.XimLoc uses a residential java applet on the SIM card to sniff the network information and send them to XimLoc server, where the location engine computes the most probable location based its patent-pending algorithm.XimLoc has been rigorously tested and has been proven to be a practical solution that addresses the limitation of GPS i.e. the inability to track indoor and heavy power consumption. XimLoc comes with a full-feature web-based dashboard.
XimLoc is currently offered via major SIM card manufacturers (Morpho Cards (S) Pte Ltd & Bluefish Technologies Asia Pte Ltd) to their Global Customers.XimLoc has already secured 2 major telecommunications companies (StarHub Ltd & a major telco in Thailand) in Southeast Asia to provide location-based services. W-Locate is also currently in concluding talks with other telcos in Asia, Africa and the Middle East.
“This investment is a testimony to our efforts thus far and will help W-Locate fund both FIND and XimLoc regional expansion plan. We are also excited by the value that the TNF team is bringing to the Company. They are a highly experienced and well respected group of professionals and we believe their support will bring W-Locate to a new level of growth,” said Stevie Ooi, Chief Locationist of W-Locate.
“W-locate is a very unique tracking and telematics company. They use both GPS technology and their proprietary SIM card-based, XimLoc, to deliver an all-encompassing solution to address their customers’ needs. We are starting to see where M2M, Big Data and Cloud Computing are coming together to deliver some impressive benefits across a number of industries. Their solution offering has the potential to elevate into wider and more innovative uses. With their sound business model and good partnership with major telecom players, we expect W-Locate to be the leading player in Asia’s tracking and telematics market in 2-3 years’ time” said Shirley Wong, Managing Director of TNF Ventures Pte Ltd.