TracPlus, which provides tracking services to air ambulances, firefighters and the military, has announced it has secured $5 million of funding from Kiwi tech fund Movac.
As part of the deal, the firm will acquire Cambridge-based v2track, which already supplies it with tracking devices.
TracPlus was founded in 2007 and its varied client list worldwide includes Californian forest fire protection department CalFire; Australia’s National Aerial Firefighting Centre and even San Diego Gas & Electric.
Founded in 1998, Movac has invested in more than 25 companies. Its current portfolio includes soft tissue repair company Aroa Biosurgery, cloud-based component specialists Author-it, and point-of-sale and retail management software Vend.
Chief executive Trevor McIntyre said, “We had a number of funding options, and we chose Movac due to their investment style and ‘hands-on’ experience in growing successful tech companies. It was also really important to us that there was a strong personality fit between the two teams.”
TracPlus staff have already switched to working from home during the coronavirus crisis to allow clients such as aeromedical charity RACQ LifeFlight Air Ambulance to continue flying.
McIntyre said, “We have implemented measures to do what we can to support our operators who are at the face of COVID-19, keeping their teams safe, continuing to provide tracking, 24-hour distress and emergency monitoring to ensure operators can stay in touch with their people.”
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