Taisys Invests USD 7.2 Million in ATrack Technology Inc to Boost Automotive Intelligence in India
Jun 10, 2024
BusinessWire India
Noida (Uttar Pradesh) [India], June 10: Taisys, headquartered in Taiwan, has made a strategic investment of 7.2 Million USD in ATrack Technology Inc, an IPO company TPEX:6465, through private placement.
Founded in 2010 and publicly listed in 2015, ATrack is a leading brand offering development, manufacturing and global solutions for the Automotive Intelligence industry. This investment signals their commitment to bringing this cutting-edge technology to the Indian Automobile Industry. It positions ATrack to leverage Taisys' leading market presence and distribution network in India, while Taisys gains access to ATrack's advanced technologies and strengthens its position as a technology giant.
ATrack's core strengths lie in the development of AI dashcams, ADAS, DMS, LEO satellites (low-earth orbit satellites used for satellite-based tracking), and sensors. Their expertise in Advanced Navigation technology further adds to their capabilities.
Taisys is also partnering with the global hardware manufacturing to boost local manufacturing in India for semiconductor design platforms and AI dashcams. By setting up manufacturing units in India, both parties aim to not only serve the local market but also leverage India's growing ecosystem for global supply chains. These technologies are integral to various sectors, including automotive, logistics, and personal navigation, offering precise and reliable tracking solutions as well.
Jason Ho, the Chairman of Taisys Technologies said "This investment aligns with our vision to bring the best global technologies to India. ATrack's innovative approach and proven track record perfectly complement our growth strategy."
Abhishek Saxena, the Managing Director of Taisys India said "We are thrilled to partner with ATrack's technological prowess to leverage the upcoming wave of Automotive intelligence in India. This presents a unique opportunity for India to become a frontrunner in the field with truly groundbreaking automotive technology like AI dashcams, all while aligning with the Make in India initiative."
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