Eachpal, a Shanghai-based family safety startup, recently announced that it secured 3 million yuan ($488,742) of angel investment from VRV Software (SZ:300352), a Beijing-based information security service which will hold 10.7% stake in the former.
Lu Gangqun, chief operating officer of Eachpal, said that the fund will be poured into marketing, product upgrading as well as cooperation with family and auto security system developers.
Eachpal offers both hardware and apps to keep track of our loved ones or precious properties. First, users can attach the remote positioning devise powered by GPS/GSM/WIFI to aged parents, children, pets or cars, and then, they can monitor the current location and historical tracks of them via an app with which family members can chat with each other.
People wearing the tracking devices can send SOS alerts to their family members in case of emergencies. In addition, users also can set a parameter within or out of which their targets can roam free. Once they approach the boundary, the device will send signals, and the users will receive an app notification on their mobile devices.
It is the promising future of family safety industry and the 20-member team of Eachpal that attracted VRV Software to invest in the company, the investor disclosed.