Search engine behemoth Google and Chinese based smartphone maker Xiaomi seem to be cooking an investment recipe. If reports are to be believed, both companies are among the top contenders to invest in a startup Where Is My Train.
As is evident, this startup through its app tries to offer precise update on trains. The unique thing about this app is that it can offer update even without internet and GPS.
Reports claim that while Google is interested in owning a majority stake, Xiaomi is only interested in picking up majority stake.
Both Google and Xiaomi have so far refused to comment on the news report. Where Is My Train has also declined to respond on the news report.
If this deal materializes then it would be first time that a big reputed internet company will be fully acquiring an Indian tech startup. It must be noted that Google had acqui-hired Bengaluru headquartered startup Halli Labs last year. Facebook and Twitter have also made small acquisitions in India for talent purposes.
Where Is My Train, owned by Sigmoid Labs, is currently one of the most popular train apps in the country. The startup has reportedly witnessed more than 10 million download for its app. However, it is not only one in the market that is trying to win over customers by offering up-to-date information on train schedule.
Other well-funded startups like RailYatri and iXigo are also in the fray to grab the market share. Whie RailYatra is funded by former Infosys CEO Nandan Nilekani, the latter is backed by high profile VC firms like Sequoia Capital and SAIF Partners.
Where Is My Train is founded by five ex-executives of TiVo Corporation, a tech entertainment company based in the U.S. Its app provides seamless offline integration of Indian Railways and IRCTC timetables. This negates the need to access internet and GPS.
The app also dispenses complete information about train schedule on partial information like source and destination and incomplete train names. This relives the customers from inconvenience of offering precise train numbers.
Where Is My Train is currently available in seven regional languages as well as in English.