Vic Founded Tracks Raises $1 Million In Seed Funding

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Tracks, apps, iOS, photo sharing, Photobucket

New York: New York-based photo-sharing app Tracks has raised $1 million in seed funding from General Catalyst, TMT Investments, ENIAC Ventures, AppFund, BHV Ventures, Harbor Road Ventures, Atventure.us, and Alex Welch (Founder of Photobucket). In addition to the investment, Welch has joined the board. The funds would be used for the product development and securing distribution deals.

Tracks is a photo sharing app, which enables users to turn their images into stories by creating photo albums on the go with their friends who have to be invited to the group. These albums would be available both on the app and on the Tracks website. It also offers a physical photo album to create an all-in-one photo solution, by combining the online and real world photo viewing experience. Its aim is to create micro-social networks, stream the ‘tracks’, geo-tag photos into an interactive map.

Tracks was founded in May 2011 by Vic Singh, who is also the general partner at Eniac Ventures. Prior to that, he was the Co-Founder and Head of BD & Marketing at NearVerse. He was a venture capitalist with RRE Ventures, a Summer Associate at Chart Venture Partners, the Engagement Manager at Unisys and a Senior Consultant at Andresen Business Consulting. Singh did his MBA, Entrepreneurship and Finance from Columbia Business School, and holds a BS in Mechanical Engineering from University of Pennsylvania.

General Catalyst Partners is a venture capital and growth equity firm which invests in entrepreneurs building the technology-based companies, which will lead innovation and transform business.

TMT Investments is an investment company, which targets companies in the field of technology, media, and telecommunications. It aims at companies which operates in high growth areas and have the potential to become multinational businesses.

ENIAC Ventures is an independent seed stage venture fund, which focuses on the mobile software sector.

AppFund is a seed fund focused on the developments of apps for tablet devices. Their typical investment is in the range of $5,000 to $500,000.