I came across this start up - TrackEveryCoin.com. The website name tells it all. This is basically a way to track the money one spends. The product/service is yet to be launched. As per the website, there are two ways to use this service -

1. Download a app on to your mobile (needs GPRS) and/or

2. Buy a key chain sort of hardware (called as TECI)

Basically, either the mobile or the TECI will provide mechanism to input data that gets synched up with database.

Though the startup seems to be funded by Govt. of India, to me this is absolutely not exciting.  This seems to be a very complicated solution to a very simple and common problem of expense tracking - especially the custom hardware piece.

See how elegantly the problem of expense management is solved by Xpenser. One can submit the expenses by myriad ways - email, sms, twitter, voice mail(!), IM, website itself etc. One can take picture of the bill/receipt and send email along with the description - you can have your expenses and the associated bills together! It even provides API for anyone to use/extend Xpenser the way they would like to!  People in India (or non-US/Canada residents) can use sms interface of Xpenser via twitter - as mentioned in the faq.

Actually, I hope that someone will work with Xpenser folks and create SMS interface so that users can send SMS to an India based number - instead of the current work around via Twitter. Given the way SMS is popular in India, it will be embraced by one and all very easily.

Filed under: Startup