#crowdfunding#Nokia#Project Overlord#IndieGoGo#venture capital#Rim Tech#wheel theft#apps

Developers Search for Venture Capital to Launch App that Will Stop Wheel Theft

Tomas H. Lucero
|Apr 3|magazine5 min read

A group of software developers, alarmed by the recent and dramatic, increase in automobile wheel theft, have come up with a solution to thwart the phenomenon.

The name of the solution is Rim Tech. It is a tracking device and mobile app that will alert vehicle owners when their wheels have been tampered with, and will track the owner's wheels to the theft location within 10 feet. The developers are working on increasing Mobile Tech’s capability to track wheels down to zero feet.

The code experts, formerly with Nokia, have created an Indie Go Go crowd funding campaign, named “Project Overlord” to raise venture capital for their patent-pending anti theft technology. Their goal is to attract enough outside investment to bring the invention to the market in a timely manner.

In the meantime, owners of automobiles with custom wheels have no recourse if their property is stolen. Car dealerships are also a target of wheel thieves.

According to a 2012 Yahoo! News article, "Tires and wheels offer a near perfect combination of attributes to thieves. They are easy to haul, quick to remove, untraceable on online auction or classified sites, and frequently usable on several different vehicles, with a value that can hit $3,000 a set."

The New York Times reports that, “If you know what you’re doing [stealing wheels] can be done pretty quickly—in a matter of a minute or two. The wheels are long gone and have no way of being found."

Rim Tech is on target to launch in October 2015.  

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