You might not believe it, but car theft is on the rise. Older cars were usually easier to steal due to reduced anti-theft protection, but it seems the advantage of modern cars is waning. Car thefts bottomed out in 2014, with a relatively flat per capita rate of car thefts between 2010 and 2019.

But that’s changing fast. 2020 saw a massive spike in car thefts, and 2021 saw the highest number of car thefts since 2008.

a startup, MaxTracker, is trying to combat this trend, which is costing Americans up to $24 billion a year in auto theft and $350 million in bicycle theft. MaxTracker is a startup growing on StartEngine, which means anyone can invest in this high-growth startup for a limited time.

Why it matters: Car theft is on the rise and losing a car can be a devastating blow to any family. MaxTracker wants to solve this with its innovative GPS and 5G platform.

MaxTracker builds a range of devices with GPS technology and 5G connectivity. You can use an app on your phone to track your child’s car, bike or backpack anywhere, anytime. Unlike Apple’s AirTags or Tiles, these don’t rely on Bluetooth technology, so they’re not limited to within 30 feet of your phone.

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In 2020, there were approximately 810,000 auto thefts in the United States. That number rose to 932,329 in 2021 and was reportedly 500,000 in the first half of 2022. Notwithstanding the rising trend in auto debris, the figure averages over 700,000 thefts a year, which is probably worrying most people.

Since the average cost of a car is constantly increasing and cars are typically one of a family’s greatest assets, a stolen car could cripple a family’s finances. The financial strain of buying a new car, missing work to find alternative transportation, and increased insurance premiums would be catastrophic for any family.

MaxTracker…