Wireless-Location Service Firm InfoMove Raises $6.2 Million
InfoMove, a leading developer of personalized,
location-based applications and wireless services, successfully
closed its third round of funding by securing $6.2 million. ComROAD
AG, a leading provider of telematics networks, is the largest
investor in this round. The remaining investors are undisclosed
private parties.
InfoMove is currently conducting third-party trials of its
technology with partners and is preparing to commercially launch its
products later this year.
InfoMove markets its technology to wireless carriers, automobile
companies, and major hardware and software providers. Applications
and services include audible turn-by-turn directions, traffic
information, vehicle diagnostics, maintenance alerts, and
text-to-speech enabled e-mail and Internet content such as news,
stocks and weather.
For more information: http://www.infomove.com
Mobileinfo Comments and Advisory: We have stated
elsewhere on our website and in other reports that location-based
wireless area is a safer bet for VCs. There are still opportunities
but it is getting filled up. So startups better have serious
differentiation in how they serve this market.
