Technology start-up OriginGPS Ltd. has raised $900,000 from Van Leer Ventures Jerusalem and the Office of the Chief Scientist at the Ministry of Industry, Trade and Labor.
OriginGPS, founded in October 2006 by Haim Goldberger and Van Leer Ventures Jerusalem, is developing proprietary technology to minimize RF modules necessary for the creation of an especially small GPS module.
The company’s technology enables the development of a GPS system on a single, especially small module, thereby optimizing integration with mobile devices, such as cellular telephones and hand-held computers.
Van Leer Ventures Jerusalem CEO Oren Gershtein said, “The capital we invested will help OriginGPS complete development of its GPS system on a single module in 2007, and will lead the company to its next important financing round (Round A), which will involve Israeli venture capital funds.”
Published by Globes [online], Israel business news - www.globes.co.il - on November 7, 2006
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