Sources inform ''Globes'' that Wi-Fi start-up Aeroscout Inc. (formerly BlueSoft) has raised $11.4 million out of $20.5 million it is seeking in its third financing round. Existing investors - Pitango Venture Capital, Star Ventures, Intel Capital, and Menlo Ventures - are participating in the current round.
AeroScout VP R&D Daniel Aljadeff declined to comment on the report.
AeroScout has raised $28.2 million since it was founded in 1999. Investors include Intel Capital and Menlo Ventures of the US, Israeli funds Pitango, Star and TechnoPlus Ventures Ltd. (TASE:TNPV), and Comverse Technology Inc. (Pink Sheets: CMVT.PK), Cisco Systems Inc. (Nasdaq: CSCO), Qualcomm founder Andrew Viterbi, and Western Technology Investments (WTI).
AeroScout is developing enterprise Wi-Fi network solutions to accurately locate and manage assets and people in multiple environments. The system includes indoor and outdoor real-time asset location (RTLS), long range Active RFID, choke-point visibility and telemetry. The system does not burden customers’ communications networks while providing a wide range of applications.
AeroScout has strategic partnerships with Cisco, IBM (NYSE: IBM), Microsoft Corp. (Nasdaq: MSFT), MobileAccess Networks Inc., and other technology companies. The company says, that, as a result, its system has been installed at over 100 companies worldwide, including car and other manufacturers, logistics companies, and healthcare providers.
AeroScout has offices in both Israel and California, where founder and CEO Yuval Bar-Gil is based. Before founding the company, he was a technology buy-out consultant for Bain & Company, and held a top position at Elisra Group.
Published by Globes [online], Israel business news - www.globes.co.il - on February 25, 2007
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