Four-year-old wireless video startup
Avaak Inc. has closed its first institutional round of funding, a $7 million installment from three Silicon Valley firms that builds on existing income from government grants and contracts. The company has developed a wireless camera system that communicates via radio frequencies, useful in security and monitoring applications.
Trinity Ventures led the round, alongside investments from InterWest Partners and Leapfrog Ventures. San Diego-based Avaak initially developed its video systems after receiving grants from The Defense Advanced Research Projects Agency and Office of Naval Research, but intends to introduce a consumer product line beginning early next year.
-- Paul BonanosSee press release from Avaak
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