InfoGation, a developer of telematics software and services that connect cars to the Internet, has won its first round of venture capital of $3.5 million from Nextreme Ventures and BridgeWest.
The investment will be used primarily to expand into developing location-based information and commerce applications that will improve the safety and productivity of drivers. InfoGation will also expand its sales and marketing activities as well as senior management team.
“We selected Nextreme because of its focus, commitment and expertise in wireless Internet access, and its belief that telematics is a huge untapped global market whose time has come,” said Ken Liu, InfoGation’s CEO. “From the first meeting on, we knew we were going to do a deal with Nextreme because of its value-add in the wireless communications industry.”
Nextreme Ventures and BridgeWest are investment funds focused on the wireless communications sector. Both funds are affiliated with Wireless Facilities, the vendor of wireless communications infrastructure management services.
“We are very excited about InfoGation because it is an early leader in telematics – the convergence of wireless access, the Internet and vehicles; the possibilities are endless,” said Taher Behbehani, CEO of Nextreme Ventures who will be on the board of directors of InfoGation. “We invested because we are impressed with InfoGation’s core management and technical teams, current products and customers, and the company’s vision.”
InfoGation enables car manufacturers, tier-1 auto suppliers, fleet operators and wireless carriers to provide value-added services, product differentiation, increased customer retention and incremental revenues. InfoGation, Microsoft and Clarion of Japan worked together to create the Microsoft Windows CE for Automotive platform, the open development platform in the automotive industry. InfoGation’s customers and partners include companies such as Microsoft, Clarion, Visteon, Peugeot Citroen, Navigation Technology, Go America and Freightliner. Founded in 1996, InfoGation is headquartered in San Diego, California.