PanGo Pockets $10M

Wireless location startup finds more venture capital

Dan Jones, Mobile Editor

October 17, 2005

1 Min Read
PanGo Pockets $10M

WiFi location startup PanGo Networks Inc. has grabbed another $10 million in funding as it raises its profile in the wireless enterprise market.

A spokeswoman for the Framingham, Mass., startup says the firm will spend the money on expanding its engineering, sales, and marketing teams, and funding future revisions of its products.

PanGo -- despite sounding like a Japanese cartoon character -- actually makes products that send user location information from 802.11 and Bluetooth networks to wired and wireless networks.

The firm has been in the news recently after Cisco Systems Inc. (Nasdaq: CSCO) announced that it would use the firm’s tracking software as part of its RFID push. PanGo’s other big-name partner is chipmaker Intel Corp. (Nasdaq: INTC).

PanGo currently has 25 customers -- mainly in the healthcare and retail markets -- and a number of smaller partners. “We’re going to be announcing some new partners soon,” says PanGo’s spokeswoman.

Including the latest series B round, PanGo has now gathered over $18 million in funding. The lead investor in this round is Investcorp’s Technology Group.

— Dan Jones, Site Editor, Unstrung

About the Author(s)

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

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