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Norwalk-based Interactive MOBILE @dvertising, a company that develops what it calls "geo-intelligent" mobile visitors' guides for travelers, charges nothing for its web applications. But the company has hit it big with investors--half a million dollars big.
Connecticut Innovations, the state's quasi-public authority committed to technology investment, made the $500,000 award to Interactive MOBILE in an effort to support a local tech company with great potential, one of a "growing base of companies serving the travel industry" in Connecticut, said Gov. Jodi Rell.
The company, which uses the digital shorthand "iM@," produces free mobile phone applications that guide travelers to specific destinations nearby, such as restaurants, hotels, stores and entertainment. Advertisers, in turn, can pay to reach these travelers with special offers. "Mobile is where information delivery is headed," said Kerry Cannon, iM@'s CEO.
Connecticut Innovations' investment will come from the group's seed investment fund, which collects money from individual investors and channels it to worthy projects. The award to iM@ represents the eighth investment to an early-stage tech company in the state since the fiscal year began last July.
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