Avaak, a provider of wireless video network technology, has closed its first round of funding of $7 million. Trinity Ventures led the round with participation from InterWest Partners as well as Leapfrog Ventures. The San Diego, CA-based company will use the funds to support product development, marketing and sales of its new product, scheduled for an early 2009 release. Its technology aims to apply imaging apps where video and snapshots can be viewed, captured and shared without the use of wiring cameras or downloading software. Avaak was first developed in 2004 with seed funding from the Defense Advanced Research Projects Agency (DARPA) and Office of Naval Research (ONR) for use in security applications and was recently awarded an additional $3 million contract by the ONR. Release.
By Amanda Natividad