TakWak Satellite Device Developer Receives Venture Capital Financing
[Satellite TODAY 08-24-10] German start-up communications company TakWak GmbH has received 2.5 million Euros ($3.1 million) in financing from the European Space Agency’s Open Sky Technologies Fund to develop a three-in-one communication device integrating mobile phone, satellite navigation and walkie-talkie functions, ESA announced Aug. 23.
The device will be marketed to outdoor enthusiasts for use in hiking, skiing and kayaking.
Triangle Venture Capital Group manages the Open Sky Technologies Fund on behalf of ESA. This venture capital fund aims to support business opportunities arising from space technologies and satellite applications for terrestrial industries.
“[TakWak’s] unique multifunctional, dedicated outdoor sports device is based on cutting-edge technologies to provide a radical new user experience. With its rugged design and unique features, TakWak responds perfectly to outdoor enthusiasts preferring dedicated devices to converged solutions such as a smart phone with integrated navigation features,” Triangle Venture Capital Group spokesman Bernd Geiger said in a statement.