July 16, 2009
Prominent Angel Investors and VC Firm, Wellington Partners Invest $1.5 Million in Series A Funding for Aloqa as Company Launches Application Beta Test
Based in Palo Alto, California; mobile application alerts company, Aloqa announced that it had just closed $1.5 million in series A funding from some prominent angel investors and Wellington Partners. Along with this round of funding, the company also announced the launching of a beta test of its latest application at the Mobile Beat conference. Other noteworthy events that come along side with this round of funding is that Aloqa also announced the hiring of Sanjeev Agrawel as the companyâ€™s CEO. Mr. Agrawel was originally from TellMe Networks, which was acquired by Microsoft, where he worked as the companyâ€™s Vice President of Products.
Aloqa is a pioneer in the mobile industry, because it is the first to provide users with context relevant alerts over the mobile communications network. The service that Aloqa provides for mobile users eliminates two basic problems which are both time consuming and tedious. The first problem that is eliminated by employing Aloqaâ€™s service is the need to make searches for a particular item. Searches on mobile devices are similar to making a search on a search engine on a regular computer, most smart phones have to have a specific browser or application to type in a search for something, but Aloqaâ€™s unique platform brings the search to the user by bringing in content relevant information that would bring all the information that the user would be interested in directly to his phone. Furthermore, Aloqaâ€™s service also brings local opportunities to the user. Aloqa does this by taking into account all of the users interests by reading the content of the data on the userâ€™s phone. Aloqa looks at the music that a user might have on his phone or mobile device, where the user resides, what job the user has, etc. For example, Aloqa can look at a userâ€™s taste in music and then send a message about concerts in that userâ€™s local where his type of music would be played.
The new CEO, Sanjeev Agrawel will bring a wealth of industrial experience to Aloqa. Along with having been the Vice President of Products at TellMe Network, which was later acquired by Microsoft; he was also worked at Google as the global head of product marketing.
According to Mr. Agrawel, the service that Aloqa provides makes cellphones all that much more useful. From a userâ€™s perspective, launching browsers to make a search can be agonizingly slow and typing or speaking into apps can be very tedious. Furthermore, doing searches on the phone is not the only issue that mobile users face. There are many opportunities out there and people do not even know about them. There has been a time where we perhaps missed that job opportunity, or there was a great concert nearby, that we could have attended. Well, Aloqa also solves that problem by bringing all the opportunities in a userâ€™s locale directly to the user. Aloqa can find job opportunities that fit the personality of the user and also can bring concerts to a userâ€™s attention. Aloqa does this by going through all the userâ€™s mobile data and finds information over a network and lets the user know about all kinds of things as they happen in real time.
According to Ram Srinivasan, managing partner at Wellington Partners; the proprietary technology that Aloqa has to offer is very attractive to the investors at Wellington Partners. The ability of Aloqaâ€™s technology to track all kinds of objects, both moving and static, without draining the userâ€™s phoneâ€™s battery has the potential to disrupt the mobile industry. Furthermore, what makes Aloqaâ€™s technology stand out is that also does not tie up the networks with extra data and does not breach usersâ€™ privacy.
For over ten years, Wellington Partners has been one of Europeâ€™s most successful vc firms. The vc firm has over â‚¬800 million ($1,128,592,496.93) under its management. Wellington Partners mainly invests in companies that are in the clean-tech, digital media, IT, and life sciences industries. Some other companies in Wellington Partnersâ€™ portfolio include Amiando, eCircle, Goom Radio, OrderWork, SMS Guru, and others.
For more information about Aloqa, click here.
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