ByteLight Gets $1.25M for Lighting-based Indoor Navigation and other LBS News

ByteLight just came out of stealthmode and announced the investment. How does the tech work?

ByteLight’s patented solution turns LED light sources into positioning beacons. “ByteLight-enabled” lights transmit proprietary signals which can be picked up by camera-equipped mobile devices. Once signals are detected, the device then calculates its position without the need for an active network connection. ByteLight’s market-leading indoor positioning solution is accurate to less than one meter and takes less than a second to compute. To enhance the functionality of its solution, the Company also offers tools that make it simple to provide location-based digital content, analyze traffic patterns and measure engagement.

- press release

TeleNav(R), Inc. (TNAV), the leader in personalized navigation, announced today that it has acquired Local Merchant Services, Inc., d.b.a. ThinkNear, a privately held hyper-local mobile advertising company located in Los Angeles, California, for consideration of $22.5 million, consisting of approximately $18.5 million in cash, plus restricted stock and assumed options. The acquisition, which closed on October 10, 2012, added ThinkNear's team of twelve employees, including its two co-founders, to Telenav's mobile local advertising group.

- press release

Foursquare’s homepage is now  a whole lot more useful– even if you don’t use Foursquare.

The location-based social network is opening up its Explore recommendation engine so that visitors don’t need a Foursquare account to take advantage of it.

- VentureBeat

If you want to buy some LBS patents, some are for sale:

ICAP Patent Brokerage announces for auction a search engine software technology providing improved results and rankings with relevance annotations by geographic area from other users. This lot from Geodex LLC will be included in the 17th ICAP Ocean Tomo IP Auction on November 29, 2012, at The Ritz Carlton in San Francisco, California.   

- press release

Published Tuesday, October 16th, 2012

Written by Adena Schutzberg

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