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Greenbelt-Based TRX Systems Raises $2M, Maryland DBED participated

11/13/2012
TRX Systems, a Greenbelt-based developer of tracking systems that provide precise location data on people operating in areas without access to GPS, said it has raised $2 million in its first round of funding, led by Motorola Solutions Venture Capital. New Dominion Angels, the Maryland Department of Economic Development and company insiders also took part in the round, which will help TRW integrate its NEON indoor location system with Motorola Solutions radios. The system uses a broad array of sensors and mapping technology to pinpoint the location of people in buildings or tunnels, or in urban areas with spotty GPS signals. "The market for indoor location is growing rapidly, and this funding, complemented by our sales revenues, will allow us to increase investments in indoor location development and accelerate entry in new markets," said CEO Carol Politi.

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