Skyhook Wireless Closes $6.5 Million In Venture And Corporate Funding Round

"Skyhook Wireless, provider of the industry's first Wi-Fi based metro-area positioning system, today announced it has secured $6.5 million in a first round of venture capital and new corporate financing. Series B participants included new investors Bain Capital Ventures, which led the round, and Intel Capital. Existing investors Innovent, an entrepreneurial innovation unit in Nokia, and CommonAngels also participated in this round which brings total funds raised to $8.3 million. Ajay Agarwal, venture partner with Bain Capital Ventures, will join Skyhook's Board of Directors. "