Russian geolocation service AlterGeo has reportedly raised $10m from Intel Capital and Almaz Capital – a 25% share increase – and values the company at around $20-25m.
Serial investor Esther Dyson, who has a track record in Russia, having previously invested in Russian search engine Yandex (a partner of AlterGeo‘s), is also said to have participated.
The company plans to use the new financing to… → Read More
[Russia] Yandex, Russia’s leading search engine, has signed a contract with AlterGeo – a hybrid positioning startup – to use its technology to add location-based features to the company’s maps and toolbar web applications.
AlterGeo technology aggregates GSM Cell-ID, Wi-Fi and WiMax to retrieve a user’s location. The traditional mobile triangulation with poor accuracy of a few hundred meters is… → Read More
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