Tuesday, March 09, 2010

TrakLok wins $500K TNInvestco investment

[Updated 11 March] Knoxville-based TrakLok Corporation announced today it has won a $500K investment from Innova Memphis (Innova Fund II), and will use the unspecified investment to improve manufacturing, add to sales staff and generally increase awareness and sales for its GeoLok tracking and security system, making the most of increased concern about ports' security. “We have been watching TrakLok since the Tennessee Innovation Conference organized by TTDC in late 2008...," said Jan Bouten, Partner at Innova Memphis in a release. The amount of the investment was not included in the release, but TrakLok spokesman Shane Rhyne with Ackerman PR provided the $500K figure. Innova's Bouten subsequently told VNC the amount was played-down to keep as much attention as possible on TrakLok. The CA has it and the KNS has a story too.

No comments: