This year’s winner of the Luis Villalobos Award, TRX Systems, exemplifies the highest order of innovation with an indoor location technology that solves enormously challenging real world problems to make people’s lives safer and more productive.
San Francisco, CA (PRWEB) April 19, 2013
The Angel Capital Association (ACA), the trade association of leading angel investment groups in North America, announced at the 2013 ACA Summit that TRX Systems, Inc. of Greenbelt, MD is the winner of the 2013 Luis Villalobos Award.
This award recognizes the most ingenious and innovative idea recently financed by angel groups that are members of the Angel Capital Association (ACA). The award is named in honor of Mr. Villalobos, the founder of Tech Coast Angels, and a true “leading light” in the angel field.
“Innovation is the touchstone of angel group investing,” said Marianne Hudson, executive director of ACA. “This year’s winner of the Luis Villalobos Award, TRX Systems, exemplifies the highest order of innovation with an indoor location technology that solves enormously challenging real world problems to make people’s lives safer and more productive.”
TRX Systems develops algorithms and products that locate, map, track, and reliably deliver, 3D location indoors, underground, and in dense urban areas where GPS is not reliable or available. Uniquely, the technology delivers location without pre-installed infrastructure.
“We are honored to receive this award,” said Carol Politi, president and CEO of TRX Systems. “The Luis Villalobos Award is wonderful recognition of the creativity, energy, and dedication of our employees and of the confidence our customers, strategic business partners, and investors have placed in TRX Systems.”
To understand what TRX Systems does, imagine an incident commander outside of a building where a suspected shooting has occurred. That commander needs a system that can tell precisely where his officers are to ensure effective management of the incident. That’s one of the problems that TRX Systems solves.
“We deliver indoor location in three dimensions in situations where you can’t install or rely on pre-installed tags or other infrastructure and where you require reliable location,” Ms. Politi said. “The core of our technology can be used anywhere from defense and security applications, to first responders, to consumer applications that need access to location within indoor environments.”
Existing indoor location solutions depend on pre-installed or “mapped” infrastructure (ultra-wideband, Wi-Fi, or Bluetooth). These location approaches don’t work with the solution provider does not control the building, such as in defense and first responder applications, or when applications require location in buildings that are not accurately mapped or have only sparsely mapped infrastructure.
TRX Systems’ NEON Indoor Location System fuses information from gyroscope, accelerometer, magnetic and pressure sensors along with GPS, Wi-Fi, and other RF ranging information (where available) to dynamically map buildings, delivering reliable location.
“The crux of what we do is delivering that X, Y, Z (3-dimensional) data to applications that need accurate location awareness, even when people are indoors and underground. The solution improves as people move about the building, creating more complete feature maps” Ms. Politi said.
New Dominion Angels, of Warrenton, VA, led the initial round of outside investment in TRX Systems and participated in a follow-on round. Other investors include Motorola Solutions Ventures, Maryland Department of Business and Economic Development, and private individuals.
“TRX Systems is our group’s biggest investment and reinvestment. It suits us to a T,” said Frank Ball, managing partner at New Dominion Angels. “The technology is elegant. The competitive landscape is favorable. The CEO and CTO are inspirational women, both exceptionally talented in business and in technology. The company meets a real business need that will make a difference in people’s lives. We like to make the world a better place with our investments. TRX Systems is all of that and more.”
On the early stage ramp to scalable growth, TRX Systems is delivering product to customers, integrating with both radio and cellular communications systems, and working with strategic partners to imbed NEON technology in products that will be launched downstream.
“New Dominion has been fantastic. They have provided us a very strong financial perspective, both from the angel and corporate investor standpoints. It’s been wonderful having them represented on our Board,” Ms. Politi said.
“This is a real company, with real revenue,” Mr. Ball said. “The firm has done a very good job of funding product development through a number of research grants, which is like non-dilutive capital. The investments we’ve made will help accelerate the company’s go-to-market strategy. We are delighted that the company has channel partners such as Motorola and others to help open doors.”
TRX Systems, which was first hosted by the University of Maryland incubator and now operates from its own facilities, has developed turnkey location solutions for mission critical applications delivered through a hardened, lightweight battery-operated device that is about the size of a deck of cards. The firm is also teaming with private and public sector entities to deliver location using third party sensor and mobile device platforms for a wide range of military, public safety, and commercial applications.
“TRX Systems has positioned itself as an innovation leader through a combination of technological enhancements, technical innovation, and the leveraging of existing technologies,” said Mr. Ball. “The company provides solutions that not only advance the field of navigation and location technologies but also significantly increase the safety of humans working in extremely dangerous fields.”
The Angel Capital Association (ACA) is the leading professional and trade association supporting the success of angel investors in high-growth, early-stage ventures. ACA provides professional development, industry voice, public policy advocacy and an array of benefits and resources to its membership of more than 200 angel groups and more than 8,500 individual accredited investors. http://www.angelcapitalassociation.org; Twitter: @ACAAngelCapital.
TRX Systems delivers precise, infrastructure-free location indoors and environments without access to reliable GPS. The TRX Systems’ unique sensor fusion and mapping technology greatly improves situational awareness and command effectiveness by providing precise, real time 3D location in areas that are GPS-denied. More information is available at http://www.TRXSystems.com.
New Dominion Angels invests in early-stage companies in Virginia and the region, positively impacting communities through well-vetted investments in extraordinary entrepreneurs and their promising ventures. More information is available at http://www.newdominionangels.com.
Angel Capital Association