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Gadget startup Lynq raises $6 million in funding

28 January 2020
Lynq has started commercially shipping the tracker devices and has raised money to expand its opportunities. Source: Lynq

Lynq Technologies Inc., a startup that has created gadgets that can track people off-the-grid, has raised $6 million in a seed round in order to expand growth opportunities for its devices.

At CES 2020, Lynq said it had begun shipping its location tracker compass that can locate anyone without relying on smartphones, networks or infrastructure of any kind. The device, billed for campers, hikers and even doomsday preppers, can keep tabs on people across roughly 12 miles, displaying distance and direction even when no signal is found.

“In the year ahead, we’ll be focused on increasing the size of our team and further developing scalable opportunities around our core technology,” said Dave Shor, founder and CEO of Lynq Technologies.

Two years ago, the company raised $1.7 million on Indiegogo and delivered the devices to backers opening the ability to offer the devices commercially.

The new funding will be used to grow opportunities to scale its technology beyond just hiking and off-the-grid consumers. Recently, the company participated in a military exercise between the U.S. and Thai governments that helped to reduce the time spent locating wounded and unconscious soldiers by 61%.

The backers in this round of funding included Venture Capital, Sony Innovation Fund, Chetrit Ventures and Plus Eight Equity Partners.

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