Spinoff News
Avaak raises $7 million, started as DARPA, ONR contractor
Another startup has raised venture capital for products that have been developed with government R&D funds. And you heard it here first: the defense industry is a rich and under-appreciated source of spinouts. Avaak raised $7 million in Series A funding from Trinity Ventures, InterWest Partners and LeapFrog Ventures. The money allows it to bring to market its wireless video mesh networking product. Up until now, the technology had been funded by DARPA and ONR. Recently, Avaak had been awarded a $3 million contract from ONR. They are producing a small wireless video camera called Vue that you can drop anywhere and see its video on a remote screen. Use it for on-the-fly video conferences, family video chats, surveilling the baby's nanny, etc. Vue was developed originally for clandestine surveillance by the military. This spinout underscores our message that government contractors are a rich source of untapped commercial potential. When we bring spinout ideas from government contractors to venture capitalists, they are very interested. They know that much of the R&D expense has already been incurred by someone else and that there is lower risk than in a typical startup venture. Give us your spinout technologies. We make deals like this happen for a living.
posted by Scott Lush @ 10/17/2008 06:49:00 AM
Raytheon's Exoskeleton
How would you like to throw a football hundreds of yards? Squat down and lift as much weight as a factory lift? Bench press your car? These could be possible under DARPA's XOS program to develop an exoskeleton that magnifies the body's muscular ability. Through a series of external extensions, pivots, pistons and a lot of electrical power, a soldier wearing an exoskeleton could lift heavier objects, hurl heavier things, and overcome greater resistance, with less training. A lead article in Popular Science called this "Building the Real Iron Man." The Army has also funded a robotic sherpa, BigDog, meant to accompany soldiers and carry up to 125 pounds at up to 45 degrees of incline on uneven terrain. (Read more here) The commercial market could also adapt versions of the exoskeleton technology for elderly patients with decreased strength, for handicapped that need a power assist, and for construction or factory workers who need to lift and move heavier objects. The commercial potential is endless. Now if only I could sneak into spring training for the Patriots with one of these... See Raytheon's website about the exoskeleton here, or read more here...
posted by Scott Lush @ 10/17/2008 06:49:00 AM
Name: Scott Lush
Location: Boston, Ma. United States
