(By Balachander) Motorola Solutions Inc. (NYSE: MSI) announced an investment in TRX Systems Inc., a maker of personnel tracking systems, to fund the expansion indoor location technology.
Greenbelt, Maryland-based TRX has raised $2 million in Series A funding round that include Motorola Solutions Venture Capital, New Dominion Angels and the Maryland Department of Economic Development.
TRX Systems is the developer of NEON, a personnel tracking system that delivers location-based data on people who are indoors and in urban areas where GPS is unavailable or unreliable such as inside buildings and in tunnels or metros.
"TRX sensor fusion and mapping technology uniquely delivers 3D indoor location in environments where it is not possible to rely on pre-existing and networked infrastructure," said Carol Politi, president and CEO of TRX Systems. "The market for indoor location is growing rapidly, and this funding, complemented by our sales revenues, will allow us to increase investments in indoor location development and accelerate entry in new markets."
According to the companies, NEON uses TRX sensor fusion and mapping to correlate information from a broad array of sensors, including magnetic, ranging, inertial, light, pressure, RF and GPS, and combines it with known and discovered map information.
MSI shares traded 0.43 percent higher at $53.34 on Monday.