Vic Singh co-founded NearVerse raises $1 Million
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Bangalore: Philadelphia-based mobile networking startup NearVerse has secured $1 million in seed funding from Meakem Becker Venture Capital in Q4 2009. According to the company, the funding would be used to further develop its software-based networking platform to accelerate mobile Internet beyond the capabilities of existing 3G or 4G carrier networks. "We believe that there is a great opportunity to build on the prior pioneering efforts of companies such as Google, Amazon, Skype, and Akamai in optimizing the wireline Internet, to solve the biggest issues facing the mobile Internet today," states NearVerse's CEO Boris Bogatin. "By unifying carrier and short-range wireless networks into a holistic, optimized system, NearVerse is well positioned lead this new wave of mobile Internet evolution." Founded in 2009 by Bogatin and Vic Singh, NearVerse's proprietary networking platform optimizes the mobile Internet experience through a proximity-powered system, improving media delivery speeds by 5-10X. NearVerse's network architecture also leads to greater spectral efficiency and helps substantially reduce the load on existing carrier networks. NearVerse launched their first app, LoKast for iPhone and iPod touch, at SXSW. LoKast offers users the ability to discover and share rich media content with other, proximate users, all powered by NearVerse's networking platform. Using LoKast, users add music, photos, videos, contacts and web links to their personal "LoKasts", and then automatically discover other users within 300 feet and share media with them in real-time. LoKast minimizes reliance on 3G connectivity by using NearVerse's optimized networking platform. The app is also available for download. Joining the company's board are Glen Meakem and Alan Veeck of Meakem Becker Venture Capital. "The Nearverse management team and technology platform has the potential to enable truly innovative content and application offers that otherwise would fail the consumer tests of speed and useability. We believe their offer is going to be extremely attractive to a large variety of mobile industry players ranging from app developers and the music industry to carriers and OEMs," says Glen Meakem of Meakem Becker. The start-up is also looking to grow its team as they are aggressively hiring talented engineers to develop its technology and service offering. Interested individuals can apply for positions on the NearVerse site.

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