Telesym Fetches Intel Funds
Date: Friday , January 31, 2003
Call Raju Gulabani, Chairman and CEO of TeleSym Inc., and though the telephonic conversation appears normal, you’d be surprised to know how Gulabani is speaking—through his PDA. Yes, you heard it right—PDA. Gulabani has developed software that successfully turns a PDA into a mobile phone. The Bellevue, Washington-based TeleSym is building on the opportunity created by three converging technologies: the shift of voice telephone traffic to IP networks, the rapid adoption of wireless LANs, and new, more powerful mobile devices. Noticing the company's track record, Intel Communications Fund recently announced its funding, joint marketing and technical collaboration with Telesym. The funding will be used to help accelerate TeleSym’s product development and expand sales and marketing activities. The investment is an early part of the $150 million that Intel Communications Fund plans to invest to help accelerate the worldwide adoption of Wi-Fi (802.11 wireless networks).
Founded in May 2000, TeleSym received a modest $5 million from Bay Partners and Northwest Venture Associates in the Series A round that closed in July 2001. TeleSym's product will initially be aimed at the warehousing and retail markets which have seen heavy Wi-Fi and PDA penetration in the inventory sectors. These would experience significant cost and efficiency savings with added voice capabilities. The corporate and campus environments, which are rapidly going wireless, are also key targets. Intermac Technologies and 3Com are offering TeleSym's software in conjunction with their wireless hardware devices.