November 9, 2024
First iFund iPhone Apps Announced

First iFund iPhone Apps Announced

Posted May 27, 2008 at 12:54pm by iClarified
Pelago and iControl will be the first two apps funded by the $100 million iFund announced in March.

Pelago is the first company funded by Kleiner Perkins Caufield & Byers as part of the $100 million iFund the venture capital firm announced in March at Apple's last big iPhone event. Pelago's software, called Whrrl, ties the mapping capabilities of the iPhone and other smartphones with the ability to find information about places where you, your friends, or anyone has been. Say you're lost in Las Vegas and need a restaurant recommendation. With iPhone in hand, you can scan the locations of nearby restaurants, just Italian restaurants, or just those recommended by foodie friends. Or you could search for the highest-rated bars or kid-friendly activities recommended by friends from your social network. There's going to be a "what's going on around me right now" button, says Kleiner Perkins partner Matt Murphy. "You're always one button away from that immediate context."

Murphy thinks that, among the many iPhone application possibilities, location-based services may be "the biggest breakout opportunity." The venture firm has received submissions from 1,700 startups that hope to raise money via the iFund. So far, it has only funded Pelago and iControl, which makes a home automation application that would give iPhone users remote control over air conditioners, lighting, window shades, and so on. He says the venture firm has extended an offer to one more startup, and is seriously considering another 10.

Kleiner Perkins has extended one more offer to another company and has 10 others they are seriously considering.

Read More



First iFund iPhone Apps Announced
Add Comment
Would you like to be notified when someone replies or adds a new comment?
Yes (All Threads)
Yes (This Thread Only)
No
iClarified Icon
Notifications
Would you like to be notified when we post a new Apple news article or tutorial?
Yes
No
Comments (1)
You must login or register to add a comment...
Jash Sayani
Jash Sayani - May 30, 2008 at 12:15pm
How do you get the iFund ? I know how to apply. But how to get selected.? What sort of softwares are they looking to fund.?
Recent. Read the latest Apple News.
RECENT
Tutorials. Help is here.
TUTORIALS
Where to Download macOS Sonoma
Where to Download macOS Ventura
AppleTV Firmware Download Locations
Where To Download iPad Firmware Files From
Where To Download iPhone Firmware Files From
Deals. Save on Apple devices and accessories.
DEALS