KitLocate Ltd. has won the technology award of Israel Advanced Technology Industries (IATI) and MasterCard Israel Ltd. The company, which develops location-based technology for businesses to offer products to customers, will receive a $25,000 prize and will join Genesis Partners' accelerator The Junction.
KitLocate, founded in October 2011, develops technologies that enable other applications and services to receive information about the location of the end-user so that businesses can offer them relevant products and benefits. The company was founded by CEO Omri Moran, CTO Yoav Cafri, and VP Product Ron Miller. It says that its solution saves battery consumption and makes it possible to know the location all the time.
KidsCash, which is developing a system for parents to budget their children's online purchases, won second place. SellInApp, which can generate revenue for developers from the merchandising of games images or application content, won third place.
The judges included BRM Capital partner Eran Barkat, IATI CEO Karin Mayer Rubinstein, Vertex Venture Capital managing partner Yifat Oron, MoMinis Ltd. CEO Itzik Frid, and Genesis general partner Eden Shochat.
Published by Globes [online], Israel business news - www.globes-online.com - on January 2, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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