Sources inform "Globes" that semantic search technology start-up SemantiNet has completed an initial financing round of $1.7 million from Giza Venture Capital.
SemantiNet was founded in 2006 by CEO Tal Keinan, former head of Scenario Analysis at Morgan Stanley's Risk Management Department, and CTO Talk Muskal, formerly of Go Networks.
According to the company's website it intends to offer a solution to the current state of overcrowding on the Internet and the ever-increasing supply of information which makes it difficult to make efficient use of everything that is available.
The company proposes to use semantic web concepts to present an integrated source or overview of the services and information widely available, in a newly efficient manner, or as they say "in a way that is simple, smart and intuitive"
The company lists Yossi Vardi as one of its investors. Vardi is one of Israel's high-tech veterans and the founding investor and former chairman of Mirabilis, creator of the ICQ program which was one of the most popular Internet products of all times, with 400 million downloads. Vardi also serves as strategic advisor to AOL, which bought Mirabilis, and to Amazon.
Published by Globes [online], Israel business news - www.globes-online.com - on January 22, 2008
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