Provided by Crain's Cleveland Business
Written by Chuck Soder
Mine communications company InSet Systems LLC has been awarded $400,000 from Northeast Ohio venture development organization JumpStart Inc.
The company, currently located south of Canton in Strasburg, soon will relocate to the Akron Global Business Accelerator, which houses several startup technology companies, according to information from Cleveland-based JumpStart.
InSet Systems will use the money to speed up development of a tracking system meant to pinpoint the location of miners and mining equipment. The money also will allow the company to begin installing systems in mines.
The company eventually plans to pursue other uses for the technology, which tracks inertia using accelerometers, gyroscopes, miniature sensors and computers that measure changes in geographic position, velocity and orientation.
JumpStart to date has made 38 investments in 27 companies.