U-Nav Raises $5M

Irvine-based U-Nav said Friday that it has raised $5M from Nordic Venture Partners, iSherpa Capital, Shelter Capital, and UNI-LLC. Strategic investor Trimble Navigation also participated in the Series D financing. u-Nav is developing GPS chipsets and software aimed at the mobile location based services market. The company also said that u-Nav and Trimble expect to begin sampling solutions based on its technology in the fourth quarter of this year. More information »