M87 Gets $500,000 At Longhorn Startup Demo Day

Austin-based cellular communications developer M-87 has a $500,000 check in hand--presented at Thursday's Longhorn Startup Program demo day--part of a $1M, seed financing round. The funding came from The Horizon Fund, the startup investment fund run by the University of Texas. The funding was actually completed back in January, according to the University of Texas at Austin. The Longhorn Startup Program is headed by University of Texas at Austin Professor of Innovation Bob Metcalfe. M87 is led by David Hampton. M87 said the new funds will go to hire additional engineers and file for additional patents in key countries around the world. M-87's technology revolves around allowing cellular signals to hop off each other to access a base-station when signals are otherwise inaccessible. More information »