Lynq Technologies, Inc. Closes $6 Million Round To Accelerate Growth And Technology Expansion

NEW YORK, Jan. 28, 2020 /PRNewswire/ -- Lynq Technologies, Inc., the deep-tech startup that connects people and devices across miles without infrastructure, has announced a $6 million seed round today. Based in Brooklyn, Lynq uses its decentralized, private and flexible network protocol to change how low-bandwidth data is transmitted.

The round includes the participation of ff Venture Capital, Sony Innovation Fund, Chetrit Ventures, and Plus Eight Equity Partners. "In the year ahead, we'll be focused on increasing the size of our team and further developing scalable opportunities around our core technology," says Dave Shor, founder and CEO of Lynq Technologies.

"We believe that this peer-to-peer network technology is critical to provide robust, long-range, secure communications in a world where infrastructure might be challenged or not available. It is also a key part of the IOT stack as we look to link up the world. The Lynq team is world-class, and we are proud to be backing the company at this stage," says John Frankel, Partner at ff Venture Capital. Frankel, along with Lynq Technologies' President, Karina Costa, joins the company's board of directors upon this round of financing.

The company raised $1.7 million on Indiegogo, with one of the most successful campaigns ever. Lynq has satisfied its early backers, and the Lynq people compass is now commercially available on lynqme.com.

With vast opportunities across commercial, industrial and government applications, Lynq's device and core technology have already demonstrated life-saving results. After an exercise between the U.S. and Thai governments, U.S. Pacific Command (PACOM) published a formal report stating that the use of Lynq reduced the time spent locating wounded and unconscious soldiers by 61%. A result that helped to accelerate government opportunities with the U.S. Army and Air Force buying the device for potential use in their own missions. This round will accelerate the company's growing opportunities to scale its core technology further and beyond their recently launched people compass device.

About Lynq Technologies
Lynq is changing how low-bandwidth data is communicated, allowing devices to transmit data for miles without cellular networks or infrastructure, in a manner that's uniquely difficult to intercept.

Lynq's software can be integrated into any device, each creating their own rapidly deployable, private, decentralized network capable of communicating low-bandwidth data over miles with any device that is "connected by Lynq," the foundation for an ecosystem.  An ecosystem that begins with a single device, the company's own people compass that is capable of secure, peer-to-peer location of people, groups or assets for miles without the need for phones, networks or infrastructure.

About ff Venture Capital
ff Venture Capital (ffVC) is a seed- and early-stage venture capital firm based in New York City. Founded in 2008, the partnership focuses on investing in and growing technology and technology-enabled companies across emerging industries, including FinTech, applied artificial intelligence, drones and robotics.

As early-stage and first-round investors, often as the lead investor, the firm focuses on companies with the potential to become high-value, market-moving businesses, as well as on mentoring emerging leaders to execute their business models and carefully manage capital resources.

ffVC actively participates with founders to develop products, target markets, and accelerate growth. For more information visit www.ffvc.com.

About Sony Innovation Fund
Established in July 2016 by Sony Corporation, Sony Innovation Fund engages with pioneering startups to help fuel the development of disruptive technologies and launch new businesses. In addition to investment, Sony Innovation Fund closely collaborates with the startups in which it invests, connecting them with businesses throughout Sony and its worldwide network of partners, providing guidance and advice, and collaborating with them to help achieve common success. Learn more at: www.sonyinnovationfund.com.

Lynq Technologies Press Contact:
Cara Morgan/Tandem Marketing Communications
[email protected]
713-829-1794

SOURCE Lynq Technologies, Inc.