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Print Edition StoriesMonday, August 24, 2009
CI adds $250K to Conn. software firm Keisense
By Mass High Tech staff
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Connecticut Innovations has invested $250,000 in text-input developer Keisense Inc., of Hartford, Conn. The funding comes from CI’s Eli Whitney Fund and represents the third time Connecticut’s quasi-public authority has backed the company.
Keisense was founded in England by inventor and Harvard University graduate Santosh Sharan, and it moved to Hartford in January 2008. The company said it is developing text-input software for smartphones. Its technology, PriText, is designed to enable social networking applications on television and set-top boxes.
As part of the funding deal, CI will have representation on Keisense’s board of directors. CI officials reported that Keisense has landed an international digital entertainment products firm as its first major customer.
Created by the Connecticut Legislature in 1989, Connecticut Innovations is charged with stimulating the tech industry in the state. The group turns any profits it makes from investments back into a pool used to invest in new companies. Since 1995, it has funded more than 100 companies and generated more than $510 million in gross profits to the state, according to officials.
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