ATLANTA—Wireless hardware and software provider Discrete Wireless announced it has completed $1.3 million equity capital round of private investments, bringing the total investments the company has raised to more than $2 million.
“Despite the slowing economy and the recession, 2001 was a great launch year for us,” said Chuck Papageorgiou, Discrete’s chief executive officer. In June of 2001 the company rolled out its first product, Marcus, which allows companies to manage critical information from service fleets and delivery vehicles via the Internet.
The company’s most recent funding was completed with cooperation of the Bank of North Georgia and a group of undisclosed private investors from Atlanta and the West Coast. Discrete said capital from the funding will go to support company growth, to develop new product features and to sales and marketing support. In addition, the company said it is currently in discussions with local and national venture capital firms and investment bands for a subsequent Series-A round of venture-capital funding.
