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Loc-Aid garners funds, plans U.S. launch

BOCA RATON, Fla.-Loc-Aid Technologies snared $5 million in its first round of institutional financing, the location-based services application developer said.

Loc-Aid said it plans to use the cash to expand sales and marketing initiatives and to introduce a new location-based gateway and client.

The 4-year-old company’s portfolio includes location-based social, gaming and enterprise applications, which are available in Europe. Loc-Aid plans to launch its offerings to U.S. users next year.

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