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Peripherals - Sunday, April 12, 2009

VC Firms Bet on Digital Pen Technology

Today, Adapx announced that it brought in $9M in second round funding led by UV Partners. OVP Venture Partners, and Paladin Capital Group joined this round as well.

Founded 10 years ago the Seattle, Washington based firm has been developing natural interface software products for mobile field workers --that is industries where practitioners gather data out in the "field." Capturx, the company's flagship product enables users the freedom to collect data through standard digital pens and upload the information directly into market leading applications such as Microsoft Office, GIS, and CAD. This offering challenges the cumbersome process of scanning and transcribing handwritten notes, along with challenging the need for mobile computers or high-cost PDA devices.

In a rapidly changing world of surface computing, Capturx is another step toward technology that emphasizes human computer interaction in more natural ways. Adapx delivers this new interface paradigm in rather conventional form: a digital pen bringing back the physical and, in some ways, tactile act or writing. However, it is worth further investigation to determine whether its is quicker to write or type information when out in the field, in addition to what extend are processing times improved after data is collected. While Adapx's customer growth may be proof in point, it will be interesting to see how PDA and Tablet PC companies will respond to what could be a potentially market shifting technology.

Led by In-Q-Tel and strategic alliances with Microsoft, Autodesk, ESRI, Lockheed Martin, and digital pen maker Anto, Adapx secured $10M first round funding less than a year ago. And has since been servicing over 500 enterprises and government agencies across utilities, construction, engineering, emergency response and intelligence sectors. Ken Scheider, CEO and company chairman of Adapx, sees a great opportunity for Capturx technology solutions to address future field data management needs in both the Healthcare and Facilities sectors. Adapx will use this recent round of funding to expand its market presence and turnaround profits by 2010.

The costs are an enterprise price at $1495 or an MS One Note Price at $349 which comes with the software, a digital pen, a replacement ink cartridge, a notebook, and a docking station.

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Follow Adapx on Twitter at www.twitter.com/Capturx.
Post by Hanif O'Neil