Internet Lab makes first investment
- LGiLab will invest in bp Interactive Technologies, developer
of online entertainment applications
LGiLab, the Internet lab, a joint initiative by Gemini Israel
Funds and US fund Lightspeed Venture Partners, today announced
its first investment in bp Interactive Technologies (bp InTech),
developer of online entertainment applications. The amount of
the investment was undisclosed, however "Globes" has
learned that LGiLab intends to invest in each company between
several hundred thousand dollars and a maximum $1million.
bp InTech, was founded several months ago by Tal Ben-Simon
and Tomer Pascal, (who together with an additional employee,
comprise its workforce). The company aims to provide advanced
online entertainment applications that will be powerful yet
simple to use.
The company's first project is intended to revolutionize the
way fantasy sports game fans around the world experience their
game.
LGiLab's general manager Ouriel Ohayon, said today that the
investment was meant to carry bp InTech through the launch of
its product in 2007. In the framework of the financing round,
Gemini partner Tali Aben, will join bp InTech's management.
