Investment Update : West Fountain Parallel Fund invested in Seed of action communicator company Loose Cannon Systems
In August 2019, West Fountain Global Fund LP ("West Fountain"), an offshore parallel fund of West Fountain Parallel Fund, completed a seed round investment in Loose Cannon Systems, Inc. ("Loose Cannon"), a US-based wearable group wireless communication device research and development company, and other investors included Foxconn.
Based in California, Loose Cannon's main products are Milo, a wearable group wireless communication device, and a supporting software and service platform. The company has mastered real-time multi-way voice technology and is committed to solving the pain points of traditional group wireless communication solutions. Milo is a leading-edge technology and can be used in many outdoor sports scenarios such as skiing, cycling and rock climbing, as well as many commercial application scenarios such as hospitality, manufacturing and retail.
The company's unique technology transmits the voice signal as a data packet in the best path through the equipment network, which is highly reliable and passable, even in complex terrain without cellular network or WIFI. The product allows for two-way, real-time communication between multiple parties in a group, without the need for "push-to-talk" during the process.
West Fountain Parallel Fund’s investment in Loose Cannon is a new attempt of the fund in the early consumer electronics field. We believe that Milo's leading technology, numerous commercial applications and huge market demand indicate potential of great achievement in the future.