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The Street

The A.P. puts money into Verve Wireless

MG SIEGLER | JULY 28TH, 2008

The rise of cellphones with GPS chips has created a lot of excitement about device that are aware of your locality. Verve Wireless has been seeking to capitalize on bringing local news to mobile devices, and that should be a little bit easier with a new round of funding.

The $3 million second round was led by the Associated Press, a Verve partner that teamed up with the company recently to create its beautiful AP iPhone web app. Also participating in the round was Iron Capital.

The Encinitas, Calif-based startup raised a $2.5 million angel round last July.