The founders of
Joongel which presented at the TC50 DemoPit are announcing a $100K investment from Israeli uber-Angel
Dr. Yossi Vardi. Vardi pledged the investment on the spot at TC50 and the parties have since worked on finalizing the terms and paperwork.Interestingly, the investment will go into a new company called "Modular Patterns, Ltd." (no site yet) and is intended for the development of a new product as opposed to furthering the Joongel service/product the company showcased at TC50. The founders are keeping tight-lipped about the nature of the new product and were only willing to share that it "relates to web service collaboration".
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28th October 2008, 02:20 AM
TC50 DemoPit Company Joongel Nets Investment for Stealth Product 
