Columbia-based TEDCO announced one of its Maryland Venture Fund (MVF) portfolio companies, TRX Systems, was acquired by ACR Group. Headquartered in Greenbelt, TRX Systems is the developer of NEON GPS-denied location solutions and the TRX Dismounted Assured Position, Navigation, and Timing (PNT) System (TRX DAPS).
The company specializes in cutting-edge technologies and solutions that provide resilient and trusted position and time in environments where GPS is challenged, degraded or denied.
“TEDCO was one of the earliest investors in TRX and their involvement went well beyond funding – they also connected us into Maryland’s technology ecosystem,” said Carol Teolis, CTO and co-founder of TRX Systems. “TEDCO’s early funding and guidance helped our startup get off the ground and accelerated our path to success. I encourage other Maryland-based STEM companies to explore potential opportunities with TEDCO just as we did.”
TRX recently announced it was selected by the U.S. Army to deliver a Dismounted Assured Positioning, Navigation and Timing (PNT) System (DAPS). The TRX DAPS solution uses a lightweight, soldier-worn device to enable dismounted warfighters to successfully conduct operations when operating in GPS challenged, degraded or denied environments.