The Austin-based software company M87 received a $500K investment from The University of Texas System Horizon Fund. M87 develops software that allows mobile devices to strengthen their wireless signals by utilizing other devices with stronger receptions.
The $500K is part of a $1 million round of financing that M87 started in January of this year. The funding will be used to hire additional engineers and file for patents. The company plans to launch its software later this year. UT Austin also owns 5 percent of the startup.
Read more about M87 here.