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3 May 2016

Donuts and GeoFrenzy announce investment agreement

Domain name registry Donuts has invested in geofences management company GeoFrenzy.

According to Donuts, it is the first of “several” investments aimed at identifying and investing in emerging technologies that promote new uses for domain names and leverage the domain name system.

Further details of the agreement have not been released.

A geofence is a “virtual perimeter around a real-world geographic area” and is used by apps or connected devices to delineate borders, ensure privacy or security and to establish rules of use.

Location-aware devices include drones, driverless cars and smart home appliances.

Paul Stahura, Donuts co-founder, said: “GeoFrenzy is the first investment to emerge from our Donuts Labs project, which was set up to foster innovation in and around our space.”

Sean Eilers, GeoFrenzy co-founder and chief executive, added: “It’s particularly exciting to have an investment from Donuts in this round of funding; their expertise in managing a highly scalable registry and their experience with innovative DNS technologies makes Donuts an ideal fit as an investor and strategic partner.”

This story was first published on  TBO.

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