GyPSii Raises $11 Million To Take On Foursquare and Gowalla

GyPSii has raised $11 million in funding in an effort to raise a total of $40 million. GyPSii is based in Holland and they have announced a Twitter application called Tweetsii. The funding was provided by Schroders. GeoSentric is the company that oversees GyPSii. They previously raised about $13.1 million from Horizon Group and Schroders in 2007. The funding is “to support marketing and additional development of GyPSii applications.” GyPSii is basically a mobile location-based application where users can check in and out.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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