Blue raises $1.1M


Blue, a family-owned startup has closed a $1.368 million seed round. Tim Draper invested $1 million in the company  through Draper Associates, Blue said in a statement. Draper University Ventures invested $100,000.

Blue positions itself as a virtual name tag of sorts. Its mobile app and smart card uses Bluetooth low energy and Near Field Communication (NFC) to help people introduce themselves, says the company.

Through online advertising, affiliate marketing, enterprise clients and brand partnerships Blue says it is generating $80,000 per month in revenues.

[Image courtesy: Blue]