Apple co-founder Steve Wozniak has launched Wheels of Zeus, a company aimed at developing wireless portable electronics.
The company said the products would "help everyday people track everyday things".
Wheels of Zeus initials spell out "Woz," the nickname for Mr Wozniak, who is credited with creating Apple's first product line of Apple I and II computers, the forebears of the Macintosh. Wozniak left Apple in 1985 to teach and pursue personal projects.
"Recent advances in global positioning software (GPS) systems and antenna technology coupled with the declining cost of processing power and two-way networking make the possibilities for new devices and services really exciting," Mr Wozniak said.
The company is backed by six million dollars from Mobius Venture Capital, Draper Fisher Jurvetson and Palo Alto Investors, three influential Silicon Valley venture capitalists.
Wheels of Zeus enters a crowded field. The company will be competing against the likes of Microsoft, AOL, Motorola, Nokia and others, who are scrambling to come up with the next generation lightweight, battery efficient wireless devices that wed mobile phones with pagers, internet browsers and other devices, including GPS mapping.