Tap Lab secures funding for location-based mobile games

Newsbrief: Cambridge, Massachusetts-based start-up The Tap Lab has raised $550,000 to create location-based mobile games for iOS devices, and to expand its current team of six. Founded in 2010, the developer is planning to launch its next title this summer with TapCity 2, which features gameplay similar to Booyah's MyTown series -- players can purchase and upgrade virtual versions of stores and other locations that they visit in real life. The investors that participated in this seed financing include Harmonix (Guitar Hero, Rock Band) co-founders Alex Rigopoulos and Eran Egozy, Google's Don Dodge, Common Angels' Mike Dornbook, and other angel financiers, according to a report from VentureBeat.