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Wozniak rolls out 'Wheels of Zeus'

Apple co-founder Steve Wozniak unveils plans for a new company that will design wireless products to "help everyday people track everyday things."

Steve Wozniak, the technical visionary and co-founder of Apple Computer, unveiled plans Wednesday for "Wheels of Zeus," a new company that will design wireless products.

Wozniak, who recently took a seat on the board of directors of Danger, a wireless service provider, has received the National Medal of Technology and was inducted into the Inventors Hall of Fame in 2000.

His new venture, Wheels of Zeus, or "wOz," is a play on Wozniak's nickname.

The company, which has received $6 million in funding from venture capital firms Draper Fisher Jurvetson, Palo Alto Investors and Mobius Venture Capital, plans to make wireless devices that will "help everyday people track everyday things," according to a statement.

Wozniak said the new devices would be made possible by "recent advances in global positioning software (GPS) systems and antenna technology coupled with the declining cost of processing power and two-way networking."

Beyond general descriptions offered in the company's release, wOz's plans are vague. Wozniak will create "another offering as ubiquitous and useful as the personal computer," said Tim Draper, the founder and managing director at Draper, who will serve as chairman of the company's newly formed advisory board.

Greg Galanos, managing director at Mobius, will also serve on the company's board.

Wozniak launched Apple with high-school friend Steve Jobs in 1976.