Picture this scenario: you enter a mall to pick up the new iPad Mini, a warm winter coat and some groceries and you pull out a mobile app that guides you to exactly where you want to go and maybe even offers some coupons, too.  A startup called ByteLight is working to create this scenario using LED lights and smart phones to create a communication network that tracks and guides shoppers, locates items and offers deals.

The Cambridge, Mass.-based startup was founded in May 2011, and is just now coming out of stealth about how its technology could help create a whole new world of social networking services and money-making ideas. ByteLight has raised $1.25 million from investors such as VantagePoint Capital Partners, and is already doing some field trials of its technology, with undisclosed companies.

You’re probably wondering what LED lights has to do with this? Basic GPS…

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