Wherify Wireless (whose founder, Timothy Neher, started the company after nearly losing his brothers’ kids at a zoo) began taking orders for its $400 GPS watches for children a few weeks ago and is promising shipment in early September. Customers also pay a monthly service fee of $25 to $50.

The watches give the kids a “panic button” that calls Wherify, which alerts parents and the 911 emergency system; parents can lock the watch on kids’ wrists so it can’t be removed. It can also be programmed to notify parents when a child leaves a designated area. It’s made from cut-resistant material and can be programmed to notify parents when the device is removed or tampered with. More here.