Back in March when Apple showed off the iPhone SDK the company also announced the $100 million iFund supplied by venture capital firm Kleiner Perkins Caufield & Byers.

BusinessWeek is reporting that the first two companies out of over 1,700 have been chosen to receive some of the $100 million capital.

Pelago is said to be a developer of on-the-go lifestyle application, the company reportedly was the first to receive funding for iPhone version of its Whrrl application. Whrrl takes advantage of the iPhones mapping abilities and tries to make it easy to find information about business, restaurants, etc, in the local area.

iControl allows users to control multiple appliances in the home
Say you’re lost in Las Vegas and need a restaurant recommendation. With iPhone in hand, you can scan the locations of nearby restaurants, just Italian restaurants, or just those recommended by foodie friends. Or you could search for the highest-rated bars or kid-friendly activities recommended by friends from your social network. There’s going to be a “what’s going on around me right now” button, says Kleiner Perkins partner Matt Murphy. “You’re always one button away from that immediate context.”

Joining Pelago as the only other company to receive funding was iControl, makers of home automation software. The application is said to give users control over air con units, lighting and window shades to name just a few.

BusinessWeek also adds that it expects Apple to release the 3G iPhone at the forth coming Worldwide Developers Conference which kicks off on June 9th. The opening keynote may also demonstrate one of the aforementioned applications.