TAGSYS raises $35M in bid for global RFID dominance
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Manufacturing News, Source : The Manufacturer US
Published : 23 May 2006 17:05
TAGSYS, which made news this month with an item-level RFID (Radio Frequency Identification) infrastructure, announced that it has completed a $35M round of financing and relocated its global headquarters to Cambridge, Massachusetts.
The transaction was brokered by JPMorgan Partners, and investors include Cazenove Private Equity, Elliott Associates, L.P. and its affiliates, and Endeavour. Tagsys’ aim for the capital is to advance the company’s global growth, expand R&D, and accelerate its ability to market an end-to-end item-level RFID infrastructure.
This financing round marks what Endeavor Chairman Bernard Vogel describes as allowing TAGSYS “to capitalize on the strong commercial momentum that the company is experiencing by expanding global production capacity, strengthening development efforts and augmenting its sales and services to meet the increasing demands of its customers.”
TAGSYS is claiming six-sigma level read rates of 99.9997% from its item-level RFID, and counts on a first-out-of-the-gate momentum to enable the company to dominate the global market. One of its recent innovations in item-level tagging is The-Package-is-the-Tag™, a UHF Gen II solution which uses patented parasitic antenna technology.
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