RFID
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Money continues to flow into RFID; ThingMagic is latest to benefit

It’s a good sign for RFID technology that money continues to flow into the sector even during such poor economic times. ThingMagic today announced a strategic investment and technology development agreement with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the broader U.S. intelligence community.

 

The deal follows Alien’s $38 million round of funding announced in early October, and the $3 million in funding secured by Advanced ID this week.

 

“ThingMagic is a critical addition to our portfolio of wireless technologies,” said Ben Levitan, Partner at In-Q-Tel. “We review thousands of innovative business plans but invest in only those few that address the most difficult technology challenges faced by both commercial enterprises and the national security community. ThingMagic’s innovative RFID technology and research on wireless sensors offers great promise for both the private and public sectors.”

 

In a release, ThingMagic CEO Tom Grant said the deal will enable the company to expand and customize its RFID reader platform and product form factors, and eventually enable the use of RFID and sensors in more innovative public and private sector asset tracking, supply chain, inventory control and loss prevention applications.

 

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