RFID Talk Blog

West coast retailer will debut active RFID-enabled credit cards; Invengo raises $123M U.S.

Just returned from the MIT Enterprise Forum’s meeting on the Dash 7 Alliance. Very interesting stuff coming out of this group! Jayant Ramchandani, COO of Novitaz, delivered the most intriguing address about the progress his firm is making in rolling out proprietary RFID hardware including the first-ever, credit-card-sized active RFID tag readable at ranges of greater than 20 feet when placed in a wallet.

A West Coast retailer will begin piloting the technology at several stores in California in early 2011. The software will yield a customized suite of unique customer-centric, loyalty-based solutions. In a nutshell, once a consumer enters a retail outlet, the RFID-enabled credit card will trigger communication with the store. The store will message the shopper about specific sales and promotions. More information on this in the coming days!

By the way, Invengo announced late today that it has secured a nice chuck of funding (817.7 million yuan, or just over $123M U.S.) to accelerate five specific projects including “chip design and commercialization of Internet-Of-Things, RFID handhelds, a management system for RFID-based railway vehicle parts, research and development into an automated library system and tracking devices for trains.” Very interesting apps – we’ll try to bring you more details on them over the next few days.

The funding is through a private placement of not more than 34 million shares at 24.72 yuan per share. The newly offered shares cannot be traded for 12 months.

Last spring, Invengo has signed a contract with USA ID, a division of consumer product giant Conair, to provide at least 20 million RFID labels per year. The contract represents the biggest deal yet for Invengo outside of China, and will help Conair and Invengo launch new services for apparel and garment tracking. Read RFID 24-7′s coverage here.

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