Xerafy Ltd, a global provider of rugged passive RFID tags, has secured $5 million in Series A funding from Shanghai-based IPV Capital to accelerate growth and business expansion. The two-year-old company will use the cash infusion to penetrate new markets, expand its offering of on-metal tags, and ramp up its new manufacturing plant in Nantong, China.
Founded in 2010, Xerafy has quickly established itself as a highly innovative and global RFID entity, serving customers in Fortune 500 companies in aerospace, oil and gas, manufacturing, healthcare, military, and defense.
Xerafy has been credited with many firsts in RFID innovation, including developing the world’s smallest on-metal RFID tag for small tools and surgical instrument tracking, the first ATEX-certified metal embeddable tags for extreme RFID applications, and the first Metal Skin flexible inlay to provide customers a cost effective option for tracking metallic assets globally.
“We are honored that IPV Capital supports our vision to bring a global wave of adoption for RFID in industries beyond retail,” says Xerafy CEO Dennis Khoo.
Terence Tan, managing director of IPV Capital, says that Xerafy’s unique RFID tag approach to the read-on metal market provides an unparalleled edge compared to what’s currently available in the market. “Their embedded tag solution fulfills the original vision of RFID and the advent of the “Internet of Things,” he says. “Likewise, Xerafy’s breakthrough Metal Skin label form factor is what the market needs for rapid mass adoption.”
IPV’s investments focus on technology sectors including software and services, semiconductor, material science, medical devices and clean technology.
Xerafy’s industry awards includes the “2011 Frost & Sullivan Global Product Innovation Award” for its embeddable RFID solutions, the “2011 Red Herring Global Top 100 Technology award” which recognizes Xerafy as one of the top private technological startup companies, as well as China’s “RFID World Top 10 Most Innovative New RFID Products for 2011.”