Money continues to flow into the RFID sector, with Omni-ID the latest recipient. The Foster City, Calif.-based firm announced its third round of funding today, securing $15 million from UK-based Cody Gate Ventures G.P. The funding marks Cody’s third investment in Omni-ID, and is triple the approximately $5 million it doled out in its first two rounds of funding.
Omni-ID, which provides passive ultra high frequency (UHF) RFID technology solutions, expects to use the funding to ramp up marketing efforts, penetrate new markets, increase manufacturing capacity and to move into Asian markets. The company expects to unveil a new global customer in the Asian marketplace sometime next month. To date, Omni-ID has successfully built a reputation as a UHF IT asset tagging manufacturer.
“Given the state of the economy and current period of slowed investment in RFID, the Omni-ID Series C funding announcement and its sizeable amount are very significant milestones for the company and the RFID market,” Michael Liard, RFID practice director at ABI Research, said in a release.
For more information, check out this week’s issue of RFID 24-7.