09/04/2007
RFID battery assisted provider PowerID raised $12 million
PowerID, an innovative provider of Battery-Assisted Passive (BAP) RFID technology, has completed a $12 million fundraising round led by Partech International with the participation of existing shareholders, including Amadeus Capital Partners, Apax Partners, Clal Industries and Investments, and Infinity Venture Capital.
PowerID was spun out of parent company, Power Paper, in January 2007. PowerID products are based on the revolutionary concept of upgrading the performance of passive RFID technology by integrating a thin and flexible battery into passive RFID label technology. The company provides RFID battery assisted passive (BAP) technology for RF-challenging applications that involve freight, chemicals, metals, and paper.
“Over the last year, we have shown that BAP addresses a large market need. In the future, we will continue to address this need while expanding into new opportunities with an EPC-compliant, BAP product line and sensor labels,” said Erez Kahani, CEO of PowerID.
Headquartered in Petah Tikva, Israel, PowerID has successfully deployed its solutions in a number of vertical industry segments. These applications include, among others, tracking high value pallets with RF-challenging materials from distribution center to customers; industrial paper reels from manufacturer to print house; and metal aircraft parts during the manufacturing process.
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