Austria’s Identic Solutions gets the cha-ching for new RFID things
29 June, 2006
category: RFID
RFID-based track-and-trace provider Identec Soutions, of Lustenau, Austria, secured nearly $15 million (USD) in financing from investors, the company announced earlier this week.
Identic Solutions plans to use the dough as a basis for long-term expansion and market leadership in industrial active RFID systems. This means increasing activities in system development and standardization (thus, strengthening its global market presence), and delving into new market sectors. The European vendor recently carried out a project together with Boeing and FedEx, which involved equipping an MD-10 freight aircraft with active RFID tags for the purpose of providing better asset visibility for the Logistics Provider.
RFID Provider IDENTEC SOLUTIONS Secures Financing Package
Tuesday June 27, 10:30 am ET
15 Million USD to Support System Development and International Market Position
LUSTENAU, Austria and KELOWNA, Canada, June 27 /PRNewswire/ – IDENTEC SOLUTIONS, global supplier of industrial, RFID-based tracking and tracing solutions, has secured a financing package in the amount of $15 Million USD. RFID Invest AG from Lichtenstein will act as lead investor.
The new financing package will serve as a basis for long-term expansion of IDENTEC SOLUTIONS’ market leadership in industrial active RFID systems. Besides increasing its activities in system development and standardization and strengthening its global market presence, IDENTEC SOLUTIONS will continue to forge into new market sectors. For example, IDENTEC SOLUTIONS recently carried out a project together with Boeing and FedEx, which involved equipping an MD-10 freight aircraft with active RFID tags for the purpose of providing better asset visibility for the Logistics Provider.
IDENTEC SOLUTIONS
Headquartered in Lustenau, Austria, with offices in the United States and Canada, IDENTEC SOLUTIONS specializes in Intelligent Asset Management solutions, which help simplify manufacturing and logistics processes and bring more transparency to the supply chain. Over the past seven years, IDENTEC SOLUTIONS has provided asset management solutions and support for a variety of organizations including Volkswagen, Deutsche Post and General Electric. More info: http://www.identecsolutions.com
RFID Invest AG
Located in Liechtenstein, RFID Invest AG is the first Venture Capital Firm in Europe specializing solely in RFID companies who demonstrate excellent growth potential, business productivity and established products and services. Well-known Entrepreneur Martin Zumtobel is one of RFID Invest AG’s major shareholders. For more information please visit http://www.rfidinvest.eu.
