Alien Technology Receives $38 Million in Funding.Business Editors MORGAN HILL, Calif.--(BUSINESS WIRE)--Aug. 5, 2003 Alien Technology Corporation announced today the closing of its Series F round of financing. The round, which was led by Advanced Equities Inc, totaled $38 million. Joining Advanced Equities Inc. as co-investors were Lago Ventures Fund, Forsythe Technology, H&S Ventures and three new strategic investors, including Manhattan Associates Inc., a market leader in supply chain execution solutions. Sixteen existing investors also participated in this round, including Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , Rho Ventures, New Enterprise Associates, CMEA CMEA Council for Mutual Economic Assistance CMEA Cellular Message Encryption Algorithm CMEA Canadian Music Educators' Association CMEA Council for Mutual Economic Aid CMEA Certified Machinery Equipment Appraiser CMEA Colorado Music Education Association Ventures, First Analysis, Equitek, Digital Bandwidth and Dow Chemical. "This round provides ample funding for our aggressive expansion plans. Alien has the resources and production capacity that our customers need to accelerate adoption of EPC (1) (Entertainment PC) See HTPC. (2) (Electronic Product Code) A standard code for RFID tags administered by EPCglobal Inc. (www.epcglobalinc.org). Class I tags and readers for the next three years," said Stav Prodromou, chief executive officer. The production capacity expansion, planned for Fargo, North Dakota “Fargo” redirects here. For other uses, see Fargo (disambiguation). Fargo is a city in Cass County, North Dakota in the United States. It is the county seat of Cass County, located in the Red River Valley region. , was announced on July 10 of this year. "Coupled with the state and local financial and other support associated with the Fargo site, Alien will have over $70 million available to fund our business plan," Prodromou added. Chairman of Alien Technology, Tom Baruch commented, "We are pleased with the excellent quality and strong support of our new and current investors. The participation of significant strategic partners reflects the leadership position that Alien Technology enjoys in the rapidly expanding RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. market." About Alien Technology Alien Technology is a leading provider of reliable, high-volume Radio Frequency Identification See RFID. (RFID) products. Using Fluidic Self Assembly (FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) ), a patented manufacturing process, Alien manufactures electronic product code (EPC) tags and readers used in a variety of applications including logistics operations, anti-counterfeiting, and supply chain management to improve inventory management and reduce operating costs. Alien Technology is an active member of the Auto ID Center that develops standards for RFID. More information about Alien Technology can be found on the Company's website at www.alientechnology.com. |
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