TAGSYS Receives $16 Million in Second Tranche of $35 Million Funding Round.CAMBRIDGE, Mass. -- TAGSYS, the global leader in item-level 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. infrastructure, today announced it has closed $16 million in the second and final tranche of its $35 million Series C round of funding. This brings total company financing to $80 million. TAGSYS' latest funding comes on the heels of unprecedented product releases and customer wins and will allow the company to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the accelerated demand for item-level RFID systems in existing and breakthrough vertical markets. In addition to the latest oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. round of funding, TAGSYS' strong performance also won recognition from Venture Development Corporation (VDC VDC Volts Direct Current VDC Venture Development Corporation VDC Vehicle Dynamic Control VDC Village Development Committee (Nepal) VDC Virtual Data Center VdC Verband der Cigarettenindustrie ) as a 'Best Bet for RFID Investors' in 2007. "We see market demand in alignment with our vision of RFID as part of the network fabric with a universal infrastructure--all built on standards and with quality-of-service guarantees," said Elie Simon, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TAGSYS. "This new infusion of capital will enable TAGSYS to continue broadening our product portfolio and respective patent position to accelerate our leadership position in the industry." Participating in the financing were all current investors. Participants included J.P. Morgan, DFJ DFJ Dysfunkshun Junkshun (Austin, Texas band) Esprit (formerly Cazenove), Endeavour, Elliott Associates, L.P., Saffron Hill
Saffron Hill is the name of a street in the south eastern corner of the London Borough of Camden, between Farringdon Road and Hatton Garden. Ventures, and Add Partners. About TAGSYS TAGSYS is the global leader in item-level RFID infrastructure. TAGSYS provides RFID systems and tags for end-to-end item-level tracking that automates labor-intensive processes, authenticates and safeguards goods, and enables real-time inventory and asset visibility. With a proven track record of delivering Reliable, Accurate and Secure (R.A.S.) RFID systems and tags, TAGSYS has deployed over 100 million tags and 60,000 reader systems to over 500 customers in more than 40 countries. TAGSYS' RFID solutions are currently being deployed in a range of highly specialized vertical markets that include pharmaceutical, fashion apparel, libraries, and textile rental. The company is headquartered in Cambridge, Massachusetts with offices and R&D Centers in France, in Pennsylvania and in Hong Kong. More information on TAGSYS can be found at www.TAGSYSrfid.com. |
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