Identec Group, the RFID technology firm, just wrapped up a $7.5 million round to fund growth. The company did not publicize its advisors, the terms of the transaction or the investors that participated in the round.
IDENTEC GROUP, the leading global RFID solutions provider, announced today that it has completed a $7.5 million equity capital round with private investors. IDENTEC GROUP capitalizes and grows companies in global business-to-business and business-to-consumer RFID markets and serves more than 2000 customers in 16 industries on all continents, making it the largest RFID solutions provider in the world.
The company said the new financing will be used to fuel further expansion in the multi-billion dollar US RFID solutions market and to fund organic growth of Group member companies. IDENTEC GROUP holds 100% or significant ownership in nine advanced RFID solutions businesses and has substantial sales and marketing operations in the US, including four US-based RFID companies.
“We are gratified by the confidence placed in us by our new investors,” said Dietmar Amann, IDENTEC GROUP CEO. “They recognize, as we do, the tremendous potential of RFID technology and solutions across many industry segments. This new financing will not only help escalate our US expansion plans but also the advance of our customer facing solutions in key markets globally.”
In April, IDENTEC GROUP announced a new operating strategy intended to promote technology, marketing, operational and financial cross-fertilization among its RFID companies, as well as to fuel the growth of member companies in vertical markets. Reflecting this strategy, it also changed its name to IDENTEC GROUP from RFID Invest. In early May, it announced it had increased its ownership in Hothead technologies, a Group member company based in the US, from 5% to 100%
“We are already beginning to see the results of our growth strategy, and the new capital will help us further consolidate our positions in key business segments,” said Martin Zumtobel, Chairman of IDENTEC GROUP. “In addition to supporting organic and market growth of member companies, we will continue to seek new relationships with entrepreneurial, customer-facing RFID solutions companies looking for new ways to grow.”
Among the innovative RFID solutions developed by IDENTEC GROUP companies are: the prevention of heat-related illness in athletes, rescue personnel and industrial workers; shrinkage control, inventory, and beverage management in the hospitality industry; tracking containers, trucks, and heavy equipment in the world’s busiest ports; assisting government and military operations with the secure and safe transport of high value cargo; managing material assets in the building of power plants and large industrial projects, and real-time tracking of fresh foods from field to fork.
About IDENTEC GROUP
IDENTEC GROUP, with global headquarters in Vaduz, Liechtenstein and US offices in Dallas, Texas, is a leading, advanced RFID solutions provider that capitalizes and grows companies in global business-to-business and business-to-consumer RFID markets. Recognized worldwide for their patented, award-winning RFID solutions in more than 16 different industries, IDENTEC GROUP member companies develop and market innovative RFID solutions that identify, measure, track, and trace assets and people across the value chain, delivering actionable information through the cloud. IDENTEC GROUP works with its member companies on issues ranging from capitalization and the development of business models and strategies to operations and shared technology, sourcing efficiencies, and mutual customer relationships