Intelleflex Corp., a San Jose, Calif.-based RFID company, has raised $15.5 million in Series C funding. Arcapita Ventures and Motorola Ventures co-led the round, and were joined by return backers Morgenthaler Ventures, Woodside Fund, Alloy Ventures, and Selby Venture Partners.
Arcapita Ventures, a $200 million growth and expansion stage venture capital fund, today announced it has closed an investment in Intelleflex Corporation, the leader in Extended Capability RFID. The investment was co-led by Motorola Ventures, the strategic venture capital arm of Motorola, and included pro-rata participation from existing investors Morgenthaler Ventures, Woodside Fund, Alloy Ventures, and Selby Venture Partners.
“Intelleflex solutions represent a dramatic leap forward in RFID technology,” said Tom Hawkins, Director of Arcapita Ventures, who will join the Intelleflex Board of Directors. “Customers demand high performance and reliability but also need solutions that will work within existing technology infrastructures. Intelleflex is able to offer something truly unique and valuable to customers, especially in closed-loop applications. We are optimistic about the future of Extended Capability RFID and look forward to working with the world-class team at Intelleflex.”
Richard Bravman, Intelleflex Chairman, President, and CEO said, “We're delighted that Arcapita Ventures chose to invest in our company; they're a great addition to our team. Their global reach and experience in various vertical industries will be a tremendous value as we expand internationally and focus on key RFID market segments.”
The Intelleflex Extended Capability RFID solutions are designed to uniquely address targeted business problems such as high-value asset tracking, yard management, cold chain management, and parts maintenance. The products substantially extend the limited range of ordinary passive RFID, provide extremely reliable reads in challenging real-world environments, and offer extended on-tag memory all at a fraction of the cost of active RFID solutions.
About Arcapita Ventures
Arcapita Ventures, the venture capital arm of Arcapita Bank B.S.C.(c), partners with outstanding entrepreneurs to build market-leading companies. Arcapita Ventures focuses on growth-stage enterprises across the
Intelleflex is the leader in Extended Capability RFID solutions, products, and technologies. Its Intelligent RFID Platform, comprising high performance multi-protocol tags and readers, enables solutions for asset tracking, vehicle / yard management, manufacturing WIP control, supply chain automation, parts maintenance, access control, and other applications. It features range, reliability, memory capacity, and security far beyond standard passive RFID, and at a fraction of the cost of active RFID solutions. For more information, please visit www.intelleflex.com .