Tyco Retail Solutions has led a new financing in Kovio Inc., the printed silicon electronics company based in California. Current investors Kleiner Perkins, Caufield & Byers, DAG Ventures, Northgate Capital, Harris & Harris, Flagship Ventures and Pangaea Ventures also participated in the funding round.
MILPITAS, Calif., June 9, 2011 — Kovio, Inc., a privately held pioneer in printed silicon electronics, today announced that it has raised $15 million in a new equity financing led by Tyco Retail Solutions, a unit of Tyco International and a global leader in retail solutions and services. As the market opportunity for mobile interactive platforms evolve, the funding will enable Kovio and Tyco Retail Solutions to deliver solutions that take advantage of the emerging infrastructure of Near Field Communication (NFC)-enabled devices and printed silicon capabilities. Current investors Kleiner Perkins, Caufield & Byers, DAG Ventures, Northgate Capital, Harris & Harris, Flagship Ventures and Pangaea Ventures also participated in the round.
“We are delighted to be partnering with Tyco to bring to market the world’s first commercially available products that leverage Kovio’s printed silicon capabilities,” said Kovio CEO Amir Mashkoori. “By integrating our products with the offerings from Tyco Retail Solutions we are enabling new opportunities for retailers and brand owners.”
Kovio combines proprietary high-performance silicon inks with graphics printing technologies to print Kovio RF Barcodes on flexible substrates at a fraction of the cost of conventional silicon technology. Combined with NFC enabled mobile phones and devices, Kovio’s RF Barcodes usher in a new era of mobile marketing and advertising by allowing brand owners and retailers to engage directly with individual consumers. With a simple wave of their mobile phone consumers will be able to gain deeper product insight, take advantage of targeted promotions and offers, and be assured of a product’s safety and authenticity.
“Kovio has developed a groundbreaking technology and we are pleased to partner with them to accelerate its introduction to the market,” commented Scott Clements, President of Tyco Retail Solutions.
“We are very excited about the Kovio opportunity and the strategic partnership with Tyco Retail Solutions,” added Ajit Nazre, partner, Kleiner Perkins, Caufield and Byers. “The emergence of NFC-enabled devices coupled with Kovio’s unique printed silicon capability makes for a dynamic market opportunity within interactive mobile platforms.”
About Kovio, Inc.
Kovio, Inc., a privately held Silicon Valley company, is developing a new category of semiconductor products using printed silicon electronics and thin-film technology. Kovio’s approach delivers a unique and compelling value proposition in multiple industries, including retail, healthcare, consumer electronics, transportation, manufacturing and energy. For more information on Kovio, please visit http://www.kovio.com.