Omni-ID, a supplier of high-performance, passive UHF RFID tags, has raised nearly $8 million in new funding, and added George Daddis as its president and chief executive, the company announced. The new infusion of capital will be used for expansion efforts. Omni-ID is backed by Trillium Group is a Rochester, N.Y.-based private equity firm.
Omni-ID, the leading supplier of high-performance, passive UHF RFID tags, today announced that it has secured almost $8M in additional funding and has recently appointed technology industry veteran George E. Daddis Jr., PhD as its President and Chief Executive Officer. The investment capital will be primarily used for expansion of the company’s growing portfolio of industry specific solutions including new product and sales channel development.
“I am truly excited to be joining Omni-ID during this period of growth and accelerated momentum,” said George E. Daddis, CEO. “The company’s proven leadership in the passive UHF RFID tag industry along with its approach to product innovation and clear vision to provide unique asset management solutions has led to sustained investor confidence and a considerable new investment in our business. This investment signals not only confidence in growing demand for our products but in the forward potential that our technology provides as we evolve to the next phase of RFID product solutions.”
These announcements follow a strong year of growth for the company including the launch of several groundbreaking new products such as the Forte family of fully encased metal tags and the Omni Prox tag, the only universal tag on the market capable of consistent performance across global UHF bands both on and off metal. Known for their high quality, reliability and range, the demand for Omni-ID UHF RFID tags has grown exponentially over the past several years.
“Omni-ID develops products that provide the process and cost efficiencies needed by many industries in their day-to-day management of inventory, assets and supply chain,” said Jim Stoffel, General Partner of Trillium International. “We are confident that the company is building on this momentum and continuing to innovate for the future by leading the way with the development of new products and sales channels to address the expanded commercial applicability for RFID technology.”
Omni-ID is the leading supplier of passive, low profile UHF RFID solutions. Omni-ID’s patent-pending technology enables a broad range of new applications to improve asset tracking, supply chain management and work-in-process. Omni-ID’s family of versatile RFID tags works reliably in the harshest environments, including on, off, and near metal and liquids, and excels in solving tracking and identification challenges with unprecedented accuracy. For more information, visit www.Omni-ID.com.
Founded in 1997, Trillium Group is a Rochester, N.Y.-based private equity firm managing early stage venture capital and growth equity funds. Trillium partners have extensive venture/private equity investment and management experience, having been chief executive officers, presidents and board members of a wide variety of startup companies, joint ventures, and Fortune 100 multinationals. Trillium is dedicated to achieving venture capital at acceptable levels of risk.