Tagsys, a global leader in item-level RFID infrastructure, announced it has received further funding that brings total company financing to $80 million. Tagsys said the additional $16 million will enable it to meet the high demand for item-level RFID systems in existing and breakthrough vertical markets while broadening its product portfolio.
The firm said the added funding comes on the heels of unprecedented product releases and increases in new customers. "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 & CEO.
Participating in the financing are all current investors, including J.P. Morgan, DFJ Esprit (formerly Cazenove), Endeavour, Elliott Associates, L.P., Saffron Hill Ventures, and Add Partners.
In addition, Tagsys said its strong performance also won it recognition from Venture Development Corporation (VDC) as a “Best Bet for RFID Investors” in 2007.