|
|
|
| RFID Reader Provider SkyeTek Closes $10 Million Series C Round
|
| Contact Information: |
SkyeTek
Martin Payne
martin.payne@skyetek.com
(303) 615-8019 |
Lois Paul & Partners
Kristin Cronin
skyetek@lpp.com
(781) 782-5771
|
RFID Reader Provider SkyeTek Closes $10 Million Series C Round
SkyeTek Driving Adoption of RFID as a Networking Technology
Westminster, Colorado — July 25, 2007 –
News Facts:
- SkyeTek, a leading provider of embedded RFID reader technology, today announced that it has secured a $10 million Series C round of venture capital funding.
- Maryland-based Grotech Capital Group led the round with participation from TD Fund, based in Washington D.C., and existing investors Appian Ventures, Sequel Venture Partners, and Palomar Ventures.
- The funding will enable SkyeTek to expand its sales coverage, product development, and patent portfolio in making RFID a seamless IP networking technology.
- SkyeTek delivers robust security, policy management, and an intuitive API on an inexpensive reader platform that extends the edge of existing networks to goods and assets. This approach to RFID creates a single technology platform that enables high-ROI applications in asset tracking, item-level inventory management, product authentication, access control, and patron management.
- SkyeTek has over 60 production customers in several vertical markets including consumer products, healthcare, hospitality, industrial equipment, and IT.
- SkyeTek offers its technology to OEM customers as a complete embedded RFID solution, which includes software, hardware, and professional services, or on software license basis.
- ReaderWare licensing provides the additional benefit of access to ReaderDNA reference designs, allowing OEMs to integrate the technology directly into their product design and realize 40 to 70 percent cost savings versus a typical reader module.
- SkyeTek has developed a global partner network to distribute and support its product portfolio. Partners include Mouser Electronics, Sobal, Hangzhou Ziytek, and Meshed Systems – for a full list of Skyetek channel partners, please visit: http://www.skyetek.com/Company/Partners/ChannelPartners/tabid/346/Default.aspx.
Quotes from Rob Balgley, SkyeTek CEO:
- "SkyeTek has experienced three consecutive record-breaking quarters driven by robust demand for its intelligent firmware / software and inexpensive reader hardware."
- "With our market thesis proven, we will expedite expansion plans now that this round of financing is complete. These funds will enable us to extend sales coverage and accelerate product development further augmenting our high-ROI solutions and increasing our lead in target markets."
Quotes from Joe Zell, Grotech General Partner and new SkyeTek Board Member
- "By investing in SkyeTek, we see an opportunity to continue moving RFID beyond supply chain to applications where it serves as the wireless technology that extends existing IT networks to physical items."
- "SkyeTek is the thought and market leader in making RFID a networking technology as evidenced by its impressive number of production wins where customers are using its technology to improve demand visibility and augment product authentication measures."
Please contact Kristin Cronin to arrange for further quotes regarding this announcement or to request an interview with a SkyeTek executive.
Multimedia:
 Traditional Release
 Distributable PDF of this release
ReaderWare datasheet
 Joe Zell bio
Relevant Links:
 Skyetek's Del.icio.us page |  Digg This | Post to Del.icio.us
Feeds:
 Press Releases | Social Media Releases | In The News | Multimedia
Technorati:
 SkyeTek | RFID | RFID Reader
About SkyeTek, Inc: SkyeTek, Inc. develops reader hardware and software that enables the pervasive adoption of RFID as intelligent networking technology. Numerous Fortune 500 and mid-market customers use SkyeTek’s products in applications such as item-level inventory, product authentication, access control, and patron management. In addition to selling SkyeModule readers, SkyeTek licenses ReaderWare software which allows customers to save 40 – 70% compared to the price of common reader modules available in the market today. Based in Westminster, Colo., SkyeTek sells exclusively through OEMs, systems integrators, and distributors. For more information, visit www.skyetek.com or call 720-565-0441.
Tagnostic®, ReaderWare™, SkyeModule™, ReaderDNA™, AURA™, the SkyeTek logo, and SkyeTek® are trademarks or registered trademarks of SkyeTek, Inc. All other trademarks or brand names are the properties of their respective holders. Features and specifications are subject to change without notice.
|
|
|
|
|