Smart radio frequency ID (RFID) processors have become sought-after applications for multiple uses. The problem is their cost, which can be quite high and cost more than the retail product it is marketing.
Jerusalem Venture Partners (JVP) has participated in the $20 million fifth financing round of Silicon Valley-based smart RFID developer Kovio Inc.
Kovio was founded in 2001 by president and CEO Amir Mashkoori and a group of MIT scientists. It has raised $80 million to date, including the present round, from top-tier venture capital funds. Besides JVP, participants in the current round included Bessemer Venture Partners, Duff Ackerman & Goodrich Ventures, Flagship Ventures, Harris & Harris Group, Kleiner Perkins Caufield & Byers, Mitsui Ventures, Northgate Capital, Panasonic Venture Group, Pangaea Ventures, Pinnacle Ventures, and Yasuda Enterprise Development.
Kovio has developed a printed silicon platformthat can also be applied to a range of applications besides barcodes, including sensors and displays, expanding the company's potential market opportunity. The company will use proceeds from the financing round to launch shipments of its RF Barcodes, a new category of low-cost and eco-friendly printed barcode.
Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2009
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