US-Israeli RFID start-up Hi-G-Tek Ltd. has raised $3.25 million from its current investors, US funds Battelle Venture LP and Jonathan Leitersdorf's L Capital Partners.
Hi-G-Tek CTO Micha Auerbach and operations manager Jacob (Kobe) Kamin founded the company in 1989. Its CEO is Donald DeLaski. The company's RFID technology enables the monitoring of cargos in real time.
According to IVC Online, Hi-G-Tek has raised $29 million. The previous financing round was two years ago. Headquartered in Rockville, Maryland, the company has an office in Or Yehuda, as well as representatives in Japan and the Netherlands.
Auerbach told "Globes", "The financing round is a sign that our investors are confident in company's future. Hi-G-Tek expects to grow in 2010, especially in Africa for the protection of fuel shipments, as well as from a project with the US government."
Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2009
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