Impinj Raises $26.5M, Cements RFID Leadership Role
December 16, 2005 - Seattle, WA
Impinj, Inc., the fabless semiconductor company whose patented Self-Adaptive Silicon® technology enables its two business lines: semiconductor intellectual property and high performance radio frequency identification (RFID) products, today announced it has secured a $26.5 million round of funding. Participants in the funding round included new investors GF Private Equity Group LLC, who led the round, and VentureTech Alliance along with existing investors ARCH Venture Partners, Madrona Venture Group, Mobius Venture Capital, Polaris Venture Partners, Unilever Technology Ventures, UPS Strategic Enterprise Fund and the Viterbi Group.
"This new injection of capital allows Impinj to maintain our excellent progress delivering the semiconductor solutions that our customers in the explosive RFID and the nascent embedded nonvolatile markets are demanding," said Dr. William Colleran, President and CEO of Impinj. "We will continue to aggressively drive our product development and operations to maintain our leadership positions in those markets."
"We've followed the RFID marketplace closely and feel that Impinj's products offer the most compelling and differentiated solutions in the field," said David Fallace, Vice President of GF Private Equity Group. "Impinj's leadership position in the RFID market provides GF with a great investment opportunity."
"We are very impressed with Impinj's technology and business prospects," said Ron Norris, a Managing Partner of VentureTech Alliance. "We've been tracking Impinj for quite some time and see extensive applications for their technology and products in RFID, nonvolatile memory and beyond."
Impinj, Inc. (NASDAQ: PI) wirelessly connects billions of everyday items such as apparel, medical supplies, automobile parts, luggage and food to consumer and business applications such as inventory management, patient safety, asset tracking and item authentication. The Impinj platform uses RAIN RFID to deliver timely information about these items to the digital world, thereby enabling the Internet of Things.
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