ThingMagic Closes $9.5 Million in Additional Funding
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[July 18, 2008]

ThingMagic Closes $9.5 Million in Additional Funding

(Wireless News Via Acquire Media NewsEdge)
ThingMagic, a developer of radio frequency identification (RFID)
technology, has secured an additional $9.5 million in funding from
existing investors including Tudor Ventures, The Exxel Group,
Morningside Technology Ventures and .406 Ventures.

ThingMagic noted it specializes in the development of RFID readers,
sensors, and embedded RFID technologies including fixed and embedded
RFID readers and antennas, embedded and OEM RFID technology, as well as
professional services that facilitate the integration of RFID into a
range of industrial and consumer products. ThingMagic's customers
include retailers, consumer companies, automotive firms, manufacturers,
and industrial automation firms.

"The last two years have brought significant change to the RFID
marketplace. RFID has expanded into commercial and consumer markets and
our UHF RFID reader modules, software and design services are enabling
our customers and partners to embed RFID into their products and
applications," said Tom Grant, Chairman and CEO of ThingMagic, Inc.
"For a growing range of consumer and commercial products, such as Ford
Tool Link and Lexmark's T640rn laser printer, ThingMagic's embedded


RFID readers have become the engine in RFID."

"ThingMagic has witnessed substantial demand across a wide range of
industries and applications for its embedded RFID module product line,"
said Larry Begley, Co-Founder and Managing Director with .406 Ventures.
"This, coupled with their leadership position in RFID supply chain
applications, underscores the company's market opportunity and makes
ThingMagic a compelling investment."



((Comments on this story may be sent to newsdesk@closeupmedia.com))

((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))

Copyright ? 2008 Wireless News

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