Tuesday, September 11, 2007

Tagsys Receives $16 Million More in Third Round of VC - Cambridge, MA

Tagsys, a Cambridge-based developer of RFID infrastructure technology, on Tuesday announced that it has closed $16 million in the second and final tranche of its $35 million third round of venture capital. This brings the total amount of financing raised by the company to date to $80 million. Investors in the latest deal include J.P. Morgan, DFJ Esprit, Endeavour, Elliott Associates, Saffron Hill Ventures, and Add Partners. Tagsys provides RFID systems and tags that automate labor-intensive processes. The company said that it has deployed over 100 million tags and 60,000 reader systems to over 500 customers in more than 40 countries. Tagsys has R&D centers in France, Pennsylvania and Hong Kong.



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