Impinj Closes $21M Equity Financing
Impinj, Inc., a Seattle, WA-based UHF radio frequency identification (RFID) technology provider, has closed a $21m equity financing.
The round was led by existing investors AllianceBernstein L.P., ARCH Venture Partners, GF Private Equity Group, Intel Corporation, Madrona Venture Group, Mobius Venture Capital and Polaris Venture Partners.
The company, which expects to raise additional funding from other existing investors, bringing the total amount to $24m, by mid-August, intends to use the funding to expand sales, marketing, product development and manufacturing operations.
Led by William T. Colleran, Ph.D., president and CEO, Impinj provides UHF RFID solutions for identifying, locating and authenticating items. It delivers a wide range of products and solutions, comprising high-performance tag chips, readers, reader chips, software, antennas and RFID subsystem integration.