motionID technologies AG, a Munich, Germany-based developer of an innovative ePayment system that enables vehicles to be automatically equipped with a payment function, has recieved an investment of undisclosed amount from 3M New Ventures.The investment is aimed at bringing together 3M’s and motionID’s diverse and complementary technology portfolios.
The company intends to use the funds to roll-out its VIATAG a small radio-frequency tag, which is attached to the windshield, to provide the vehicle with a contactless identification and payment function.
Led by CEO Christian Utz, motionID – a Barkawi Group company – combines knwoledge in the area of Track & Trace, sound knowledge of the RFID system, and innovative ePayment solutions to create a system that enables a variety of different applications with regard to intelligent mobility.
FinSMEs
19/03/2011