IDENTEC Group, a global RFID solutions provider, announced today that it has completed a $7.5 million equity capital round with private investors. IDENTEC says it serves more than 2,000 customers in 16 industries.
The company currently holds 100% or significant ownership in nine RFID solutions businesses and boasts sales and marketing operations in the US, including four US-based RFID companies.
Among the RFID solutions developed by IDENTEC companies are: the prevention of heat-related illness in athletes, rescue personnel and industrial workers; shrinkage control, inventory, and beverage management in the hospitality industry, and real-time tracking of fresh foods from field to fork.
The new financing will help escalate IDENTEC’s US expansion plans in addition to the ramping up of customer-facing solutions in key markets around the world.