PervasID, a Cambridge, UK-based company which specializes in RFID (radio frequency identification) technology, raised £3.25M in funding.
The round was led by Parkwalk Advisors, with participation from Finance Durham Fund and NPIF II Maven Equity Finance.
The company intends to use the funds to expand its customer base following increasing demand from large customers in retail and aerospace and enhance its software product offering in data analytics to complement its hardware solutions.
Led by CEO Peter Oram, PervasID is a technology company that designs and supplies passive RFID fixed reader systems for automating inventory tracking, stock taking and asset management processes. Their patented products enable organisations across a wide range of markets to streamline processes by providing visibility into goods, assets and people. It is now working with global retailers and businesses within the aerospace, health and manufacturing sectors to deliver real time inventory location tracking across multi-country infrastructures.
FinSMEs