With New $9.5 Million Funding Round, ThingMagic Gets a Fix on Smaller RFID Readers

Published: July 14, 2008, 3:26 pm

Tags: boston, boston blog main, national blog main, vc, funding, rfid, wireless, startups, thingmagic, radio frequency identification, impinj, intel, dewalt, ford

VC, funding, RFID Wade Roush wrote: The RFID business is getting hot again. A few weeks ago, Waltham, MA-based RFID software maker OATSystems was gobbled up by New Jersey’s Checkpoint Systems, and last week Greg reported that Seattle-based Impinj had sold off its memory business and bought Intel’s RFID division. Now Cambridge, MA-based ThingMagic, an MIT spinoff that makes hardware for reading RFID (radio frequency identification) tags, says that it has closed a $9.5 million Series B funding round. On top of an $18.5 million pot raised in early 2006, the new round brings the company’s total financing to more than $28 million. Existing investors Tudor Ventures, The Exxel Group, Morningside Technology Ventures, and .406 Ventures ponied up for the round. Founded in 2000 by a group of MIT Media Lab physicists, ThingMagic has just under 40 employees working from offices at One Broadway in Cambridge and a laboratory space in Woburn, MA. The new funding round

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