Identic Solutions connects with Investors – €10M for Austria-based RFID company

IDENTEC SOLUTIONS uses the power of RFID combined with tight infrastructure to deliver real-time information on mobile resources which saves customers millions of dollars in operating costsIdentec Solutions, a provider of RFID solutions based out of pretty Austria, has announced a financing round of €10M. The company designs and markets intelligent long-range asset management system. Lead investor was SAM Private Equity with participation from Sustainable Performance Group, RFID Invest, gcp gamma capital partners (well done Oliver!) and an undisclosed private investor.

Takeaway: Identec Solutions focuses on a multi-billon euro market. According to analysts, the total market for RFID (tags, system, sw, hw, etc.) could account for $24Bn by 2015. However, so far, the expectations in this market have not been fulfilled at all. Pilot projects have been stopped or delayed. Implementation cycles take much longer than planned. Often it is necessary to cover the whole value chain with a solution in order to derive substantial cost savings. The initial hype generated by projects such as by Walmart resulted in partly disappointing results and – not surprising – high costs for suppliers. People and industry experts seem to be much more realistic nowadays in terms of RFID’s potential! Which is good of course!

Recommendations: Although the market might take longer to develop than expected, RFID is clearly one of the leading, pervasive technologies ahead of us. Once the initial pilot projects in various industries have delivered the expected ROI, the world should be poised to see more innovation coming from this sector.

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Explore posts in the same categories: Software, VC backed Companies, Venture Capital

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