Kovio Raises $15 Million with Lead Investor Tyco Retail Solutions
Printed silicon electronics platform enables NFC solutions for retailers
MILPITAS, Calif., June 9, 2011 /PRNewswire/ -- Kovio, Inc., a privately held pioneer in printed silicon electronics, today announced that it has raised $15 million in a new equity financing led by Tyco Retail Solutions, a unit of Tyco International and a global leader in retail solutions and services. As the market opportunity for mobile interactive platforms evolve, the funding will enable Kovio and Tyco Retail Solutions to deliver solutions that take advantage of the emerging infrastructure of Near Field Communication (NFC)-enabled devices and printed silicon capabilities. Current investors Kleiner Perkins, Caufield & Byers, DAG Ventures, Northgate Capital, Harris & Harris, Flagship Ventures and Pangaea Ventures also participated in the round.
"We are delighted to be partnering with Tyco to bring to market the world's first commercially available products that leverage Kovio's printed silicon capabilities," said Kovio CEO Amir Mashkoori. "By integrating our products with the offerings from Tyco Retail Solutions we are enabling new opportunities for retailers and brand owners."
Kovio combines proprietary high-performance silicon inks with graphics printing technologies to print Kovio RF Barcodes on flexible substrates at a fraction of the cost of conventional silicon technology. Combined with NFC enabled mobile phones and devices, Kovio's RF Barcodes usher in a new era of mobile marketing and advertising by allowing brand owners and retailers to engage directly with individual consumers. With a simple wave of their mobile phone consumers will be able to gain deeper product insight, take advantage of targeted promotions and offers, and be assured of a product's safety and authenticity.
"Kovio has developed a groundbreaking technology and we are pleased to partner with them to accelerate its introduction to the market," commented Scott Clements, President of Tyco Retail Solutions.
"We are very excited about the Kovio opportunity and the strategic partnership with Tyco Retail Solutions," added Ajit Nazre, partner, Kleiner Perkins, Caufield and Byers. "The emergence of NFC-enabled devices coupled with Kovio's unique printed silicon capability makes for a dynamic market opportunity within interactive mobile platforms."
About Kovio, Inc.
Kovio, Inc., a privately held Silicon Valley company, is developing a new category of semiconductor products using printed silicon electronics and thin-film technology. Kovio's approach delivers a unique and compelling value proposition in multiple industries, including retail, healthcare, consumer electronics, transportation, manufacturing and energy. For more information on Kovio, please visit http://www.kovio.com.
About Tyco Retail Solutions
Tyco Retail Solutions, a unit of Tyco International, is a leading global provider of integrated retail performance and security solutions, deployed today at more than 80 percent of the world's top 200 retailers. Operating in more than 70 countries worldwide, Tyco Retail Solutions provides retailers with real-time visibility and protection of their inventory and assets to improve operations, optimize profitability and create memorable shopper experiences. The Tyco Retail Solutions portfolio is sold through ADT and authorized business partners around the world. For more information, please visit www.tycoretailsolutions.com.
The Hoffman Agency for Kovio
+1 (408) 286-2611
Tyco Retail Solutions
+1 (214) 300-1098
SOURCE Kovio, Inc.
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.