Tego Secures $6 Million in Funding to Fuel Growth and Support Market Expansion in the Internet of Things

WALTHAM, Mass., Nov. 4, 2015 /PRNewswire/ -- Tego, Inc., a developer of smart asset solutions for managing digital data in the Internet of Things, announced today that it has secured $6 million in funding from a group of individual investors in order to accelerate the delivery of Tego's patented solutions to the health sciences industry.

With this funding, Tego will further extend its passive RF-enabled technology to health sciences organizations, which are under increasing pressure to deliver quality products more quickly and with more manageable total costs of fulfillment than ever before. Meeting this demand requires innovative solutions for managing digital data on physical assets—in "smart factory" manufacturing settings and unforgiving ebeam and gamma sterilization processes.

Tego's RF solutions survive sterilization while managing critical product, packaging, and even transport data and information from the initial point of manufacturing through to clinical use. The technology enables key benefits to support product safety, security, and lifecycle management, including:

• Encrypted or password-protected information for controlling read-write capabilities
• Digital certificates as proof of authentication
• Chain of custody information for epedigree
• Compliance with the FDA's UDI mandate for medical devices
• Real-time visibility of product condition
• Automatic updates of events such as product recalls or replacements
• Authentication to avoid counterfeit parts usage

Tego already has more than 50 customers in the aerospace industry, where customers use Tego's products on components installed on Airbus and Boeing aircraft. Tego provides rugged, high-memory semiconductor chips and tags that can be attached to or manufactured into the component, allowing continuous lifecycle data storage and updating at the point of use. Airlines have demonstrated that standard maintenance checks can be completed with 90% less labor time.

"Tego's mission has always been focused on bringing digital intelligence to physical assets in order to help customers reduce costs, increase operational efficiencies, and mitigate risks" said Timothy Butler, CEO of Tego. "With this additional funding, we will further accelerate our delivery of RF-enabled smart asset solutions to help more customers realize unforeseen value in every industry we serve."

Tego's solution uses proprietary semiconductor chips to provide RF connectivity, data management and storage, sensor functionality, and security of data stored. The solution does not require external power or Internet connectivity, because it efficiently harvests power when it is interrogated by an RF reader. It also incorporates a data bus that allows it to provide power to and read data from a variety of off the shelf sensors. The company's semiconductor and software products are based on an extensive intellectual property portfolio that includes 27 issued patents and dozens of pending patents.

About Tego, Inc.
Tego makes the world smarter. With an RF-based platform that helps its customers manage digital data on physical assets, run analytics at the point of need, and deliver insights for better business decisions—because better decisions reduce risks, increase safety, and improve the reliability of products we use every day, all over the world. For more information, visit us on the web www.tegoinc.com and connect with us on Twitter, LinkedIn, and Facebook.

Tego, TegoTag, TegoView, TegoDrive and TegoChip are trademarks of Tego, Inc. All other trademarks and registered trademarks are the property of their respective holders.

375 Totten Pond Road, Waltham, MA 02451 USA • T: +1 781.547.5680 • www.tegoinc.com

SOURCE Tego, Inc.

Related Links

http://www.tegoinc.com