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Radio Frequency Identification (RFID) startup Reva Systems has chalked up $13.5 million in Series B funding from Cisco and SAP Ventures as the startup looks to expand its customer base.
The round, which also included existing investors North Bridge Venture Partners and Charles River Ventures, brings the startup's total funding to $20 million. Reva, Cisco, and SAP have also entered into an agreement to collaborate on RFID, which Ashley Stephenson, Reva's chairman, hopes will open doors.
"We want to grow the number of customers [that we have] and we want to grow the size of our installations within [existing] customers," he says, adding that the firm will use its Series B money to increase its workforce from around 35 to 50 and open offices in the Far East and Europe.
Reva's flagship product is the Tag Acquisition Processor (TAP), a one-rack-unit-high device that sits on a local area network (LAN) and draws information from RFID readers. The idea is that the device acts as a data filter, preventing back-end storage systems from being overloaded. (See Reva Taps Into RFID Data, Reva Unveils TAP , and Startup Raves on RFID.)
RFID works by using tags, on either a specific product or package, that emit radio signals. "Reader" devices pick up these signals, enabling the products to be tracked. Whereas previously, businesses relied on barcode readers to keep track of their wares, RFID technology does not require direct contact, or what is known as "line-of-sight" scanning.
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