Martlet contribute to a £1.6m Series A round for PervasID



01 October 2018

New staff and further upgrades in technology are on the cards at Cambridge RFID pioneer PervasID after the University spin-out clinched £1.84 million funding from two separate sources.

Angel backers and Cambridge investment funds contributed to a £1.6m Series A round while Innovate UK has provided a £240k grant.

The funds will help the company progress RFID technology developed at the University of Cambridge – tag technology said to boast over 99 per cent detection rates.

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