LONDON — Kovio Inc. (Milpitas, Calif.), a private company developing manufacturing technology that combines graphics printing with silicon-based circuitry, has raised $15 million to pursue NFC applications in a round of funding led by Tyco Retail Solutions.
The company, formed in 2001, raised $20 million in a series E round in 2009 and the latest funding brings the total invested in the company to more than $65 million.
Tyco Retail Solutions is a unit of Tyco International and provider of retail systems. The funding will enable Kovio and Tyco Retail Solutions to deliver solutions that take advantage of NFC-enabled devices and printed silicon. Current investors Kleiner Perkins, Caufield & Byers, DAG Ventures, Northgate Capital, Harris & Harris, Flagship Ventures and Pangaea Ventures also participated in the round.
Kovio combines proprietary silicon inks with printing technologies to produce RF barcodes on flexible substrates at a fraction of the cost of conventional silicon technology. With a 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 using the printed barcodes, Kovio said.
"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, in a statement. "By integrating our products with the offerings from Tyco Retail Solutions we are enabling new opportunities for retailers and brand owners."
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