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