SPACECODE Receives Substantial Cash Injection
Geneva, Switzerland august 4th 2006
SPACECODE, a specialist RFID company focused on item level tagging based in Europe, has received a significant cash injection and is under new management following successful negotiations and transfer of its intellectual property and operating business to Winstead Assets, a boutique technology investment house.
Actual amounts have not been disclosed, but it is estimated millions of dollars have been made available to the company for commercialisation of its technology.
“This cash injection will ensure SPACECODE has the resources to establish itself as the leading global supplier of RFID technology” says Paul Davis, the newly appointed Managing Director of SPACECODE and co-founder of Winstead Assets. “The RFID solution developed by SPACECODE is undoubtedly the best in class, and this massive investment reflects that fact”.
SPACECODE is a vertically integrated RFID SOLUTIONS PROVIDER, and owner of proprietary patented RFID technology. Established in 1994, SPACECODE Research Laboratory has been developing RFID technology giving 100 % identification and reading accuracy in all environments.
Pierre Raimbault, inventor and founder of SPACECODE, believes that “This investment is a major milestone in the growth of the company. This investment will allow SPACECODE to fully commercialise and scale its unique RFID solution, and establish it as the pre-eminent item level RFID solutions provider globally. SPACECODE is unique amongst all RFID solutions companies because its patent protected technology is ideally suited for applications where many objects need to be identified simultaneously, which are in close proximity, randomly oriented and in the vicinity of metal, water, or other organic material. This cannot be reliably achieved by our competitors”.