Tuesday, January 31, 2006

ThingMagic Raises $21 Million for RFID Readers

ThingMagic, a start-up based in Cambridge, Mass., has raised $21 million in financing to support the development of its radio frequency identification (RFID) technology.

ThingMagic's Mercury4 RFID reader platform is designed with a unique Software Defined Radio architecture. It is certified by EPCglobal and MET Labs for all three Generation 2 RFID modes, including the complex Dense Reader mode. The Mercury4 readers can be remotely updated for any future Generation 2 variants and other new RFID standards.

New investors include Cisco Systems, Inc., the worldwide leader in networking for the Internet, and Nicholas Negroponte, Wiesner Professor of Media Technology at the Massachusetts Institute of Technology and founding chairman of MIT's Media Laboratory.