Tuesday, June 28, 2011

ViVOtech Raises $24 Million for NFC

ViVOtech, a start-up based in Santa Clara, California, raised $24 million in an extension to its Series C round of funding for its near field communication (NFC) software and systems.

ViVOtech provides key building blocks of the NFC ecosystem: smart applications for enhancing the customer experience, wallet and trusted service manager (TSM) software, and point of sale systems.

New investors include Singapore's EDBI, SingTel Innov8, and Motorola Solutions Venture Capital, which were joined in the round by ViVOtech's current financial and strategic investors Alloy Ventures, Citi Ventures, Draper Fisher Jurveston, DFJ Gotham, First Data Corporation, Miven Ventures, Motorola Mobility, Nokia Growth Partners and NCR.

ViVOtech was founded in 2001.

  • Earlier this month, ViVOtech announced that Google is using its technology to give Android phone owners the ability to make payments and take advantage of real-time in-store offers and loyalty programs at the point of sale (POS).