What is SimplyRFID?
SimplyRFID specializes in advanced RFID tracking systems, leveraging RAIN RFID technology. This innovative approach utilizes low-cost microchips, approximately five cents each, to monitor the movement of a vast array of assets. The company's technology is deployed across diverse sectors, tracking millions of items including IT servers, pharmaceuticals, apparel, military equipment, and laptops. With operations spanning the United States, Canada, and the United Kingdom, SimplyRFID provides critical visibility and management for high-value inventory and equipment.
How much funding has SimplyRFID raised?
SimplyRFID has raised a total of $277K across 2 funding rounds:
Debt
$150K
Debt
$127K
Debt (2020): $150K with participation from PPP
Debt (2021): $127K led by PPP
Key Investors in SimplyRFID
PPP
Public-Private Partnership
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for SimplyRFID?
The substantial late-stage funding positions SimplyRFID for accelerated growth and market expansion. This strategic investment is expected to fuel further development of their RAIN RFID tracking solutions, enhance operational capabilities, and potentially broaden their geographic reach. The company's focus on scalable technology for tracking millions of assets across various industries suggests a trajectory towards becoming an indispensable partner for businesses requiring robust asset management and supply chain visibility.
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