What is SimplyRFID?
SimplyRFID specializes in developing advanced RFID tracking systems that leverage RAIN RFID technology. This innovative approach utilizes low-cost microchips, approximately five cents each, which can be affixed to virtually any item to meticulously monitor its movement. The company has demonstrated a strong capability in tracking millions of diverse assets, including critical IT infrastructure such as servers, high-value pharmaceuticals, apparel, essential military equipment, and laptops. SimplyRFID's operational footprint is primarily concentrated across the United States, Canada, and the United Kingdom, highlighting its international reach in asset management solutions.
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
What's next for SimplyRFID?
The substantial capital infusion, particularly the recent strategic investment, positions SimplyRFID for accelerated growth and market penetration. As a company operating in a large-scale, late-stage funding environment, SimplyRFID is likely to focus on scaling its operations, enhancing its technological offerings, and potentially expanding into new geographical markets or industry verticals. This strategic financing will empower the company to further solidify its leadership in the competitive RFID tracking solutions landscape, driving innovation and operational efficiency for its clients.
See full SimplyRFID company page
