Alien Technology Corp., a maker of Radio Frequency Identification (RFID) products and services, is raising another $40 million in a ninth round of venture money, according to Private Equity Hub. That should bring the Morgan Hill, Calif. company’s total funding to a whopping $302 million.
A broker dealer called Advanced Equities Capital Partners is reportedly telling existing investors that it’s in their “best interests” to “fully participate” in the new round. Alien Technology tried to go public in 2006, but had to withdraw its IPO. It last raised $33 million a little more than a year ago.
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Startup Meme » Blog Archive » Alien Technology Corp. raises $ 40 million funding said:
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Alien Technology raises $38 million for RFID technology » VentureBeat said:
[...] sales, it filed a for a scary IPO, but was forced to pull it and then cut its worforce. It has burned through whopping $302 million. Now the once-struggling company is back with a new round of $38 million in venture [...]