PervasID secures £1.6m Series A funding to expand team and advance technology
Angel investors and Cambridge funds backed the Series A round alongside an Innovate UK grant.
£1.6MSeries A
PervasID is a Cambridge based university spin out that develops radio frequency identification technology with high detection rates.
PervasID has secured £1.6m in a Series A funding round backed by angel investors and Cambridge investment funds. The capital follows a separate £240k grant from Innovate UK, bringing total recent funding to £1.8m.
The Cambridge spin out will direct the new resources towards expanding its headcount and advancing its proprietary RFID technology, which achieves detection rates exceeding 99 per cent.
Use of funds
- 01Grow the team
- 02Continue product development
