PervasID secures £200k from Maven Cognition to expand TrackMaster rollout
The fresh capital from Maven Cognition will support the international expansion of PervasID and its TrackMaster system.
PervasID develops passive radio frequency identification technology that provides high accuracy asset tracking for sectors including retail and healthcare. The business offers patented hardware and software solutions designed for remote monitoring.
PervasID has secured £200k in new funding from Maven Cognition to support its international expansion. The capital will be directed towards accelerating the rollout of the company's TrackMaster solution, particularly within US markets, and enhancing its software capabilities.
This latest injection follows a £3m funding round closed by the firm in 2024. PervasID continues to scale its operations to meet rising demand from commercial clients requiring precise inventory tracking and data analytics.
From the founder
"The growth we’ve experienced in recent years is a testament to our market-leading innovation. Our 2024 investment round, which secured over £3 million, is already taking the business to the next level as we continue with the global rollout of TrackMaster. We’ll be using this latest investment to continue our growth plans and to maximise the opportunities in the UK and US where we are seeing fast-paced adoption of TrackMaster."
Peter Oram
CEO at PervasID
Investor perspective
"We are pleased to support PervasID through our first EIS fund. The company is a strong example of the type of innovation-led business we seek to back – with proven technology, growing commercial traction, and clear international opportunity. We look forward to working with the team as they continue to scale."
Richard Male
Managing Director, Maven Cognition
Use of funds
- 01Expand into international markets
- 02Fund research and development