PervasID bags £200,000 investment from Maven Cognition to ramp up roll-out of TrackMaster RFID solution.
PervasID, a specialist in fixed passive RFID technology, has secured a further £200,000 investment from Maven Cognition.
The funding will accelerate the global roll-out of its TrackMaster solution, with a particular focus on US markets.
Peter Oram, CEO at PervasID, which was founded in 2011, said, “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 roll-out 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.”
Richard Male, Managing Director at Maven Cognition, said, “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.”
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