US-based chip-maker Intel has helped Impinj, a US-based radio frequency identification business, raise $21m.
Intel was joined in the round by US-based fund manager AllianceBernstein and venture firms ARCH Venture Partners, GF Private Equity Group, Madrona Venture Group, Mobius Venture Capital
The company added it planned to raise $24m by the end of August.
Mark Mackenzie, who manages the investment on behalf of AllianceBernstein, said: “The successful use of RFID in item-level tagging applications, particularly in the retail sector, has accelerated the demand for RFID products worldwide. As an active investor in both private and public companies, we are excited to continue to invest in Impinj, the market share leader in UHF RFID.”
Impinj had filed for a $100m initial public offering last year. The company added it had withdrawn its plans to list because the financing “fulfills the company’s capital needs for the foreseeable future”.
Impinj, founded in May 2000, has previously raised more than $110, according to its website.
In January 2008, Impinj raised more than $14m from electronics companies Inventec Appliances Corporation, LS Industrial Systems, Samsung Ventures America and YFY Group, having raised $19m in March 2007 from a consortium including Unilever Technology Ventures, UPS Strategic Enterprise Fund, VentureTech Alliance and the Viterbi Group, the investment firm of Qualcomm co-founder Andrew Viterbi.
Venture firms Polaris Venture Partners, Venture Tech Alliance, Viterbi Group, the investment unit of Qualcomm founder Andrew Viterbi, are also backers of the company.