Home / Knowledge / News / Information Technology / TAGSYS secures €8 million in venture funding
TAGSYS secures €8 million in venture funding
18
Mar '10
TAGSYS, the leading provider of item-level RFID infrastructure, announced that it has secured €8 million ($12 million USD) in new investment, led by current investors Elliot Advisors, Endeavour Vision, Add Partners, DFJ Esprit and Saffron Hill. TAGSYS will use the funds to expand its distribution channels, help partners secure new markets, and continue to develop UHF and HF solutions optimized for item-level applications for a variety of markets including Library, Textile Services, Brand & Fashion and Healthcare.

“2009 was a year of successes for TAGSYS. While increasing revenue, and closing major projects, we improved operational efficiency by 40% and established processes that assure our customers and partners superior levels of quality, delivery and solution reliability,” said Alain Fanet, CEO of TAGSYS. “The new funding will accelerate our partner network expansion and new market development, while reinforcing our strong competitive position by launching leading-edge solutions for item level applications.”

“Item-level RFID implementations are growing in supply chain, asset tracking, consumer goods, retail and other industries because they provide real value by helping companies cut costs, enhance customer experiences and grow sales,” said Andrew Nathanson, Director of Research Operations at VDC Research. Companies like TAGSYS who can meet customer needs in multiple markets by bringing together appropriate technologies and business partners are well positioned to grow in the current adoption climate.”

Leveraging a global network of business partners including systems integrators, independent software vendors and VARs, TAGSYS' business model provides complete purpose-built infrastructure to customers. This go-to-market strategy has led to wins in several major applications throughout the past year, including item-level supply chain projects with Fashion Apparel firms Rica Lewis and Serge Blanco. The companies use TAGSYS solutions to track millions of clothing items, and to manage in-store inventory at leading European retailers including Carrefour, Auchan and Intermarché.

“After years of over-hyped expectations, the RFID market has reached a stage of maturity where customers are focused on the proven tangible benefits of RFID and using practical, real-world solutions to gain competitive operational advantage” said Bernard Vogel of Endeavour Vision. “Industry leading RFID solutions-based companies such as TAGSYS are at the forefront in delivering this competitive advantage to leading companies around the globe.”

TAGSYS


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Top executives
Textile industry, India

The event should be organised every year

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search