In order to concentrate better on its ultra-high-frequency radio frequency identification (RFID) battery assisted, passive (BAP) technology, PowerID was spun out of parent company, Power Paper, in January 2007. PowerID’s products are capable of tracking high-value assets in challenging environments.
The flexibility and high-performance of PowerID’s BAP approach means that the company successfully entered a range of markets, including aerospace, third-party logistics, defence and paper manufacturing, which had need of thin, flexible and affordable labels that are superior to passive labels. PowerID is developing a line of Smart Active Labels that include sensors such as time, temperature and motion, and memory chips to support industries such as cold food transportation and storage.
Amadeus first invested in Power Paper in 2003, leading a $15 million round of financing. Amadeus was instrumental in aiding the spinout of PowerID, from Power Paper, which brought with it the intellectual property associated with RFID applications. Subsequently Amadeus participated in Power ID’s first independent fund raising in August 2007. The $10m round was led by Partech International Ventures along with all major existing investors.
