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Alien Technology Corporation Receives
$18 Million in Funding
MORGAN HILL, CA
April 5, 2004
Alien Technology Corporation announced today the closing of its latest
round of financing. The round, which was led by Advanced Equities
Inc., totaled $18 million.
In addition to Advanced Equities Inc., Lago Ventures Fund and Forsythe
Technology made major investments in this round of funding. A new
strategic investor, Datalogic, a leading supplier of barcode technology,
also participated. "We are very pleased with this additional
financing," said Stav Prodromou, Chief Executive Officer. "The
funding will reinforce Alien's already strong financial footing such
that we can be even more aggressive in our pursuit of the expanding
opportunities in the RFID market," Prodromou added.
This round brings the total equity financing for the company to $143
million. Prior financing has allowed the Company to bring into production
its patented manufacturing process, Fluidic Self Assembly , and to
develop industry leading RFID chips, tags and readers.
Tom Baruch, Chairman of Alien Technology commented, "The Company's
ability to secure this significant round of financing represents the
investment community's endorsement in Alien's technology and its position
in the RFID market."
About Alien Technology
Alien Technology Corporation is a leading provider of reliable, high-volume,
low cost, EPC compliant Radio Frequency Identification (RFID) products.
Using Fluidic Self Assembly (FSA ), a patented manufacturing process,
Alien manufactures electronic product code (EPC) class 1 tags and
readers used in a variety of applications including supply chain management,
logistics operations and anti-counterfeiting to improve inventory
management and reduce operating costs. Alien Technology Corporation
is an active member of EPC Global. More information about Alien Technology
Corporation can be found on the Company's website at www.alientechnology.com.
Alien, Alien Technology and FSA are trademarks or registered trademarks
of Alien Technology Corporation in the United States and other countries.
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