OATSystems gets $11.5 mn from 2 VC firms

By SiliconIndia   |   Monday, 22 September 2003, 07:00 Hrs
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HYDERABAD: OATSystems, a privately-held software firm, has announced that it has secured financing of $11.5 million from two venture capital firms, Matrix Partners and Greylock.

The funding will support several initiatives, including product development in the Radio Frequency Item Identification (RFID) industry, OATSystems’ founder, Mr Prasad Putta said in a press release.

OATSystems has a product, Senseware, which is the first reader independent RFID middleware providing business with real time visibility and product security in their supply chains.

The company was one of the first technology sponsors of the Massachussetts Institute of Technology Auto-ID centre, a global research programme dedicated to developing automatic identification networks to improve supply chain management, according to the release.

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