PowerId, UltraShape secure financing

PowerID completes $12 m. fundraising round led by Partech while Yokneam-based UltraShape completes $15.1m. round led by Meritech.

By JULIE EISEN
September 6, 2007 17:36

PowerID Ltd. said it completed a $12 million fundraising round led by Partech International with the participation of existing shareholders, including Amadeus Capital Partners, Apax Partners, Clal Industries and Investments, and Infinity Venture Capital. PowerID, which was spun off from Power Paper in January, is a leader in field of Battery-Assisted, Passive RFID technology used in areas such as tracking high value pallets with RF-challenging materials from distribution center to customers; industrial paper reels from manufacturer to print house, and metal aircraft parts during the manufacturing process. Separately, Yokneam-based UltraShape, a leader in non-invasive body contouring, said it completed a $15.1m. round of funding led by new investor Meritech Capital Partners. Previous institutional investors Israel seed Partners and Polaris Venture Partners also participated.


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