Inside Raises Funds for Continued Development

Thursday 5 February 2004 13:34 CET | News

INSIDE Contactless has closed a further round of financing, raising an additional EUR 3m to finance milestones, R&D projects and to sustain its worldwide expansion program.

This current round of financing comes one and half years after the arrival of three new investors: Siparex Ventures, Vertex Funds and NIF Ventures Co. Ltd. All major investors: Vertex Funds, GIMV, NIF Ventures Co. Ltd, Siparex Ventures and Alta Berkeley participated to in this current capital increase; private investors and INSIDEs employees also invested. The total capital of the company currently stands at EUR 8,600,000. In continuing its global expansion, INSIDE is creating a further three employment posts for Support Engineers covering: Europe, North America and Asia; additionally, an IC Product Engineer will be hired for forthcoming milestone projects. Today, INSIDEs extensive and best in class product range covers the full spectrum of contactless applications, from Access control, Identification, Payment and Mass Transit, E-tagging.

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Categories: Payments & Commerce | Cards
Countries: World
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