Austin, TX (PRWEB) June 3, 2010
The Austin Technology Incubator (ATI), a not-for-profit arm of The University of Texas at Austin, announced today that its member company, RFMicron, Inc., will graduate July 2, 2010, three years to-date after joining the incubator in 2007.
RFMicron is the first in the radio-frequency identification (RFID) industry to offer a complementary hardware and software package, giving their users an unprecedented flexibility and security. RFMicron offers a hardware and software product package that will transform wireless tracking, a process in which a transmitter is packaged with or incorporated into an item for identification and tracking using radio waves.
While at the Incubator, RFMicron raised more than $1.5 million in funding, including the first “pre-seed” funds awarded a Central-Texas company by the Texas Emerging Technology Fund. The company also began acquiring tier-one clients, built a solid management team and added three directors to its board. The company picked up Daryl Ostrander, former SVP of manufacturing and development at AMD, Chris Politte, former 23-year partner at Accenture, and John Paulos, former SVP/GM of industrial products at Cirrus Logic.
When asked the value ATI offers, Shahriar Rokhsaz, president and CEO of RFMicron, said of ATI’s staff, "These guys are all about making you successful.” In addition to the space, startup resources and communications connectivity, Rokhsaz said the talent at the ATI helped him develop his product into a value proposition. "They provide some seasoning you have to go through. Having them sit down and criticize the value proposition helps quite a bit."
RFMicron's focus moving ahead is to grow customer traction and expand its channel partnerships. Since the field is highly fragmented, the majority of RFMicron's clients are system integrators who manage inventory and logistics flow for end users, which include carriers, manufacturers and retailers.
“RFMicron’s evolution has been extraordinary,” said Bart Bohn, director of the ATI Wireless Incubator. “It provides a revolutionary solution that combines complementary hardware and software products and is setting a great example for Austin’s hardware startup community.”
RFMicron is the sixth company to graduate from the Incubator this year. A formal ceremony is planned for early 2011.
About the Austin Technology Incubator
The Austin Technology Incubator is a nonprofit unit of The University of Texas at Austin that harnesses business, government and academic resources to provide strategic counsel, operational guidance and infrastructure support to its member companies to help them transition from early stage ventures to successful technology businesses. Since its founding in 1989, ATI has worked with over 200 companies, helping them raise close to $750 million in investor capital. ATI is a key program of the IC2 Institute at The University of Texas at Austin. For more information, visit http://www.ati.utexas.edu
About RFMicron, Inc.
RFMicron is transforming wireless tracking, a process in which a transmitter is packaged with or incorporated into an item for identification and tracking using radio waves. The company is the first in the industry to offer a complementary hardware and software package, giving their users an unprecedented flexibility and security. The package consists of RFVlink, a web-based software platform and RFMicron's own passive radio-frequency identification (RFID) chip, configured with RFMicron's proprietary Chameleon technology. The software platform works with a Chameleon chip to wirelessly define chip functions and thereby eliminate costly data processing typically done in chips themselves. To learn more about RFMicron, visit http://www.rfmicron.com.