PervasID Secures £750,000 in New Investment for RFID Expansion
Deal News | Nov 21, 2024 | Maven Capital Partners
PervasID, a pioneering RFID technology company originally spun out from Cambridge University, has secured a fresh investment of £750,000 to fuel its growth trajectory. Maven Capital Partners led the investment round, which also included participation from EIS investors Parkwalk Advisors. This transaction involved contributions from two Maven-managed regional funds: £375,000 from the Finance Durham Fund and £375,000 from the Northern Powerhouse Investment Fund II, highlighting a strategic regional investment focus. Under the leadership of CEO Peter Oram, appointed in June 2023, PervasID is set to leverage this capital to expand its RFID technology's market reach, specifically targeting sectors like retail and aerospace that are increasingly adopting passive RFID solutions. The investment will also support PervasID's innovation efforts, particularly in enhancing data analytics software to complement its established hardware offering. The company, which has opened a base at NETPark in County Durham, aims to capitalize on the IoT trend, with RFID systems becoming more mainstream due to decreasing tag costs. This funding is poised to reinforce PervasID’s position within the growing RFID cluster and support its growth strategy.
Sectors
- Technology and Innovation
- Venture Capital and Private Equity
- Retail and Aerospace
Geography
- United Kingdom – The investment takes place primarily in the UK, involving companies based in regions such as County Durham and Cambridge.
- North of England – The Northern Powerhouse Investment Fund II focuses on supporting growth in the North, with PervasID establishing a base in County Durham.
Industry
- Technology and Innovation – The article focuses on PervasID, a technology company specializing in RFID solutions, highlighting innovation in the IoT space.
- Venture Capital and Private Equity – Maven Capital Partners, a private equity firm, is a key investor in PervasID's latest funding round.
- Retail and Aerospace – These sectors are specifically mentioned as key markets for the adoption of PervasID's RFID solutions.
Financials
- £750,000 – Total investment into PervasID, split between Maven's regional funds and co-investors.
- £375,000 – Investment from Finance Durham Fund.
- £375,000 – Investment from Northern Powerhouse Investment Fund II.
- £660m – Total size of Northern Powerhouse Investment Fund II for the North of England.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PervasID | Target Company | Company | A Cambridge University spin-out specializing in RFID technology for tracking and data analytics. |
| Maven Capital Partners | Investor | Company | A private equity firm investing £750,000 in PervasID alongside regional funding initiatives. |
| Parkwalk Advisors | Co-Investor | Company | An EIS investment firm participating in co-investment with Maven. |
| Finance Durham Fund | Investor | Company | A funding initiative by Business Durham supporting PervasID with £375,000. |
| Northern Powerhouse Investment Fund II (NPIF II) | Investor | Company | Providing equity to support SMEs in the North, contributing £375,000 to PervasID. |
| Business Durham | Administrator of Finance Durham Fund | Company | Responsible for managing economic growth initiatives in County Durham. |
| Peter Oram | CEO | Person | CEO of PervasID, leading the company through the recent investment round. |
| Dr. Sabesan Sithamparanathan | Founder | Person | Founder of PervasID and entrepreneur in the IoT industry. |
| Rebecca MacDermid | Investment Manager | Person | Investment Manager at Maven, involved in the PervasID transaction. |
| Sarah Newbould | Senior Manager | Person | Senior Manager at British Business Bank, commenting on NPIF II's role. |
| Sarah Slaven | Managing Director | Person | Managing Director at Business Durham, overseeing regional investments including the Finance Durham Fund. |