| Inside Contactless secures €19.5 million
5 September 2006 17:04
By Tornado Staff
Inside Contactless, a provider of contactless semiconductor chips, has closed a new funding round of €19.5 million led by Granite Global Ventures. The other new investor in this round was EuroUs Venture. Current investors who contributed half of the total amount were led by Sofinnova Partners, now the largest shareholder, and include Vertex Venture Capital, Vertex Management, GIMV, and Siparex Ventures. This funding will allow the company to further expand its sales and marketing presence in Asia and the US. It will also reinforce its research and development efforts, and accelerate new product introduction across the company’s two major business lines in Payment and NFC.Headquartered in France with a global presence in China, Singapore, Poland and the US, Inside Contactless is a fabless semiconductor provider, delivering a flexible, cost-effective, and trusted platform for contactless applications including bankcard payments and Near Field Communications (NFC). Inside is involved in numerous industry initiatives, including the NFC Forum, which is driving the standardization of NFC; as well as the IN-CLUB, which is a non-profit association that brings together companies in the Payment, ID, Mass Transit and Mobile application markets, to collaborate on contactless applications and initiatives. If you like to be updated on investment deals done in Europe, subscribe now to our Weekly Deals in Europe Report
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