RFID reader specialist and Mercury 5 purveyor ThingMagic, Inc. this week announced that it had received an investment from In-Q-Tel, a group whose mission is to deliver next-generation technology to the U.S. Central Intelligence Agency and the wider domestic intelligence community.
The pact also includes a technology development agreement, the companies revealed in a statement. Tom Grant, chairman and CEO of ThingMagic, said the investment, the amount of which was not disclosed, would allow the company to continue to expand its reader platform and embed that technology in new form factors.
"ThingMagic is a critical addition to our portfolio of wireless technologies," said Ben Levitan, partner at In-Q-Tel, in a statement. "We review thousands of innovative business plans but invest in only those few that address the most difficult technology challenges faced by both commercial enterprises and the national security community. ThingMagic's innovative RFID technology and research on wireless sensors offers great promise for both the private and public sectors."
In-Q-Tel supports a diverse portfolio of investments that includes companies focused on communications; identity and security; application software; bio, nano, and chemical technologies; and embedded systems and power.