Siemens invests in G2 Microsystems
Oakland, CA —The intent of Siemens Venture Capital's (SVC) investment in G2 Microsystems Inc.is to further the development of WiFi Active RFID (radio frequency identification) for the mobile resource management market. It will boost G2 Microsystems Inc.'s, a developer of integrated circuits, research and development efforts in the design of ultra low-power, active MRM chips for asset tracking. Terms of the funding agreement were not disclosed.
"Siemens is pleased to make this strategic investment in G2 Microsystems, and believe their technology will greatly improve the way companies globally track and monitor assets," said Todd Jaquez-Fissori, investment partner, Corporate Fund, SVC. "We think wireless, RFID and sensor technologies offer significant upside market opportunities in multiple vertical applications. By embedding G2's technology, a company can extend its product leadership and offer new services to their customers."
G2 Microsystems is developing a range of ultra low-power, active MRM chips that leverage the widely deployed Wi-Fi (IEEE 802.11) network, resulting in a low, total cost-of-ownership and minimal back-office integration. These system-on-chip solutions provide the right balance of cost, power, functionality, and size to meet the demanding asset tracking and monitoring requirements in all industries including healthcare, automotive, transportation, government, biopharmaceutical, oil, gas, and chemical.
To date, SVC has invested some€700 million in over 100 start-up companies and 30 venture capital funds mainly in the U.S., Europe, and Israel. SVC is located in Munich, Germany, in the U.S. (San Jose, CA and Boston, MA), and is active through regional units in Israel and China.
For more information visit www.g2microsystems.com .
—Richard Phelps, senior editor, Control Engineering