Thursday, July 26, 2012

Impinj Raises $21M, But Drops IPO Effort

Impinj, a developer of UHF, radio frequency identification (RFID) chips which has linked to Caltech, and an office in Orange County, said today that it has raised $21M in an equity funding round, as well as dropped its plans for an IPO. Impinj said the funding came from AllianceBernstein L.P., ARCH Venture Partners, GF Private Equity Group, Intel Corporation, Madrona Venture Group, Mobius Venture Capital and Polaris Venture Partners. Impinj is based in Seattle, but also has an engineering office in Rancho Cordova. The firm no longer lists a location in Newport Beach, where it was originally based. Impinj said the funding will go towards sales, marketing, product development, and manufacturing operations. The firm had filed for an IPO in April 2011. The company said that those plans are not completely on hold; it expects to submit a streamlined registration statement under the new JOBS Act, "when conditions warrant." More information »

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