Passive RFID Tag: RFID Tag Developer Tego, Inc. Announces Series A Investment

Tego, Inc., a Waltham-based developer of high-memory passive RFID tag solutions, announced recently that it has closed a $6M Series A investment led by Bainco International Investors, an asset management and wealth advisory firm.

Tego will use the funds for development and commercialization of its solution that will be initially launched for the aerospace industry. "These funds provide the necessary resources to complete development and finalize product features for our end-users," said Timothy P. Butler, President and CEO of Tego. "We are gratified by the confidence, interest, and support shown by both our investors and the market."

Samuel Bain, Founder and Managing Partner of Bainco International Investors commented, "Once proven, we see tremendous market opportunity for high memory, passive RFID tag solutions. The aerospace industry is just the beginning. With the experienced team leading Tego we are confident they will be at the forefront in this newly emerging market."

"We are excited to have Bainco's confidence and support, and with this investment round, Tego is well-positioned to bring its innovative products to market over the next year," said Timothy P. Butler.

About Tego
Tego is a fabless designer and producer of high memory, passive RFID tag solutions that support applications in aerospace, defense, transportation, and other markets requiring storage, retrieval and management of large amounts of data and information on a passive tag. www.tegoinc.com

SOURCE: Tego, Inc.