Jul 29, 2014

August 23, 2005 09:00 AM Eastern Daylight Time BOULDER, Colo.--( BUSINESS WIRE )--Aug. 23, 2005--SkyeTek, Inc. today announced the close of its Series B financing, led by existing investor Appian Ventures and new investors Palomar Ventures and Sequel Venture Partners. Proceeds from the round will fund further research and development of its flagship ReaderWare(TM) suite, and significantly expand its sales and marketing reach. ReaderWare is an open-architected software suite that unlocks the traditionally black-box nature of RFID reader hardware. ReaderWare is available for both HF and UHF reader designs, including the SkyeTek M8 UHF reader module and its M1 series of HF reader modules. ReaderWare enables SkyeTek to work with OEM customers across all the stages of embedding RFID reader functionality, from the developer kit, through modules, to an integrated reference design and software license. "By creating a modular and horizontal platform that mitigates the cost and complexity of RFID reader hardware, SkyeTek and ReaderWare are a disruptive model for enabling the application of RFID technology to a far more varied set of vertical markets and customer problems," said Brian Garrett, a principal with Palomar Ventures and newly appointed director at SkyeTek. "SkyeTek is a revenue-stage company with a proven CEO at the helm and a true RFID visionary driving research and development," said Tom Washing, Partner at Sequel Venture Partners and newly appointed director at SkyeTek. "SkyeTek has made impressive progress to date in terms of customer wins and product development and this round will help them expand their opportunity and accelerate their efforts. " "The attention and much of the investment going into RFID has focused on the retail and military supply chains where RFID is leveraged similar to barcodes," said Mike Liard, RFID Practice Director, Venture Development Corporation. "While the supply chain opportunity is significant and interesting, the industry should also be looking beyond it to identify additional areas of growth. For instance, RFID is expected to expand into a wide range of embedded applications and environments where users consider low power, ease of integration, and the customizability of horizontal reader technologies to be critical. " "The closure of this financing represents both an acknowledgement of SkyeTek's current leadership position, which was achieved with limited financial resources, as well as a confirmation of our future potential," said Rob Balgley, CEO of SkyeTek. ReaderWare 1.0 is available immediately as a licensed development platform for new and existing OEM reader designs or for use with SkyeTek's small footprint, low power, Tagnostic(TM) reader reference designs. For more information on SkyeTek, Inc. or ReaderWare, visit www.skyetek.com or call 720-565-0441. About SkyeTek, Inc. SkyeTek, Inc., maker of ReaderWare(TM), is the leading supplier of RFID reader software and reference designs that enable the pervasive application of RFID technology. SkyeTek's Tagnostic (TM) reader technology works with most industry standard tags and smart labels, its low power requirements and a small form factor make it the optimal choice for embedding into new or existing RFID products. SkyeTek's RFID reader technology is available in several formats including reader modules, hardware reference designs, and the ReaderWare(TM) software suite. SkyeTek markets to OEM customers in targeted vertical markets with several high-volume licensing options available. SkyeTek is based in Boulder, Colo. For more information about SkyeTek, visit www.skyetek.com or call 720-565-0441. Contacts