Reva RFID Funding Growth

Reva Systems closes $5 million round of new venture capital funding and appoints new CEO. The company continues to experience growth in the RFID market during this challenging period in the business cycle. ...

... "Reva’s $5 million round was led by existing investors North Bridge Venture Partners and Charles River Ventures, both original backers since the company’s founding in 2004. The funds will be primarily used to expand Reva’s worldwide network of resellers and solution partners and drive new product offerings based upon its proven TAP technology. While companies around the globe are experiencing tough business conditions, Reva continues to see strong adoption and expanding use cases from existing and new customers for its UHF RFID solutions in 2009. Assuming responsibility from acting CEO and co-founder Ashley Stephenson, Bruce Berger joins Reva as the company’s new CEO. " ...

Via Reva Systems: $5 Million Funding

WalMart RFID Technology Expansion Continues Per CIO

Executive Vice President and CIO Rollin Ford describes WalMart's plan to continue implementation of RFID technology in a keynote speech at the RFID Journal Live conference in Orlando, Florida. ...

... "WalMart Stores continues to expand its RFID capability to additional facilities, enabling an additional 400 WalMart stores by the end of this fiscal year, WalMart Executive Vice President and CIO Rollin Ford said in a speech Monday. Ford also discussed the technology's current and future benefits to both business and consumers including broad benefits for improving sustainability. He said current benefits include a 30 percent reduction of out-of-stocks, reduction of excess inventory in the supply chain, and sustainability impacts. Ford also outlined advancements including pallet locators now being used at Sam's Club locations. On a daily basis, more than 24 million people shop our stores. If 100,000 extra trips are avoided by having items in stock, we will save customers $22.8 million a year in gas savings and reduce greenhouse gases by 80,209 metric tons. " ...

Via WalMart: WalMart Continues RFID Technology Expansion