Omni-ID Secures $15 Million in Funding
Tag maker Omni-ID has announced its securing of another round of venture capital. The Foster City, Calif., company raised $15 million in a Series C Round, solely funded by U.K.-based CodyGate Ventures. Omni-ID indicates it plans to use the funds to ramp up its sales and marketing efforts, increase its manufacturing capacity and boost its expansion into the Asian market. Moreover, the company says it wants to ensure that it will be able to meet its increasing order volume. "As we move into 2009, we will leverage this round of funding to continue meeting our customers' needs, while expanding our presence into new markets, such as Asia," said Tom Pavela, president and CEO of Omni-ID, in a prepared statement. "We are confident that this year will continue the upward growth of our company."