With the IPO window closed for the foreseeable future, radio-frequency ID chipmaker Alien Technology has returned to its private investors for yet another round of venture funding, adding another $38 million to its till on top of at least $258 million in existing capital. Stakeholders including Advanced Equities, New Enterprise Associates, Rho Ventures and Sunbridge Partners ponied up the new money, which comes two years after Alien canceled a proposed IPO.
Founded in 1994, the Morgan Hill, Calif.-based Alien develops low-cost RFID tags and readers used in asset tracking and inventory management. The company filed for a $108 million offering in April 2006 that would have valued the company at more than $500 million, but scuttled the offering in August 2006.
The same four investors supplied $33 million to Alien in April 2007. Sevin Rosen Funds and CMEA Ventures have also invested in Alien in the past, but were not named as investors in either of the two latest rounds. Alien says it expects revenues in its recently completed fiscal year to have increased by more than 50% over fiscal 2007. -- Paul Bonanos
See press release from Alien Technology
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