Alien Technology Corporation Receives $18 Million in Funding: "Alien Technology Corporation Receives $18 Million in Funding

MORGAN HILL, Calif.--(BUSINESS WIRE)--April 5, 2004--Alien Technology Corporation announced today the closing of its latest round of financing. The round, which was led by Advanced Equities Inc., totaled $18 million.


In addition to Advanced Equities Inc., Lago Ventures Fund and Forsythe Technology made major investments in this round of funding. A new strategic investor, Datalogic, a leading supplier of barcode technology, also participated. 'We are very pleased with this additional financing,' said Stav Prodromou, Chief Executive Officer. 'The funding will reinforce Alien's already strong financial footing such that we can be even more aggressive in our pursuit of the expanding opportunities in the RFID market,' Prodromou added.
This round brings the total equity financing for the company to $143 million. Prior financing has allowed the Company to bring into production its patented manufacturing process, Fluidic Self Assembly(R), and to develop industry leading RFID chips, tags and readers.
Tom Baruch, Chairman of Alien Technology(R), commented, 'The Company's ability to secure this significant round of financing represents the investment community's endorsement in Alien's technology and its position in the RFID market.' "