/24-7PressRelease/ - April 19, 2008 - The Mu-Gahat Group ("Mu-Gahat") announced today that it raised $8 million in second round (Series B) equity financing to commercialize its patent pending RFID process technology. The Series B investor syndicate was advised by Cloverleaf Ventures LLC, a privately held alternative investment firm primarily focused on investment opportunities in the healthcare, life sciences and technology sectors.
The Silicon Valley based RFID antenna & inlay manufacturer plans to use the funds to expand production capacity, increase sales and marketing activities and extend its technology into additional application areas. Mu-Gahat recently announced the startup of its custom RFID design, prototyping, and low volume production service.
About Mu-Gahat
Mu-Gahat is the precision prototyping and low-volume production RFID specialist featuring in-house custom RF Antenna and Inlay design capabilities for label converters, system integrators, design engineers and end users. Using a patent-pending laser production system, proprietary design software and Muhlbauer FCM 10000 flip chip equipment, the company provides up to five simultaneous "variations on a theme" for test, enabling faster time to market by providing the ability to quickly create prototypes and validate pilot runs. Mu-Gahat's US-based production lines enable customers to do economical runs of as little as 150 units up to 2 million units. Mu-Gahat also provides stock RFIDs. "Mu-Gahat" comes from the Native American Washoe tribal word for "bridge", building a bridge between customers' ideas and their realization. Mu-Gahat is a Native American Minority Business Enterprise ("MBE"), certified by the National Minority Supplier Development Council (NMSDC), enabling government and commercial buyers to recognize additional potential benefits. For more information, visit http://www.mugahat.com , email info@mugahat.com, or call 408 702 1800.
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