RFID co., Alien, aiming for $50M more to get out of hole
Alien Technology, the Morgan Hill radio frequency identification technology (RFID) company that withdrew a planned IPO last August, is aiming to raise up to $50 million, in another round of capital.
Mark Perry, a general partner with New Enterprise Associates and an Alien Technology board member, confirmed the plans with VentureWire (sub required).
This is a high-risk bet, because the company is losing piles of money on every sale, and doesn’t have a firm leader — it lost $53 million last year and has already chomped through $243 million of venture money.
A regulatory filing indicates that the company has raised $15 million of this latest, ninth round of venture capital — from existing backers including CMEA Ventures, Rho Ventures, SunBridge Partners and Advanced Equities Venture Partners, VentureWire said.
Finally, it has been hit by a patent infringement lawsuit from Intermec.
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