Altierre raises $17M to push wireless infrastructure for retailers
Altierre, a San Jose provider of wireless infrastructure for retailers, said it has raised $17 million in a second round of financing led by the D. E. Shaw group.
DuPont Capital Management and existing investors ATA Ventures, Kinetic Ventures and Labrador Ventures, also invested. The funding follows a $13 million first round in January 2005.
Retailers are experiencing a revolution in wireless technology, the company said in a statement. Low-power chips, long-range RFID-based wireless networks and enterprise software are creating the biggest changes for retailers since the introduction of the bar-code 30 years ago, said Andre Turenne, a senior vice president at the D. E. Shaw group.
From the statement:
Altierre’s proprietary hardware and software platform features low-cost, long-range RFID technology and back-end data-management capabilities that efficiently deliver real-time, chain-wide dynamic pricing and shelf promotions, improve price accuracy, sharply reduce labor costs and enable targeted communications with customers and employees. Electronic shelf labels, point-of-purchase messaging and a range of other functions have been built into the company’s unified platform.
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