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Seattle-based chip-builder Impinj to announce $26.5 million capital-funding deal
Seattle-based Impinj http://www.impinj.com , which builds chips that help track merchandise, is expected to announce a Wal-Mart-sized round of venture capital today.
The company said it has secured $26.5 million in funding, Washington’s third-largest deal this year. So far, Impinj has raised $75 million since it was founded in 2000.
Impinj started out building a chip with analog and digital components that were nonvolatile — meaning the chip could store small amounts of information without a power source.
Three years ago, it decided to apply that technology to the business of RFID, or radio frequency identification. Instead of manually scanning barcodes, as retailers do today, the technology allows a pallet of boxes bearing RFID chips to pass through a warehouse reader to instantly reveal content information.
The bet is paying off.
By Tricia Duryee
Seattle Times technology reporter
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