PervasID, a global market leader in fixed passive RFID technology, has secured a further £200,000 investment from Maven Cognition, marking another milestone in its global growth strategy.
The funding will accelerate the global rollout of PervasID’s TrackMaster solution, with a keen focus on US markets.
Peter Oram, CEO of PervasID, welcomed the investment, saying: “The growth we’ve experienced in recent years is a testament to our market-leading innovation. Our 2024 investment round, which secured over £3 million, is already taking the business to the next level as we continue with the global rollout of TrackMaster. We’ll be using this latest investment to continue our growth plans and to maximise the opportunities in the UK and US where we are seeing fast-paced adoption of TrackMaster.”
The funding will support PervasID’s continued expansion and help meet increasing demand from major clients in retail sectors. Additionally, it will enhance research into advanced software solutions in data analytics, complementing the company’s industry-leading RFID hardware.
PervasID, founded in 2011, has continued to develop market leading technology that sets new industry standards for accuracy and range. The company is the first in the market to offer remote tracking capabilities with near 100% accuracy and cost-effectiveness, delivering real-time location solutions to global clients in retail, healthcare, logistics and aerospace.
Richard Male, Managing Director at Maven Cognition, said “We are pleased to support PervasID through our first EIS fund. The company is a strong example of the type of innovation-led business we seek to back – with proven technology, growing commercial traction, and clear international opportunity. We look forward to working with the team as they continue to scale.”