g2 Microsystems Inc, an early stage fabless semiconductor company that is developing integrated circuits specifically for the active asset tracking and telemetry markets, today announced the closing of a $US6 million investment round with new investors Starfish Ventures and return backers DB Capital Partners, the private equity and venture capital arm of Deutsche Asset Management (Australia) Ltd.
John Gloekler, Chief Executive Officer and President of g2 Microsystems said, “We are pleased to have broadened our shareholder base to now include Starfish Ventures. This further investment round will enable g2 Microsystems to complete the development of its engineering samples and increase its customer development and support activities.&rdqua;
“g2 Microsystems’ world class team and strong technology position the company very well to cost effectively meet the growing market need for asset tracking solutions”, Malcolm Thornton of Starfish Ventures said. Mr Thornton has joined the Board of Directors of g2 Microsystems.
Matthew Koertge of DB Capital Partners, who also serves on the Board of g2 Microsystems commented, “g2 Microsystems has achieved a number of impressive technical milestones and has made significant progress with prospective customers since we invested in May last year.”
g2 Microsystems aims to be a leader in asset tracking technology by providing customers with a unique set of tracking capabilities not found in other location based services or telemetry solutions. These capabilities include: (1) indoor and outdoor asset tracking with high reliability, (2) low power consumption, (3) low total cost of ownership, (4) small form factor, and (5) high reliability.
These capabilities will allow customers to track valuable assets throughout the world and monitor their location and condition. g2 Microsystems is delivering these capbilities with its SmarTag solution: an intelligent tag that can be used at the person, asset, pallet, or container level to track its location; monitor its inventory and environmental conditions - including security sensors; store relevant data; and communicate all of its information tranparently to multiple parties over the Internet.
A number of the founders and engineers of g2 Microsystes were previously from Radiata, Inc, a successful Australian comapny that was acquired in late 2000 by Cisco Systems, Inc.
For further media information contact:
John Gloekler, CEO
G2 Microsystems Inc
408 Euclid Ave
Oakland, California 94610