PervasID cites growing traction for RFID innovation
PervasID, based at St John’s Innovation Centre, has entered the Disruptive Technology category of the Business Weekly Awards as it increasingly commercialises Cambridge University RFID Intellectual Property.
PervasID boss Sabesan Sithamparanathan claims the company’s technology provides ‘world first’ near 100 per cent accurate, wide-area, battery-less radio frequency identification (RFID) tag tracking end-to-end solution for retail, healthcare and security applications.
Over the last few years it has pioneered the development of groundbreaking, award winning patented RFID innovations based on original research undertaken by the University of Cambridge.
PervasID says its tracking technology has been proven to outperform all other passive RFID systems on the market with 99 per cent+ detection accuracy being achieved.
It adds that the game-changing technology is now deployed all over the world in retail, health and security applications by such major brands as Marks & Spencer Plc, Dixons Carphone, Decathlon and Addenbrooke’s Hospital in Cambridge, to name just a few.
The potential of the business, spun out from the university’s engineering department, was underlined in October 2016 when it secured £720k investment from Cambridge Enterprise, the University of Cambridge Enterprise Fund IV, managed by Parkwalk and Cambridge Innovation Capital together with a private investor.
PervasID was founded in 2011 by Dr Sithamparanathan, Dr Michael Crisp, Professor Ian White and Professor Richard Penty.
A study published by Cambridge strategy business IDTechEx predicted that the RFID reader market would grow from $2.5 billion in 2015 to $7.5bn in 2020.
Dr Sabesan said: “Our investors bring not only funding but also complementary skills and expertise. This funding enables us to take the business to the next level and to deliver on short term sales opportunities.”
Elaine Loukes, investment manager at Cambridge Enterprise, said at the time of the funding round: “PervasID has made very impressive technical and commercial progress to date borne out by its current high level engagement with major high-street retailers. With these funds, we believe the company will be able to accelerate its sales pipeline whilst developing its next-generation products.”
Victor Christou, CEO of Cambridge Innovation Capital added: “Low cost, long distance sensing of passive RFID tags has long been an unmet need in the retail and logistics industries.
“PervasID addresses this need and represents another fundamental technology game-changer emerging from the University of Cambridge.”
• PHOTOGRAPH SHOWS: Sabesan Sithamparanathan, co-founder and CEO of PervasID