An award-winning RFID (Radio Frequency Identification) technology provider has announced the launch of its new product, Multi-Ranger. PervasID secured £1.6 million in Series A funding earlier this year to create the first 99%+ accurate multifunctional RFID reader to address retailers’ challenges concerning inventory.
The technology, which was pioneered at the University of Cambridge and achieves more than 99% tag detection, will combine a wide-area passive RFID system (Space Ranger), an anti-theft RFID system (Security Ranger) and a portal system (Portal Ranger) in order to create the multifunctional reader solution that is the first of its kind.
The new solution allows retailers to use a single RFID reader to cover back storage area, sales area inventory and exit/entrance anti-theft solution, as well as any transition portals that may be required, at a 50% of the cost of using independent disparate systems. This cost saving element to the reader, along with its impressive accuracy, makes the reader revolutionary in the market.
“RFID technology is not new to the retail market, it has long promised but not delivered benefits. The business case for widespread use of the technology beyond security has been insufficient for many companies to make the investment. With a reader of this nature, retailers can embrace the benefits of RFID technology with a relatively low cost investment and a quick implementation time, revolutionising the way they manage their inventory,” said Dr Sabesan Sithamparanathan, co-founder and CEO of PervasID.
“For RFID technology to bring real benefit to retailers, it must drive sales, deliver improved operational efficiency and increase revenue while requiring modest investment. At PervasID we are really proud to be working on technology that does just that,” he continued.
PervasID is a leading RFID technology company based in Cambridge, UK. Over the last ten years it has pioneered the development of ground breaking patented RFID innovations based on original research undertaken by the University of Cambridge.