# Skyetek

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/skyetek

- Industry: Software
- Headquarters: Denver, US
- Website: www.skyetek.com
- Total disclosed funding: $18M
- Latest round: Series C (Jul 25, 2007)
- Investors on record: 5

## About

Skyetek, Inc. specializes in high-performance RFID solutions designed to enhance asset tracking and identification across various industries, including healthcare and logistics. The company focuses on delivering innovative technologies to improve operational efficiency.Skyetek, Inc. develops advanced RFID technology for tracking and identification, primarily serving the healthcare and logistics sectors. In December 2015, GSI Group acquired Skyetek's assets for USD 2.6 million in cash. The company is based in Denver, US, and was founded by individuals with prior experiences in technology ventures. The latest funding round was a Trade Sale in which GSI Group was the investor, and the total amount raised by the company is USD 2.6 million.Skyetek offers a range of RFID products designed for efficient asset tracking and inventory management. Its solutions include RFID modules, readers, and related technologies that cater to healthcare, manufacturing, and logistics industries. The company's products are utilized globally in North America, Europe, and Asia, focusing on solutions for hospitals, laboratories, and logistics providers to enhance operational accuracy and compliance with industry standards.Skyetek operates on a business-to-business model, generating revenue through the sale of its RFID products to original equipment manufacturers (OEMs) and end-users. Revenue streams include hardware and software sales, along with service agreements and maintenance contracts. Key products, such as RFID modules, play a critical role in fulfilling the needs of clients for reliable tracking solutions.Skyetek plans to enhance its product offerings by developing new RFID technologies aimed at improving asset tracking efficiency. The company is targeting expansion into new markets, specifically in Europe and Asia, by the end of 2023. The recent funding from GSI Group will support these initiatives, allowing Skyetek to invest in research and development for innovative solutions and to establish a stronger market presence.

## Funding rounds

- Series C, Jul 25, 2007, $10M — Grotech Ventures, Sequel Venture Partners, Palomar Ventures, Appian Venture Partners, TDF Ventures
- Series B, Aug 23, 2005, $8M — Sequel Venture Partners, Palomar Ventures, Appian Venture Partners

## Investors

- Sequel Venture Partners (https://capitalatlas.ai/funds/sequel-venture-partners) — Series B, Series C
- Palomar Ventures (https://capitalatlas.ai/funds/palomar-ventures) — Series B, Series C
- Appian Venture Partners (https://capitalatlas.ai/funds/appian-venture-partners) — Series B, Series C
- Grotech Ventures (https://capitalatlas.ai/funds/grotech-ventures) — Series C
- TDF Ventures (https://capitalatlas.ai/funds/tdf-ventures) — Series C