# ThingMagic

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

- Industry: Media
- Headquarters: Cambridge, US
- Website: www.thingmagic.com
- Total disclosed funding: $10M
- Latest round: Series A (Sep 1, 2005)
- Investors on record: 4

## About

ThingMagic, Inc. specializes in RFID technology solutions, enabling businesses to enhance operational efficiency through advanced tracking systems and real-time inventory management.Founded in 2000 in Cambridge, US, ThingMagic, Inc. develops RFID technology solutions aimed at improving asset tracking and management. The company was acquired by Trimble Navigation Limited in October 2010, although specific financial terms of the transaction have not been disclosed. Prior to the acquisition, the company had engaged in six funding rounds, culminating in a significant investment of USD 9.50 mn from notable investors including 406 Ventures and 5Y Capital.ThingMagic specializes in RFID technology solutions designed for various industries, including healthcare and retail. Their offerings include advanced RFID modules that enhance inventory management and operational automation, enabling businesses to track and manage assets efficiently. The technology aims to improve processes such as asset tracking and inventory control, catering to a diverse client base that includes medical facilities and retail organizations across North America, Europe, and Asia.ThingMagic generates revenue primarily through B2B transactions, focusing on direct sales of their RFID technology solutions to healthcare providers and retailers. Their business model includes partnerships with original equipment manufacturers (OEMs) for technology integration, and pricing models are customized to meet client needs, often combining software subscription services with hardware sales. Flagship products, such as the ThingMagic RFID modules, are integral to their revenue strategy, supporting ongoing client relationships through tailored integration and support services.Looking forward, ThingMagic plans to leverage its recent funding of USD 9.50 mn to develop new RFID product lines that are anticipated to launch by the end of 2023. The company is also focusing on expanding its market presence into Asia and Europe to capitalize on the growing demand for RFID technology in those regions. The recent acquisition by Trimble Navigation Limited in October 2010 positions ThingMagic to utilize additional resources for facilitating this expansion and enhancing product development initiatives.

## Funding rounds

- Series A, Sep 1, 2005, $10M — Exxel Group, 5Y Capital, Inventec Appliances Corp, Top Line Growth Capital

## Investors

- Exxel Group (https://capitalatlas.ai/funds/exxel-group) — Series A
- 5Y Capital (https://capitalatlas.ai/funds/5y-capital) — Series A
- Inventec Appliances Corp — Series A
- Top Line Growth Capital — Series A