AXCESS International Closes On $2.3 Million in Equity Financing

Amphion Innovations is lead investor in round earmarked for disruptive RFID product development


DALLAS - AXCESS International Inc., a leading provider of Radio Frequency Identification (RFID) and Real Time Location Systems (RTLS), today announced closing on a $2.3 million equity financing led by Amphion Innovations plc.

The total raised includes $813,000 announced December 30, 2005 as the first phase of the funding. Amphion Innovations plc provided $1.25 million of the total amount raised. In addition, the company received $600 thousand from the sale of non-core patents. The funds are to be used in part to complete the development of a new RFID product designed to further exploit AXCESS' existing markets utilizing asset, personnel, vehicle, sensor tagging. New markets are also targeted where RFID's adoption rate has been exemplary.