According to the Wall Street Journal, Kovio Inc., a Milpitas, Calif.-based RFID tag manufacturer, has landed $20 million in Series E financing from several firms including Bessemer Venture Partners and Kleiner Perkins Caufield & Byers.
Kovio, which was founded by scientists in the MIT Media Laboratory, creates its unique low-cost tags using printed silicon electronics and thin film technology.
Kovio plans to use the funding to produce its tags in bulk, and in so doing bring down the cost of a single RFID tag to just one cent.