Vivotech completes new funding round

Vivotech has completed a Series D funding round, bringing the total the NFC and contactless specialist has raised to date to US$96m.


New sales figures for the company’s POS terminal business have also been released. Vivotech has now shipped nearly one million NFC payment readers to 328 customers in the United States and 181 customers internationally, accounting for well over half of all installed NFC readers globally, the company says.

“Companies across the m-commerce ecosystem are racing to capture their share of what is expected to be a massive opportunity,” says Mick Mullagh, Vivotech’s executive chairman. “This is driving strong demand for our software and systems. With this latest financing, we’re armed to extend our leadership position providing the infrastructure needed to deliver on the promise of m-commerce.”

Vivotech’s investors include Alloy Ventures, Citi Ventures, Draper Fisher Jurvetson (DFJ), EDBI (Singapore), First Data Corporation, Miven Ventures, Motorola Solutions Ventures , Motorola Mobility Ventures, Nokia Growth Partners, NCR, SingTel Innov8, and Sprint.

The company raised $24m in its last round of funding, in June 2011.

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