Vivotech Inc., a Near Field Communication software and systems company, has received $24 million in funding to expand beyond the 35 countries where its products are now used, the Santa Clara, Calif.-based company announced June 27.
Vivotech’s products support in-store payment, loyalty, marketing and merchandising, the company said in a press release. The company provides building blocks of the NFC system that include smart applications for enhancing the customer experience, wallet and trusted-service manager software and point-of-sale systems, the release said.
The round of fund-raising attracted new investors, such as Singapore’s Economic Development Board, SingTel Innov8 Pte. Ltd. and Motorola Solutions Venture Capital. Vivotech’s previous investors also contributed, and they include Alloy Ventures Inc., Citi Ventures, Draper Fisher Jurveston, DFJ Gotham Venture, First Data Corp., Miven Ventures, Motorola Mobility Inc., Nokia Growth Partners and NCR Corp.
“Our investors represent a mini NFC ecosystem,” Vivotech CEO Mick Mullagh said in the release. “By collaborating with them and our partners and customers, we will stay on the leading edge of innovation and the development of merchant and consumer friendly applications.”
