Aeroscout Secures $16M in VC Funding

AeroScout announced yesterday that it has secured $16 million in venture financing to capitalize on the strong demand for its Real-Time Location System (RTLS) and to continue to accelerate the adoption of its Wi-Fi RFID solutions. New investor Evergreen Venture Partners led the round, and all of AeroScout’s existing investors – Cisco, Greylock Partners, Intel Capital, Menlo Ventures, Pitango Venture Capital and Star Ventures – participated in the current round of funding. The proceeds will be used for market expansion, including sales and marketing growth, and to continue broadening and enhancing AeroScout’s solution portfolio. More here.

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