Hyderabad Angels Invests Rs 2Cr in RFID Maker Identis
Hyderabad Angels, a city-based group of angel investors also backed by The Indus Entrepreneurs Hyderabad, has announced an investment of Rs 2 crore in an RFID company, Identis Private Limited. Identis Private Limited, which develops custom RFID chips for the manufacturing industry, was founded in 2010 by Suresh Lingamaneni and Sanjay Panda.
The company offers automatic identification products and solutions for various industry applications and specialises in RFID, biometrics, GPS, modules for manufacturing plants.
"Hyderabad Angels is a bridge between investors and entrepreneurs, building the entrepreneurship ecosystem in the city",said Mr. Lakshmi M Kodali, principal spokesperson, Hyderabad Angels and Managing Partner, LAD Solutions LLC. Hyderabad Angels will look at typically investing in the sub-Rs 3 crore range in early stage deals.