Battelle Ventures invests in Hi-G-Tek
Developer of active-RFID security solutions a good investment for Battelle; Hi-G-Tek technology secures cargo, monitors temperature; system ideal for vaccine industry
Locking up an investment. Battelle Ventures, a Princeton, New Jersey-based venture capital fund, knows a good investment when it sees one. In 2004 it invested $3 million in SafeView, a provider of security systems and portals that rely on low-power active millimeter wave technology to detect weapons and explosives. Two years later the company was sold to industry giant L-3 for an undisclosed, but presumably healthy, price. This week Battelle announced another dip in the homeland security pool, joining a $10 million investment project with L Capital Partners to finance Rockville, Maryland-based Hi-G-Tek. The company provides active-RFID products for monitoring high-value physical assets, especially in the cargo industry.
Hi-G-Tek likes to say that it “not only detects ‘where’ an asset is, but also detects ‘how’ that asset is
