Raises funds to capture market share with apps to track and manage physical assets; rebrands to new name Fluensee
Englewood, CO June 5, 2006 Applied Logistics has completed Series A financing led by IllinoisVENTURES with an eye toward using the new funds to capture a greater share of the rapidly growing market for radio frequency identification (RFID)-enabled applications that track and manage the physical movement of assets and inventory.
Applied Logistics also announced that it will be operating under a new name, Fluensee, in support of the company's strategy to extend beyond its current transportation and logistics industry focus. Fluensee said it would expand into additional markets that are faced with a growing need to gain improved control and visibility over their assets.
"Companies today are faced with increased pressure to reconcile physical assets with corporate financial records," said Tim Harvie, Fluensee president and CEO. "Fluensee is uniquely positioned to help its customers realize the value of RFID by gaining better visibility, control, security and utilization of their physical assets."
Harvie suggested that his company's partnerships with IllinoisVENTURES and such technology and service providers as Sun Microsystems would allow Fluensee to accelerate sales growth and expand its intellectual capital/
"We believe real-world experience coupled with our access to the R&D capabilities of the University of Illinois creates the foundation for establishing Fluensee as the leader in applying RFID technology to asset-intensive business processes," Harvie concluded.
IllinoisVENTURES acts as the general partner of the Illinois Emerging Technology Fund, an early stage, technology-focused venture capital fund, and as the fulfillment partner for the Chicago and Illinois Technology Enterprise Centers (Illini-ITECs) on behalf of the Department of Commerce and Economic Opportunity of the state of Illinois.
Additional Articles of Interest
Stryker Instruments achieved success in inventory optimization by taking a no-frills approach and relying on collaborative supplier relations. Read more in "Keeping Supply Chain Transformation Simple," the Best Practices case study in the April/May 2006 issue of Supply & Demand Chain Executive.
As you read this, someone in your corporation is treading the ethical line because of expediency, undue pressure or because they don't know better. How can we protect our organizations from flawed reciprocal business awards, conflicts of interest and a myriad of other issues? Read more in "Ethics and Procurement: The Case for Full Disclosure," the Final Thoughts column in the April/May 2006 issue of Supply & Demand Chain Executive.
Englewood, CO June 5, 2006 Applied Logistics has completed Series A financing led by IllinoisVENTURES with an eye toward using the new funds to capture a greater share of the rapidly growing market for radio frequency identification (RFID)-enabled applications that track and manage the physical movement of assets and inventory.
Applied Logistics also announced that it will be operating under a new name, Fluensee, in support of the company's strategy to extend beyond its current transportation and logistics industry focus. Fluensee said it would expand into additional markets that are faced with a growing need to gain improved control and visibility over their assets.
"Companies today are faced with increased pressure to reconcile physical assets with corporate financial records," said Tim Harvie, Fluensee president and CEO. "Fluensee is uniquely positioned to help its customers realize the value of RFID by gaining better visibility, control, security and utilization of their physical assets."
Harvie suggested that his company's partnerships with IllinoisVENTURES and such technology and service providers as Sun Microsystems would allow Fluensee to accelerate sales growth and expand its intellectual capital/
"We believe real-world experience coupled with our access to the R&D capabilities of the University of Illinois creates the foundation for establishing Fluensee as the leader in applying RFID technology to asset-intensive business processes," Harvie concluded.
IllinoisVENTURES acts as the general partner of the Illinois Emerging Technology Fund, an early stage, technology-focused venture capital fund, and as the fulfillment partner for the Chicago and Illinois Technology Enterprise Centers (Illini-ITECs) on behalf of the Department of Commerce and Economic Opportunity of the state of Illinois.
Additional Articles of Interest
Stryker Instruments achieved success in inventory optimization by taking a no-frills approach and relying on collaborative supplier relations. Read more in "Keeping Supply Chain Transformation Simple," the Best Practices case study in the April/May 2006 issue of Supply & Demand Chain Executive.
As you read this, someone in your corporation is treading the ethical line because of expediency, undue pressure or because they don't know better. How can we protect our organizations from flawed reciprocal business awards, conflicts of interest and a myriad of other issues? Read more in "Ethics and Procurement: The Case for Full Disclosure," the Final Thoughts column in the April/May 2006 issue of Supply & Demand Chain Executive.
