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U Grok It Raises $200k in Seed Funding
By: U Grok It
U Grok It® raises $200,000 in seed funding
- STEAMBOAT SPRINGS, CO, March 29, 2013 -- U Grok It, Inc. creators of SmartPhone RFID, announced the closing of their seed funding round today, with the completion of a $200,000 convertible note by five angel investors. This investment allows U Grok It to deploy approximately 20 demo units for customer and partner testing and begin taking pre-orders.
U Grok It brings the RFID that is currently being used in the supply chain to small and medium sized businesses to more effectively and efficiently manage their business. U Grok It simplifies locating, identifying, tracking and inventory management using Gen 2 UHF RFID; a technology that, until now, has been expensive and complex for businesses to implement. With U Grok It, inventory can take minutes instead of days, equipment can tell you the maintenance it needs, and you can find the exact thing you need right when you or your customer need it.
U Grok It is the only UHF Gen 2 RFID system that works on the iOS and Android devices on which businesses are standardizing.
The announcement of seed funding puts U Grok It in an exclusive group of startups, as typically only 1%-4% of startup companies ever succeed at raising investment capital. "Completing this round of funding is another vote of confidence that U Grok It will succeed," said Carrie Requist, Co-Founder and CEO of U Grok It, “There is a buzz happening with RFID, and U Grok It’s simple, yet elegant, solution allows RFID to dramatically expand into new business markets.”
About U Grok It
U Grok It is Smartphone RFID that lets businesses manage their stuff. We take the standard UHF Gen 2 RFID that revolutionized the supply chain and make it accessible and affordable for all businesses. U Grok It includes the grokker hardware that attaches to any iOS or Android device, the U Grok It application, cloud-based backend and development system that lets mobile developers quickly and easily add RFID functionality to their products. U Grok It was founded in 2011 by husband and wife team of Carrie and Tony Requist and has offices in Steamboat Springs, CO and San Francisco, CA.
Product images, specifications, videos and management team head shots are available at the U Grok It website: http://ugrokit.com/