Aditya Birla's Minacs has acquired Radifinity Information Systems Pvt Ltd for an undisclosed amount after which the company will continue to operate as a separate entity.

Radifinity was incubated in 2008 at the NS Raghavan Centre for Entrepreneurial Learning, IIM Bangalore, founded by Jay Krishnan , Dhananjay Shukla, Subra Chandramouli , who were earlier working with companies such as Cisco, Juniper Networks, Nortel and Intel.

The company provides technology solutions in areas of warehouse management, retail management, library management, healthcare and asset tracking management using RFID, smart cards, GPS and GPRS.

In FY09, the company incurred a loss of Rs 4.14lakhs as against a loss of Rs. 0.59 lakhs in the previous year.

NSRCEL was set up in March 2002 in IIM-B by N.S. Raghavan who is a founder and former joint MD of Infosys. It is currently incubating start-ups like craffitti (innovation consulting firm), just books (a library) and Fleet Xchange ( a market platform for transportation industry).

Mango Technologies is one of its former incubatees in which Ojas venture partners had invested less than $1mn in December 2007 and exited earlier this month with an estimated IRR of 75%. Mango technologies had sold its handset user interface software with a PC-based customization kit to Qualcomm which provided an exit to Ojas.

In November 2009, IIM-B had set up another independent and not-for-profit entity-IIMB Innovations to raise funds for incubating startups.The new entity takes a 5% stake in all startups that were incubated by IIM-B post April 2009.

RFID space in India has been much talked in the last couple of years. In 2007, the technology was adopted by HPCL for LPG Cylinder tracking, Vehicle tracking by Rashtriya Ispat Nigam and Indian Airlines asset tracking. According to IDtechEX, the market size of RFID was estimated at $4.96bn in 2007 and projected to grow to $26.88bn by 2017.

Gemini traze RFID pvt. ltd is one the of first companies in India to manufacture and market RFID based readers.

Aditya Birla Minacs was formed by Minacs- canadian BPO company and Transworks- the BPO arm of Aditya Birla group. Its clients include Idea Cellular and Birla Sunlife. It provides solutions in finance and accounts outsourcing, marketing solutions, CRM and IT Infrastructure management. Last month, Aditya Birla Minacs Worldwide Ltd, raised Rs 250cr through issue of CCDs through private placement with a maturity of 5 years.

Indian Companies in RFID Space

Reference: ET

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