Steamboat’s U Grok It closes funding round
May 5, 2014
Steamboat Springs — Steamboat's U Grok It recently closed a round of angel funding for $600,000, according to a news release.
The smartphone radio-frequency identification company completed a convertible note through the Foundry Group's FG Angles syndicate on AngelList.
The release states that this funding will allow U Grok It to move forward with production, sales and marketing.
"This funding demonstrates the power of U Grok It to change the face of RFID (radio-frequency identification)," CEO Carrie Requist said in the release. "Businesses want our affordable and easy to use solution for inventory and asset management, and we are excited about our upcoming product launch."
The U Grok It system comes with the reader device, complete development system and a fully functioning application. The system allows users to tag items, input data, attach photos and store data in the U Grok It cloud, according to the release.
The release states that the initial run of U Grok It readers is scheduled to be available this summer. Orders are now being accepted through its sales team and online at http://www.ugrokit.com.
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U Grok It was founded in 2011 by Carrie and Tony Requist. The company has offices in Steamboat Springs, San Francisco and Seattle.