QuantumID plans RFID solution for pharma sector

Pune: QuantumID Technologies, player in the RFID segment, would be coming out with an RFID solution for the pharmaceutical sector within four months. The product would be developed at its research and development centre in Pune, Dr Rory O' Connor, Chief Technical Officer, QuantumID, said here.

He noted that the company would be looking at the area of pharmaceutical ePedigree and anti-counterfeiting solutions. Talking to presspersons, he said the company was looking at providing direct solutions to the needs identified by the industry.

Posing Challenges


He pointed out that counterfeiting of pharmaceutical drugs has become a $500-billion per year problem and has posed challenges to manufacturers, suppliers and consumers. The products have a bigger market in the US.

Mr Milind Tavshikar, Chief Executive Officer, QuantumID, said the company would be focussing on solution for four verticals: retail, pharmaceuticals, defence and the automobile segment.

He noted that there was high potential in the automobile segment especially when visibility and productivity turnover had to be increased.

He said that it was very difficult to track down the automobile in the assembly chain, when it became a part of the paint shop.

With the RFID tags, it could be easily identified and located any time.

He noted that the RFID last year was a $3 billion market. It included smart cards, access cards, hardware, software, embedded systems etc, he noted.

Planning Investment


He said the development centre, which began its operations in Pune in January this year, has a staff strength of about 15 people and is spread over 4,500 sq ft.

He said QuantumID was planning an investment of over $1 million in the next two years in expanding its facilities in India.

The other locations where it was targeting to set up offices included Singapore and Europe, which would happen in the next one-year and a sales office in the US.

The company has been funded by a private equity partner from New York called Ron Tellis. He added that the company was also looking for a second round of funding.