WASHINGTON (dpa-AFX) - Identiv, Inc. (INVE), a leader in RFID and BLE-enabled IoT solutions, has announced a strategic partnership with Tag-N-Trac, an IoT platform provider for real-time supply chain tracking.
The collaboration aims to develop and market advanced IoT solutions for cold chain monitoring in the pharmaceutical sector.
The partnership integrates Identiv's BLE smart labels with Tag-N-Trac's RELATIVITY SaaS platform to offer item-level visibility, real-time data, and traceability from warehouse to delivery. The platform monitors environmental conditions like temperature and humidity, helping maintain the safety and compliance of sensitive pharmaceutical products.
Identiv's CEO, Kirsten Newquist, emphasized the growing need for real-time data in pharmaceutical logistics due to regulatory and safety concerns. She noted the collaboration enables smart, scalable IoT solutions tailored to meet strict compliance standards while improving efficiency.
Tag-N-Trac CEO Venu Gutlapalli highlighted the complexity of cold chain logistics and said the joint solution offers pharmaceutical firms reliable tools for managing high-value, temperature-sensitive products like vaccines and biologics.
The partnership underlines both companies' shared goal of enhancing the pharmaceutical supply chain through innovative IoT technologies.
Thursday, INVE closed at $3.21, up 1.26%, and is currently unchanged in after-hours trading on the Nasdaq Capital Market.
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