Square 1 Bank is providing a $5 million debt facility to new, San Jose-based client, Kovio, Inc., whose investors include Kleiner Perkins Caufield & Byers, DAG Ventures, and Tyco, among others. Proceeds of the credit facility will be used to support the company’s growth.

Kovio’s innovative high-performance printed silicon manufacturing platform enables scalable item-level Near Field Communication (NFC) technology for branded product and retail markets. Kovio’s recently released Electronic Article Surveillance (EAS) product improves the retail experience for shoppers while enhancing loss prevention for retailers. Its soon to be released NFC BarcodeTM products enable real-time, customizable interaction between consumers, brands, and retailers.

“We are excited to support Kovio. We believe the company is well positioned to take advantage of a large and growing market opportunity by solving economic and technological challenges to bring item-level intelligence to reality,” said Andy Weyer, vice president of Square 1 Bank.

Sam Bhaumik, executive vice president in Square 1's Silicon Valley office, added “with an experienced management team at the helm and a group of prominent investors standing behind them, we believe that Kovio is poised for success and will revolutionize the shopping experience. We are proud to include Kovio as a member of the Square 1 Bank family.”

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion.