Primo1D has raised Series C equity funding. French Sovereign Fund Bpifrance SPI (Société des Projets Industriels) led the new equity raised alongside a new VC investor Innovacom and other existing shareholders BNP Paribas Développement, Kreaxi and UI Investissement.
Primo1D, based in Grenoble, France, develops a highly innovative and patented RFID tag in a proprietary and unique form factor – a textile yarn, E-Thread™ – enabling easy integration into any product or material, and is a key enabler of the circular economy. Primo1D’s growth strategy is based on i) licensing its technology for the high-volume retail market, and ii) in-house manufacture for industrial applications.
EC M&A acted as exclusive financial advisor to Primo1D and its shareholders on this transaction.