Primo1D raises €15 million in capital to ramp up production
Categorie(s) : Industry, Life @ MINATEC, News
Published : 4 February 2022
Primo1D, a CEA-Leti spinoff founded in 2013, develops and manufactures RFID-enabled thread that, once integrated into textiles, cables, or other manufactured products, is both durable and invisible. The solution can be used to identify, authenticate, and track products throughout their lifecycle.
After seven years at MINATEC, Primo1D moved to its own facility nearby to begin manufacturing.
SPI (a Bpifrance investment fund), Innovacom, and Primo1D’s existing investors injected €15 million in fresh capital into the startup in November 2021—funds Primo1D will use to ramp up production significantly.
The company will install a new piece of manufacturing equipment and hire ten people this year. Production will continue to ramp up from today’s 1 million units to 100 million units per year by 2024.