Successful Funding Round for Primo1D

The company has secured 6 million euros in funding from Michelin Ventures, BNP Paribas Développement and its historic partners: Sofimac Innovation, Kreaxi, Expansivest, Casra Capital and Rhône Alpes Angels.

Connected objects are transforming our daily lives, revolutionizing customer experience and consumer habits. Primo1D is a pioneer in integrating electronics into yarns for embedding into objects and materials. The company is paving the way for new applications across industry sectors by offering an innovative hardware solution serving the needs of identification, traceability, authentication and asset management.


“This second fund-raising effort will allow us to accelerate the industrialization of our product in the Auvergne-Rhône-Alpes region, so that we can better respond to a growing international demand,” explains Emmanuel Arène, founder and CEO of Primo1D. “Bywelcoming a strategic investor such as Michelin Ventures, which has a recognized history of entrepreneurial excellence, we are aiming for the IoT markets in areas of strong added value. In addition, the support of BNP Paribas Développement is important because of its large base of associated corporations, which is likely to be interested in the E-Thread solution. Finally, we are strengthened by the reinforced presence of our historical investors, who continue to assure us of their confidence in the potential of our company.”


Matthieu van der Elst, general manager of Michelin Ventures, declared, “Our participation in the venture is a concrete illustration of our investment strategy, which aims to support both innovative companies with impressive growth potential, and pertinent themes for our businesses. Innovation is at the heart of our group’s DNA, and along with numerous partners, we have been interested in RFID technology for over ten years. We are convinced that this investment will contribute to making the Michelin Group an authority on RFID technology in our activities: tires and their associated services, and high-tech materials.”


“We are happy to become shareholders in Primo1D thanks to this second funding round, and to join the partners who have supported the project through its founders and team since Primo1D’s inception. We believe the company can bring RFID technologies to new applications and industries,”underlines Nicolas Tymen, director of Participation Ventures for BNP Paribas Développement.


RFID technology at the service of manufacturers and connected objects

RFID (Radio Frequency Identification) is a contactless identification technology. It allows information contained in an electronic chip to be stored and recovered at a distance. The adoption of UHF RFID is now massive, thanks notably to its recognized efficiency as an identification and asset management solution in the context of increasingly stringent product traceability regulations.The yarnform factor of the Primo1D tag allows it to be both invisible and resistant when incorporated in materialsand objects. The unique identifier is secured for the life of the product, with numerous benefits for production monitoring, real-time inventory, product return management, predictive maintenance, etc., thus facilitating the customer experience and the creation of new applications for professionals and consumers.