Primo1D Raises 15M Euros for Industrial-Scale Deployment

Primo1D announced a new funding round of 15 million euros from major French capital funds.

Primo1D's E-Thread tag provides a unique, high-durability and plastic-free RFID solution for product identification, authentication, and traceability. E-Thread is integrated by customers into their products during their manufacturing processes: it thus inseparable and functional throughout a product’s lifecycle. E-Thread ensures a genuine electronic identification and a durable link between the tagged item and the cloud, where RFID-based data can be stored, managed and shared via the Internet of Things (IoT). It responds to the digitization challenges of complex supply chains, Industry 4.0 and new sustainable business models such as the circular economy.

As industries shift towards ‘smarter’ operations, the global UHF segment of the RFID chip market, according to RAIN Alliance Market Research, is undergoing very strong growth (CAGR 30%) with more than 20 billion components consumed each year. While large-scale textile distribution is the biggest contributor to this growth, many other industries such as automotive, transport and healthcare are joining in.