EON Announces $10 Million Series A Led by IMAGINARY
February 15th, 2022
New York, NY (Feb 15th, 20) — Today, EON — retail’s leading Digital ID platform — announces an initial close of a $10 million dollar Series A, led by IMAGINARY. EON’s technology platform connects every physical product to the cloud – bridging the gap between the digital and physical world – to unlock new business models, customer services and yet unimagined Web 3.0 business-critical innovations. IMAGINARY invests in iconic, generationally defining brands and the technology businesses that empower them. Dame Natalie Massenet, Co-Founder and Co-Managing Partner of IMAGINARY will join the board of EON.
EON was founded in 2017 by Natasha Franck with a mission to give every product a Digital Identity (ID) and accelerate sustainable business model transformation across retail. With a Digital ID, simple products become interactive, intelligent and circular assets that can connect to other applications, business models and services. In doing so, EON unlocks lasting connections with customers, new business models (i.e. resale, online gaming, etc ), and paves the way for decentralization, the metaverse, NFTs and beyond. Since inception, EON has been preparing brands for the future of commerce – beginning with fashion and apparel and now moving into consumer packaged goods, beauty, furniture, home goods and beyond.
EON has partnered with some of retail’s largest and most influential global brands including Target, Zalando, H&M, PVH Corp, YOOX-NET-A-PORTER GROUP and will be announcing many more in 2022. Last year, in partnership with His Royal Highness the Prince of Wales, Franck stewarded a commitment from the CEOs of fashion’s leading luxury brands including Burberry, Stella McCartney, Brunello Cuccinelli, Giorgio Armani, Mulberry, and many more, to introduce Digital ID across all products by 2025.
“We are currently at a powerful inflection point in retail where soon every product will be connected, and Digital ID provides the essential foundation for brands to win in fashion’s new economy. EON’s technology unlocks critical new customer-centric services, delivering value to the entire ecosystem and changing the future of commerce in ways we’ve only just begun to imagine. EON’s track record for successfully transforming the business model of some of retail’s largest players speaks to the team’s expertise and vision for pioneering the merging of our digital and physical worlds.”
- Natalie Massenet, Co-Founder and Co-Managing Partner, Imaginary Ventures
“This is an important milestone for EON and we are honored to have Natalie’s support. Natalie revolutionized luxury retail, leading the industry into e-commerce and web 2.0, when she founded Net-a-Porter in 2000. We are now at the next wave of transformation, and are just beginning to capture the far-ranging potential of this technology, and the impact on the future of commerce. With this funding, EON is scaling to connect every physical product to the cloud – enabling clients to increase the value, revenue, data and customer relationships generated through each digitized product. With every Digital ID, we are accelerating circular and sustainable business model transformation across the fashion industry. ”
- Natasha Franck, Founder and CEO, EON.