Digital ID pioneer EON adds Net-a-Porter Founder to board and raises £7.3 million investment

Technology company EON has raised £7.3 million in a Series A investment, initially led by IMAGINARY Ventures. Natalie Massenet, Founder of Net-a-Porter and Co-Founder IMAGINARY, will further join EON’s board.

EON was founded in 2017 by Natasha Franck with a mission to connect items, such as fashion clothing, to a Digital ID to make them "interactive, intelligent and circular."

The technology will create the foundations of "connected commerce", EON says, allowing companies to build better relationships with customers and create circular business models. The Digital ID is powered by EON's enterprise software solution for digitising and connecting physical products that it calls the Product Cloud.

Yoox Net-A-Porter Group announced that it would pilot the Digital ID technology across its private label collections in 2021, saying that it would unlock services for customers such as care and repair, and will enable re-commerce and recycling.

Before founding EON Franck led global design and development for smart cities and sustainable urbanism at wellness innovation company Delos and green real estate investment firm Jonathan Rose Companies.

Franck commented on the investment and Massenet joining the board on LinkedIn: "Now, as the industry prepares for the next wave, Natalie recognises the fundamental role Digital ID and EON’s technology will play in enabling brands to win in Web 3.0. I am honoured and humbled to have Natalie as a partner in EON’s future, and grateful to the entire IMAGINARY team for their vision and trust.

"EON was founded in 2017 with a mission to give every fashion garment a Digital ID. Now our small company has proven that this big idea is not only possible – it’s well within reach. With this funding, EON is scaling to connect 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. With every Digital ID, we are one step closer to a new future for commerce, and accelerating sustainable business model transformation across the industry."