Iris Capital leads €1m seed round for Armis

Iris Capital was joined by several business angels based in Paris, London and New York on the round, as well as family offices.

This first round of funding should enable the group to continue developing its so-called multi-local advertising technology and to establish business partnerships with both food and non-food retailers. Armis currently counts 10 employees and is also planning to double its headcount in 2017, the VC said in a statement.

Iris Capital closed its third venture capital fund, Iris Capital Fund III, on €80m in 2009. The fund focuses on commitments in the media, communications and information technology sectors through both early-stage and expansion investments across Europe.

Company
Founded in 2016 in Paris, Armis digitalises local advertising for physical retailers in order to grow in-store traffic.

It provides online advertising technologies to compete with the web's and attract nearby consumers through geolocation, big data and machine learning. The group currently counts 10 employees.

People
Iris Capital – Julien-David Nitlech (partner).

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