Netatmo raises €4.5m from Iris and FSN PME

The fresh funding will support the firm's plans for expansion into Europe, Asia and the US. The company also intends to launch a new technology in the second half of 2013.

FSN PME is a state-backed vehicle managed by CDC Entreprises.

Company
Founded in 2011 and based in Paris, Netatmo develops consumer electronics. The firm has developed a personal weather station with air quality sensors, allowing users to track the indoor and outdoor environment and to wirelessly transmit data to the Netatmo app. The firm's weather stations currently monitor the environment in more than 105 countries.

People
Véronique Jacq, Frédéric le Brun and Nicolas Iordanov worked on the deal for CDC. Iris was represented by Guillaume Meulle.

Advisers
Equity – Cabinet Chammas & Marcheteau (Legal); Audit & Diagnostic (Financial due diligence).

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• Topics
• Southern Europe
• Expansion
• Consumer
• France
• Iris Capital (Part’Com)