Inside Contactless raises 50m euros in additional funding

Contactless and NFC specialist Inside Contactless has raised a further €50m (US$65m approx) in financing.

Existing investors Gimv, Sofinnova Partners, Vertex Israel, Euro US Ventures, GGV Capital, Qualcomm Inc, Nokia Growth Partners, Samsung Ventures and Visa International have all participated in the new funding round along with two new investors, French sovereign wealth fund Fonds Strategique d’Investissement (FSI) — which has provided €7.5m of the funding — and Atmel, which has provided €3m.

The funds raised will be used to finance Inside Contactless’ acquisiton of Atmel’s Secure Microcontroller Solutions (SMS) business, which completed this week, and for the future development of the company.

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