Insight SIP welcomes major new investor, 2C Invest
In August 2018, we announced that 2C Invest, a Toulon (France) based Investment fund, had purchased the shareholding of a number of existing investors. As a result of this investment, 2C Invest will hold 18.6% of the capital of Insight SIP.
Over the last 10 years, the company has grown at an annual rate of over 30% per annum and has sold over a million of its own modules. In addition, custom products designed for third parties have been produced in quantities of several tens of millions of units annually.
The growth of Insight SIP was supported by investment initially from Sophia Business Angels who were joined in subsequent years by PACA Investissement, Primaveris and Success Europe. In 2018, Primaveris and Success Europe wished to exit their investments, and have sold them to 2C Invest and to the company management.
“On behalf of the founders and all of the Insight SiP team, I would like to thank Primaveris, Sophia Business Angels and Success Europe for their financial support and guidance over the last decade. Today we are very happy to welcome Erwoan Naour and his team from 2C Invest. We believe they can bring important benefits to us with their industrial know-how and financial expertise to assist in our future growth and the next stage of our development,” said Michel Beghin, CEO of Insight SIP.
“I am delighted that through its investment in around 18,6 % of the equity share capital of Insight SIP, 2C Invest will have the exciting opportunity to accompany the founders and management team in realising our shared goals for further development and profitable growth in the fast-growing wireless connectivity/IOT global market,” said Erwoan NAOUR, President of 2C Invest.