Magic Add receives funding boost
Finnish smart packaging startup Magic Add has raised 250 000 US dollars in angel funding to further develop the Internet of Packaging.
By using unique coding and sensor technology, the company enables everyday packaging to communicate.
“Magic Add specialises in cost-efficient, high-volume smart packaging, making it the cheapest and most effective way of embedding intelligence in packages,” says president and CEO Samuli Manninen.
The company utilises a unique code that will be contained by all packaging in the future to collate information from the entire supply chain. This ensures the authenticity of products and informs consumers about the products’ chain of production, contents and freshness.
The funding boost came from a local angel investor, current management and Tekes, the Finnish Funding Agency for Innovation. The funds are being used for product development and to create an international network of suppliers and customers.
In addition to digitalising applications for foodservice packaging in partnership with Finnish food and drink packaging specialists Huhtamäki, Magic Add has also entered into cooperative agreements with other international companies.