Expanding Joint Go-to-Market Efforts, Preferred Inlay Design and Manufacturing Partnership to Accelerate Adoption of Physical AI to Meet Growing Industry Demand

Avery Dennison Corporation (NYSE:AVY), a leading global materials science and digital identification solutions company, today announced a $75 million minority investment in Wiliot, a global leader in Physical AI for supply chains. This strategic investment deepens the long-standing partnership dedicated to creating a more intelligent, transparent and connected world.

The investment reflects Avery Dennison's commitment to delivering differentiated value to its customers by expanding its portfolio of sensor technologies and solutions, and it demonstrates the company's conviction in Wiliot's technology. As part of this deepened relationship, which builds on Avery Dennison's market leadership in enabling digital identities for physical items, the company will serve as the preferred inlay design, manufacturing and commercial partner for Wiliot. The two companies will significantly strengthen and expand their joint go-to-market efforts to accelerate the adoption of digital identities on physical items across key industries including retail, logistics and food.

Avery Dennison will receive a seat on the Board of Directors for Wiliot with the investment, in addition to its existing Board Observer position.