SOURCE: Xee

www.xeefleet.com

May 03, 2017 10:11 ET

Xee raises 12 million euro for their connected car services platform

The French startup, founded in 2012 by Via ID, Mobivia's business accelerator for mobility, completes fundraising to speed up growth and roll-out their platform

LILLE, FRANCE--(Marketwired - May 03, 2017) - Xee, the budding start-up from FrenchTech reinventing how people use cars with its platform of connected services, raises over EUR12M from Bridgestone EMEA, Total and Cofip, who join Via ID, the existing investor.

In the fast growing connected car market, expected to have more than 400 connected vehicles by 2020 and be worth an estimated $350 billion, 84% of sales will be generated by aftermarket players. Xee is the service platform for connected cars enabling companies to:

  • roll out next-generation services for motorists, regardless of the model of their vehicle, through pay as you drive, pay how you drive, geolocalization, security and alert, integration with SmartCity/SmartHome, etc.;
  • manage their vehicle fleet more easily from the first vehicle onwards, with a connected, real-time approach using geo-localization, steering, analysis, etc.

This fundraising from Bridgestone EMEA, Total and Cofip marks a new milestone in Xee's growth which goes hand-in-hand with:

  • an acceleration of its commercial development and the marketing of its European roll-out which began in 2016. While big players such as Midas, Indigo and Axa have already integrated connected cars to their business model with Xee's solutions, the startup will amp up its position in Spain, Portugal, Italy and Belgium and conquer new strategic European markets, including Germany, the Netherlands and Luxembourg.
  • a strategy of innovation boosted by R&D (Research & Development) synergies that allow Xee to maintain its technological advantage in connected cars, structure rich data from connected cars, and to benefit from the artificial intelligence which is managing these cars.
  • opening up its platform to global industrial players (automotive, aftermarket, insurance, etc.) interested in rolling-out mobility services for their clients, establishing themselves as neutral trustworthy third parties and aggregators of services for drivers of all vehicle types.

"This capital-raising is an important step for Xee to other potential industrial and financial partners. Over and above the investment itself, the industrial, technical and commercial synergies that will be created with these players will open up new perspectives for Xee. The technical expertise and global presence of Bridgestone EMEA on one hand, and the know-how and focus on mobility of Total on the other hand will make it possible to accelerate the rollout of new services for motorists. We will also be able to provide a more effective services support for our current clients and partners such as Axa, Indigo, Midas or Total in their international projects relating to connected cars." says Yvan Gravier, Xee's CEO.

"In addition to being a forerunner in the field of connected cars, Xee is a highly original start-up. Founded by Mobivia in 2012 based on an intrapreneurial initiative, Xee's development was accelerated by Via ID to help it grow and connect with leading industrial and financial players across the world. Today, we are proud to have fostered the emergence of a company that is a European leader in its particular field, which we hope will be rich with financial and industrial partnerships in the future", adds Yann Marteil, Via ID's CEO and Mobivia's Chief Operating Officer.

Renowned investors Bridgestone EMEA and Total Venture have a great deal of influence and will help with Xee's roll-out.

"The nature of mobility services is changing rapidly. Start-ups have an essential role to play in the development of these exciting new business opportunities, At Bridgestone we highly value innovation, it is in our DNA, and it is why we welcome the opportunity to invest in companies like Xee," said Paolo Ferrari, CEO and President, Bridgestone EMEA

"This stake completes Total Energy Ventures' portfolio in digital mobility solutions. Connecting cars to the cloud is a must-have for the future of mobility. Xee's offer stands out from its competitors by the wide range of vehicle models and brands covered, and by the quantity of data collected and analyzed," said François Badoual, Total Energy Ventures' CEO. "We therefore wanted to support the growth of this data management platform, which both creates value and improves user experience."

About Xee

Xee is a French start-up created in 2012, supported by Mobivia Group through its business accelerator Via ID. In 2014, after 3 years of R&D and 6 patents, Xee platform is launched to contribute to the connected automotive development and allow to enterprises to reinvent today's car use and datas for the benefit of drivers. More information: www.xee.com; www.xeefleet.com

About Via ID - Mobivia

Via ID is a business accelerator that supports in the long term projects related to new modes of mobility: urban, shared, connected and more generally, all types of Easy Mobility services. Via ID offers a complete ecosystem for the entrepreneurs that choose to join it, providing incubation, financial support, expert advice and strong synergies with leading providers of mobility solutions. Today, Via ID acts as an incubator in Paris and Lille, has an office in the United States and a portfolio of about fifteen startups (including Drivy, Heetch, Smoove, Ector, Xee, etc.). It is also part of Mobivia, European leader for automobile services and new mobility solutions (Norauto, Midas, ATU etc.).

Find out more: ww.via-id.com / @Via__ID / www.mobivia.com

About Total Energy Ventures

Total Energy Ventures is Total's venture capital arm for investing in energy start-ups. Its investments support the development of innovative businesses in areas such as renewable energies, energy efficiency, energy storage, digital energy and sustainable transportation.

About Total

Total is a global integrated energy producer and provider, a leading international oil and gas company, and the world's second-ranked solar energy operator with SunPower. Our 96,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. total.com.

About Cofip

Cofip is a family office owned by the Senn family.

Financial and legal consulting: Clipperton, LATHAM & WATKINS, K&L Gates

Contact Information