Xee, a Lille, France-based smart car app, raised over €12m in funding.
Backers included Bridgestone EMEA, Total and Cofip, and existing investor Via ID.
The company intends to use the funds to expand its commercial development and marketing efforts to ramp up its position in Spain, Portugal, Italy and Belgium and grow into new strategic European markets, including Germany, the Netherlands and Luxembourg, Research & Development synergies 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, and open up its platform to global industrial players (automotive, aftermarket, insurance, etc.) interested in rolling-out mobility services for their clients.
Created in 2012 and led Yvan Gravier, CEO, Xee is a service platform for connected cars enabling companies to:
– roll out services for motorists, through pay as you drive, pay how you drive, geolocalization, security and alert, integration with SmartCity/SmartHome, etc.;
– manage their vehicle fleet with a connected, real-time approach using geo-localization, steering, analysis, etc.
Players such as Midas, Indigo and Axa have already integrated connected cars to their business model with Xee’s solutions.