Sevenhugs, a Paris, France-based provider of a remote control with a precise indoor positioning system, raised an additional $9M in funding.
Xerys Capital made the investment.
The company intends to use the funds to further develop and distribute their smart home solutions both in the U.S. and globally.
Founded in 2014 by Simon Tchedikian, CEO, Stéphane Jaubertou, COO, and also led by Julien Colafrancesco, CTO, and Baptiste Daroussin, VP Engineering, Sevenhugs provides Smart Remote, a consumer electronics product integrating an ultra-precise indoor positioning technology, into the U.S. market in 2018.
The company’s technologies are protected by more than 26 international patents, three of which have already been delivered.
Sevenhugs has 45 employees, whose research, development and artificial intelligence center is located in Paris, France, its Sales and Marketing division in San Francisco and production line in China.