After an initial fund raising of €1 million in 2018, TEEPTRAK has completed a second €3 million financing round with EDF, through its Corporate Venture EDF Pulse Croissance and its historical investor XAnge (Siparex Group). This fund raising will enable TEEPTRAK to accelerate its development in France and internationally and to launch new products to make the measurement of industrial performance ever more accessible.
A reference in the field of industrial performance
With more than 150 manufacturing plants equipped on 4 continents, TEEPTRAK today deploys its industrial performance monitoring solutions within many SMEs and ETIs as well as major players such as PSA, Hutchinson, Eolane, Essilor, Nutriset… The scale up thus doubles its turnover every year and is today a reference on the industry market with its competitive and easily deployable solution.
This new round of financing confirms the solidity of TEEPTRAK’s model, the relevance of its strategy and the confidence of investors in its growth potential. It shows that industrial performance monitoring occupies a predominant place in the industry.
“By offering a simple and accessible solution, TEEPTRAK enables manufacturers and SMEs to improve their performance and competitiveness, in the continuity of the services offered by EDF to its industrial clients. Commercial synergies are to be built and TEEPTRAK will be able to rely on EDF’s strong presence on the territory to continue its deployment in France. I’m convinced that improving the efficiency of industrial processes can contribute to the fight against climate change, so I’m delighted to begin our collaboration with this promising start-up” Michel Vanhaesbroucke, Director of EDF Pulse Croissance
“Since XAnge has been on board, TEEPTRAK has been able to demonstrate its ability to be at the heart of production lines and to improve the performance of its customers through specific use cases. This strategic position should enable TEEPTRAK to offer its customers high value-added technological solutions in the years to come. Considering the recent developments of the company, it is quite naturally that XAnge has chosen to participate in this new round table alongside EDF. “Alexis du Peloux, Principal, XAnge
The systems have already been translated into more than 15 languages and this second round of financing will enable the company to open offices in Germany, Italy, North America and a second one in China, where it has been operating since 2018.
“After meeting the main technical challenges and bringing many essential functionalities into production, our solutions have reached a level of maturity that enables us to guarantee very large-scale deployments. Our online Academy, comprehensive documentation and well thought-out ergonomics make it easy for our customers to equip their plants today”. François Coulloudon, CEO, TEEPTRAK.
About EDF Pulse Croissance
Created in 2017, EDF Pulse Croissance is the corporate venture and incubator of the EDF Group. EDF Pulse Croissance’s mission is to explore the ecological and digital transition and to create new growth levers for the Group by offering its clients (individuals, businesses, local authorities) innovative and competitive offers and services. Since its creation, EDF Pulse Croissance has invested in more than 20 start-ups and is a partner of sixteen funds. Its financing capacity
in 2020 is 60 million euros (excluding exceptional operations). The main areas of focus are the performance of production tools for corporate customers, services to residents, sustainable land management and decentralized energy systems.
European leader in venture capital, XAnge is a company based in Paris and Munich that invests in innovative start-ups operating in the digital, enterprise data, fintech and deeptech sectors. Since our creation in 2003, we have had the privilege of working alongside exceptional teams with strong values, behind such adventures as Ledger, Lydia, Odoo, Neolane, Believe Digital, Evaneos, Welcome to the Jungle, Private Driver/Kapten and many more.
others. XAnge is part of Siparex, an independent private investment group with over €2 billion under management.