CDC Entreprises et al. in €3m round for Geolid
CDC Entreprises, A Plus Finance and investment holding Hi Inov have provided French online advertisement solution Geolid with €3m of funding, according to local reports.
CDC is understood to have invested €1m from FSN PME, the French State's €400m venture fund. Meanwhile, A Plus, which had previously backed Geolid with €1.8m in 2010, reportedly provided €450,000 in this latest round.
Geolid will use the fresh capital to bolster its commercial development.
Company
Founded in 2008, Geolid has developed an online advertising solution allowing small businesses and artisans to achieve a greater visibility online. The Lyon-based company posted a €4m turnover in 2012, more than double the €1.8m it generated the previous year.
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