Xerys Gestion leads €13m second round for Sevenhugs

Xerys Gestion came in as a new investor in the round, followed by existing investors NovX Capital (Noveo's venture capital arm) and CapDecisif Management through the FRCI regional fund (Fonds régional de co-investissement de la région Ile-de-France).

This second funding round comes a year after the Parisian company raised around €1.50m in a seed round let by Kima Ventures.

The fresh capital should help the app developer to make further investments across the Atlantic, where it already made a breakthrough thanks to the Ubi/io initiative supported by BPI France, helping French startups access Silicon Valley. The startups will also look to double the size of its team, and will invest in R&D for the development of its second product.

Previous funding
In March 2015, Kima led a seed round of funding for Sevenhugs, investing a total of €1.5m, alongside CapDecisif, NovX and other business angels.

Company
Founded in 2014, Sevenhugs is developing a home environment monitoring application aimed at both iOS and Android. The app offers technology designed to help people sleep better by monitoring temperature, humidity and air quality. The firm is based in Paris, France.

People
Xerys Gestion – Jacques Simonnet
NovX Capital – Olivier Morlet
CapDecisif Management – Yvan-Michel Ehkirch

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