Hi Inov leads $6.2m series-A for Deepomatic

Previous investor Alven Capital and entrepreneur and former Talend CEO Bertrand Diard also took part in the round.  

Unquote understands that the investment comprises $5.1m in equity and $1.1m in debt financing. Following the deal, Hi Inov partner Nicolas Meunier and Alven Capital partner François Meteyer will join the company's board to support the management.

Alven Capital drew equity from its €120m Alven Capital IV fund to finance this investment.

The company intends to use the fresh capital to further accelerate its expansion in France and abroad and consolidate its market position in the field of image and video recognition across Europe. In addition, Deepomatic has recently opened a new office in New York and plans to further expand in the North American market.

Previous funding
Alven Capital led a $1.4m seed round for Deepomatic in 2015, alongside several business angels and entrepreneurs, including tech entrepreneurs Pierre Valade and Jean-Charles Samuelian. Alven provided around $1m of the $1.4m total, while the other investors supplied the remainder. The VC, which secured a minority stake in Deepomatic, invested from its fourth fund.

Alven injected additional funding of around $850,000 in the company in 2016 to support its expansion.

Company
Founded in 2014, Paris-headquartered Deepomatic develops a deep learning platform allowing companies to create and deploy image and video recognition applications. The startup's client base includes businesses operating in the automotive, construction, oil and gas, pharmaceutical and retail sectors such as Compass, Indigo, Oscaro, Sanofi and Valeo. It generated revenues of around €1m in 2018.

People
Hi Inov Dentressangle – Nicolas Meunier (partner).
Alven Capital - François Meteyer (partner).
Deepomatic - Augustin Marty (co-founder, CEO).

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• Topics
• Expansion
• France
• Technology
• Alven Capital
• France
• Venture