Siparex et al. exit Kiwatch to trade

The enterprise value of the company is almost €10m, Unquote understands.

The management team, led by chair Cedric and CEO Olivier Blanchard, sold their majority stake, but will stay on with the business and continue to lead the company.

Following the deal, Kiwatch will be integrated within the Scutum group. Based in Paris, Scutum specialises in electronic security, defence and fire prevention.

Previous funding
Following a seed round of around €600,000 from various business angels, Kiwatch raised a funding round of an undisclosed amount led by Fairwest in 2016.

Subsequently, the company raised €3m in December 2017. The funding round was composed of €2.15m in equity deployed by Entrepreneur Venture, Siparex and Fairwest, and additional debt financing of €850,000 provided by a group of banks. Siparex invested via its fund Pays de la Loire Participations.

Company
Established in 2011 and headquartered in Nantes, Kiwatch provides digital and video surveillance that can be accessed from the web using any mobile interface, serving both private individuals and small businesses.

People
Kiwatch – Cédric Williamson (chair, co-founder); Olivier Blanchard (CEO, co-founder).
Entrepreneur Venture – Bertrand Folliet (partner); Pierre-Alexis de Vauplane (investment director).
Siparex – Augustin de Jerphanion (partner).

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