Unquote

Conztanz raises €2m from A Plus and Pléiade

  • José Rojo
  • José Rojo
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French aviation software developer Conztanz has raised €2m from VCs A Plus Finance and Pléiade Venture as part of its first institutional funding round.

A breakdown of the round was not provided, but A Plus invests a minimum of €1m during growth transactions. Meanwhile, Pléiade typically writes cheques in the €100,000-2m space.

Conztanz's first institutional round will assist the business as it invests in research and business development. The funds will be dedicated to ConztanzOne, a digital platform used by airlines to integrate their data and information systems.

In addition, the company will continue to develop OneApps, a marketplace offering aviation-focused services such as passenger identification engine CXMapp and on-board service tool CrewApp.

The deal is A Plus's second to be reported by unquote" today. The VC is one of three firms backing the MBO for French retail software developer Bimedia, which is to be controlled by Omnes Capital as majority shareholder, followed by Idinvest and A Plus as minority owners.

The investment is also the latest joint venture between A Plus and Pléiade. In April 2014, the former led a €4.3m round for French chemical manufacturer Doucet with additional commitments from the latter, Entrepreneur Venture, ILP and Cofimatra.

Company
Conztanz was founded in July 2013 as a software developer for the aviation sector. The business produces data and information integration tools for airlines such as Luxair, Cityjet and Brussels Airlines. With headquarters in Sophia-Antipolis, the company currently employs 20 people and generated revenues around the €2m mark in 2014.

People
A Plus investment director Alexandre Villet led the deal on behalf of the VC, while investment director Laurent Vernier represented Pléiade. Bertrand Kientz, Jean-Paul Camous and Guy Vermeil all co-founded Conztanz and are the company's current CEO, CTO and COO, respectively.

Advisers
Equity – Gide Loyrette Nouel, Pierre Karpik, Louis Vulpian (Legal); Bonna & Associés, Sigmund Briant (Legal); Oderis Consulting, Julien Passerat, Candice Veuillet (Financial due diligence).
Company – Neuflize OBC, Jean-Christophe Liard (Corporate finance).

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