FRANCE - Seventure leads EUR 3m investment into CodaSystem

Paris-based CodaSystem has developed software that provides certified dating and location details for pictures taken with hand-held devices, such as PDAs or mobile phones. The certified pictures generated by the software can be used as material evidence in a litigious situation, meaning that the software has applications in resolving conflicts between suppliers and distributors, or between contractors and subcontractors, for example. Other applications include archiving and security.

CodaSystem will use the new capital to fund the commercial development of its product in France and neighbouring countries. The company was established in 2002.

OTC and CapDécisif previously invested EUR 1.7m and EUR 300000 respectively in a second EUR 2m financing round.

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