Mar 17, 2023

Geoflex is accelerating its development with a €6 million series A financing Geoflex welcomes Bouygues, Stellantis Ventures and Thales to its capital alongside Demeter IM, its historical investor. Throughput this new funding round, Geoflex confirms its ambition to become a key world player in the field of New Mobilities, Construction 4.0, and Newspace. Geoflex, a recognized player in hypergeolocation by satellites supported by the French Space Agency CNES, is accelerating its development with a €6 million series A financing, and welcomes Bouygues, Stellantis Ventures and Thales to its capital alongside Demeter IM, its historical investor. Throughout this new funding round, Geoflex confirms its ambition to become a key world player in the field of New Mobilities, Construction 4.0, and Newspace. Geoflex, a pioneer in hypergeolocation services by satellites, has successfully completed a new financing round of €6 million to accelerate its commercial developments and strengthen its production facilities, having demonstrated in various environments its technological capabilities based on the PPP-CNES©/Geoflex technology (PPP standing for Precise Point Positioning). This financing round was carried out with the decisive support of Bouygues (Bouygues Telecom, Colas and Bouygues Construction), Stellantis and Thales, acting through their respective corporate venture entities, joining Demeter IM that has been a shareholder in the company since 2018. The investment in Geoflex by these three major global groups with leadership positions in their markets illustrates the strategic importance of the Geoflex’ solutions at the heart of today’s challenges: new mobility, environment, technological disruptive changes, and cyber security. In fact, the hypergeolocation developed by Geoflex makes it possible to promote: The emergence of new mobilities in the field of transportation: Road for location-based services, lane level navigation, information sharing between vehicles, pedestrian, and infrastructure (V2X), better driving assistance systems, autonomous driving, etc. ; Rail for better passenger information, driving assistance services, precise and safe positioning on board the trains to drastically lighten the ground infrastructure used for train localization, enable moving block circulation, etc. ; Or airborne for air traffic control of drones, flying taxis (VTOL), etc. ; The development of precision agriculture for hypergeolocated spreading of plant protection products, mechanical treatment of weeds, etc. ; The dronification of activities with a special focus on robotics for construction or last-mile delivery, etc. ; The correct positioning of people and objects (Internet of Things/Positioning of Things), in complete safety, with harmonious interactions ; Accurate and reliable positioning, resistant to jamming and spoofing, to certify data or actions for double authentication through accurate positioning and time stamping, traceability of field operations, etc. After numerous proofs of concept, top awards all over the world (CES Award in 2019 and 2022, Dubai World Challenge for Self-Driving Transportation, Spring 50 Paris-Saclay, Software République, etc. ), and integration assistance programs with recognized players (Loc4Rail with SNCF French Railways etc. ), Geoflex is now structuring its activities to become the world leader in satellite-based hypergeolocation. By offering precision, safety, continuity of operation, and resilience to jamming and spoofing, Geoflex augments GNSS (Global Navigation Satellites Systems – American GPS, Russian GLONASS, Chinese BEIDOU, and European GALILEO), in a very simple and accessible way, for the benefit of all applicative or technological integrators. Geoflex broadcasts a standardized GNSS corrections data stream usable by all GNSS receivers, regardless of their brand. Today, Geoflex is the only GNSS augmentation service operator, neutral and agnostic of downstream application chains, capable of augmenting the GNSS accuracy from few meters down to few centimeters, anywhere in the world, on land, at sea and in the air, up to 25,000 km of altitude. The Geoflex solutions enable real-time and post-processing precise positioning of any objects, directly on the objects in the field, or in the Cloud, correcting the measurements of all GNSS receivers to augment their positioning and timing accuracy. This capability is based on the PPP-CNES©/Geoflex technology, a unique and patented core technology developed by CNES since more than 12 years, strengthened, industrialized and operated by Geoflex that commercialize it on various downstream markets via subscriptions. This fundraising will enable Geoflex to consolidate its technological and industrial assets in order to deliver its solutions to its integrators and to develop its customer base worldwide. “Hypergeolocation solutions will soon transform our activities and the daily lives of our customers. Within the framework of the start-up investment initiatives of Bouygues Construction, Colas and Bouygues Telecom, we are pleased to be able to support the continued growth of Geoflex, a player recognized for its know-how and expertise in the sector. We also look forward to working with Geoflex to transform our businesses and the services we provide our customers.” Edward BOUYGUES Deputy CEO Telecoms Development, CSR and Innovation “We are proud to support the development of Geoflex, a promising company that has developed one of the most powerful Precise Point Positioning capabilities in the world. This investment will allow to leverage the combined skills of Geoflex and Thales to accelerate the development of high-precision navigation and hypergeolocation services.” Philippe KERYER Executive Vice President Strategy, Research and Technology, Thales “We are very excited to partner with Geoflex, whose unique technology will help shape the future of mobility and make a real difference for our customers. Highly accurate positioning is the basis for intelligent vehicles and will create a new standard for safe location as well as enable advanced V2X services and ADAS systems on autonomous vehicles.” Adam BAZIH Head of Stellantis Ventures “CNES, the French Space Agency, has been developing the PPP-CNES© Technology for over 15 years, based on its expertise in navigation and orbitography, demonstrating since 2007 integer ambiguity resolution, which is the key for achieving the highest GNSS accuracy with real-time Precise Point Positioning (PPP) corrections. We have been supporting Geoflex for years now and are proud to be part of this new era, which will see Geoflex become a worldwide leader in Hypergeolocation services.” Philippe BAPTISTE President of CNES “We have been early believers in Geoflex’s technology potential, and we are delighted to welcome these 3 international groups for the next development stages of the company. With their support, we are convinced that Geoflex is ready to become a worldwide leader of the hypergeolocation in sectors as varied as mobility, construction, space, location-based services or agriculture.” Olivier BORDELANNE Partner – Demeter IM “I am delighted to be entering today in the commercial roll-out and scale-up phase of the business, having completed the first stage of implementation and demonstration of the PPP-CNES©/Geoflex Technology. This fundraising and the arrival of these new shareholders validate the Geoflex’s vision, in terms of technology, but also regarding our strategy and business model. A huge thank you to all the employees and partners involved for all their work. The world is changing and we are going to make a positive contribution to it. Hypergeolocation Everywhere!”