Funds for Key Data Extraction Specialist Heex

Paris-based Heex Technologies has raised EUR 6 million in a second round of funding, to continue development of its Smart Data platform, including expansion of its technical team, sales team and product offering.

The round was led by Dutch VC firm SHIFT Invest and French counterpart Karista and backed by a loan from BPI France. Techstars, through whose Tel Aviv accelerator Heex passed in 2021, is also reinvesting. Karista led the company's previous, 2022 round of EUR 3.2 million via its spacetech fund Cosmicapital.

Founded in 2019, Heex provides a platform which helps clients get to the relevant data in vast, unstructured hoards, accelerating technological development and reducing environmental impact. Initially focused on data created by and in the production of autonomous vehicles, the platform is now expanding to work with data from Smart Cities and other technological frontiers. Heex explains that the amount of data autonomous vehicles process is enormous, surpassing 5TB per vehicle per hour, and that this is generally scooped up en masse and duplicated for use by marketing, engineering and other functions, although only around 1% of it may be of use for each function.

Heex co-founder and CEO Bruno Mendes Da Silva comments: 'To continue to exploit the formidable potential of AI and automation, the goal is now to only extract the necessary data rather than accumulate it endlessly; development teams do not need more data, they need better datasets'. The hardware and software-agnostic platform facilitates sharing of the key data, with customers using it to configure specific events and definitions for extracting it in real time.

Thijs Gitmans, Managing Partner at SHIFT Invest says Heex stood out partly because of its 'huge impact potential on the footprint of data centers'.

Web site: www.heex.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.