Funds for Data Exchange Operator Dawex

France-based data marketplace operator Dawex has completed a funding round of EUR 5m, supporting global expansion and its ambition to become the 'reference' data exchange.

The firm's data exchange technology and marketplace allow organizations to source, monetize and exchange data directly without an intermediary, 'securely, efficiently and in full compliance with regulations'; and is used by 7,000 organizations.

The round included investment from travel industry veteran Amadeus, Japan's Itochu Corporation, Bouygues Construction and a French web entrepreneur, as well as existing investor Caisse des Dépôts; and brings total funds raised to date to more than EUR 12m, including a recent grant from the EU Research & Innovation programme.

Dawex, whose co-founders and co-CEOs Fabrice Tocco and Laurent Lafaye will remain majority shareholders with full control over the company's strategy and operations, says its mission is 'to create the conditions for the smooth development of the data economy by facilitating the exchange of data between companies and organizations'. The new money will also help establish the firm in Asia and the Middle East, while accelerating its development in Europe and the United States.

Tocco says of the latest news: 'Dawex is excited to bring together such high-profile corporations and leaders in their respective markets to invest in our data exchange technology. Their engagement as corporations in supporting our innovation reflects the strategic role that data exchange platforms play in today's organizations and how they could impact the future of our economy'.

Dawex was formed in 2015 and has offices in Paris, Lyon, San Francisco and Montreal. It is online at www.dawex.com .

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