French Adveez, a company that specializes in the localization of objects and people through IoT connected solutions, has raised €3.3 million in financing. The funding comes from a group of investors including the company's founders, its existing shareholder Plume Finance, and M Capital Partners, which brought €1 million to the round.
Adveez operates in two markets of the Internet of Things: connected logistics for transportation, and services for vulnerable people. The startup counts some American airports among its customers, which have equipped their service vehicles (luggage vehicles, refuellers, etc.) with their products.
Adveez also has an office in Phoenix in the United States. In 2016, about 70 percent of its turnover was generated outside of France. With the new funding, the Toulouse company plans to invest in its sales department, and hire about a dozen more people.
Read more: Frenchweb.fr (French)