XXII Receives €22 Million Investment

XXII, a Paris-based company, announced that it has received €22 million in a Series A funding round led by the Defense Innovation Fund, managed by Bpifrance. 574 Invest (SNCF Group's investment fund), CIB Développement (Colas Group), Techmind, Kima Ventures, business angels and Duval Group also participated in XXII's Series A funding round. XXII made this announcement three years after raising €1.5 million in a Seed funding round in 2020.

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XXII

The company says it will use the funds to maintain its market leadership in computer vision through new research and development activities and to recruit new talent. Furthermore, XXII aims to grow by utilizing its technologies on a larger scale and expanding into new local and international markets. XXII was founded in 2015 by William Eldin and Damien Mulhem. It also specializes in the deployment and configuration of video streaming analytics algorithms, offering a SaaS platform called XXIICORE.

The XXIICORE platform is designed to help field teams manage and optimize their operations, enabling faster and more efficient decision making. Users can easily control their video stream analysis algorithms with XXIICORE and focus on other important tasks. XXII has more than 70 employees and aims to democratize the use of vision technologies.