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Nexess raises 2.5 million euros to accelerate development

Seventure Partners and PACA Investment, the co-investment fund created by the Provence Alpes Côte d’Azur region with financial support from the EU (ERDF), invested 2.5 million euros in the company Nexess to support its international development.

Sophia-Antipolis, March 1st, 2013 – Founded in 2008, Nexess is the leading provider of RFID solutions designed to improve the performance and MRO process safety (Maintenance, Repair and Operations). The company developed a unique range of products like NexTrack® a real-time monitoring solution of maintenance operations and exploitation dedicated to the Oil & Gas industries, or NexCap®, Smart RFID cabinets securing tools inventories for the Aerospace industry.

All these solutions are used by industrial references from Energy, Nuclear, Petrochemical and Aerospace sectors to improve the performance and the security of their maintenance and exploitation processes. They deployed these solutions on dozens of sites and hundreds of key points in their infrastructures.

Nexess expertise allows it to meet the requirements of industries with severe environmental constraints (ionizing radiation, explosive atmospheres, high temperatures, etc.) and to propose an innovative software solution allowing its clients to manage the use of RFID products installed.

Directed by Frédéric Galtier who especially has an experience of over 15 years in the nuclear sector at EDF, Nexess was labeled by the competitiveness cluster SCS and received in 2010 the award of the best start-up in European RFID Awards framework. This company has also been driven since 2010 by CEA Investment and Primaveris.

This new fundraising of 2.5 million euros, from Seventure (1.5 M €) and PACA investment (1 M €), will accelerate the development of Nexess internationally just as the distribution and the support network from major accounts in targeted industries. The company is expected to double its turnover in 2013.

Frédéric Galtier, Founder and CEO of Nexess : “Our products allow to make communicating infrastructures to supervise on the field the performance of maintenance operations and exploitation. Nexess solutions improve the availability of production sites and reduce maintenance costs” says Galtier, Founder of Nexess. “We are glad of the entry of investors as Seventure and Paca investment that will allow us to accompany international large industrials of the energy, aerospace and petrochemical sectors.”

David Manjarres, Associate Director of Seventure, said : “Nexess developed products and technology solutions wich are robust and efficient for the traceability of processes, goods and persons, already deployed to industrial customers in nuclear, petrochemical and aerospace sectors. Our investment aimed to accelerate the expansion of its business development especially internationally, while offering new innovative solutions meeting specific needs of these sensitive industries wich must cope with safety and functionning security constraints very demanding”.

Jacques Boulesteix, President of PACA Investment, added : “The PACA Region, through Paca Investment is delighted to go with the company Nexess and its director, Frédéric Galtier. In a few years Nexess has developed a portfolio of innovative and patented solutions that perfectly meet problems find on all industrial sites. Most of its solutions come from needs expressed by EDF when Frédéric Galtier worked there. Nexess partnerships with major retailers will allow the company to continue its deployment with large accounts and dual diversification, sectoral and international. Nexess is a regional innovative company with high potential that the PACA Region wished to support”.

Frederick Martin, investment director at CEA Investment, completed : “CEA Investment is delighted of the remarkable process made ​​by Nexess up to now and is pleased that investors like Seventure and PACA Investment join the company to strengthen and accompany this new phase of its development. “

About Seventure Partners : Active partner of companies with high growth potential, Seventure Partners invests since 1997 in innovative sectors, particularly in French and European companies evolving in the markets of Technology of the Information and Communication as well as Life Sciences. Managing approximately 450 million euros, Seventure Partners urge as one of the leading European venture capital. Seventure Partners is a subsidiary of Natixis. For more info : www.seventure.fr

About PACA Investment : PACA investment is the fund of regional co-investment established in 2010 by the Provence Alpes Côte d’Azur region to support the emergence and development of local and innovative companies. This SAS endowed with 15.45 million euros, get the support of Europe through funds ERDF (European Regional Development Fund) for 50% of its capital. Since July 2011, the fund, whose management was entrusted to Turenne Capital, has already invested in 16 innovative regional companies for a total amount of 6.2 million euros.

About Turenne Capital : Founded in 1999 and based in Paris, Lille and Marseille, Turenne Capital, independent major player in private equity, supports entrepreneurs in their growth operations (organic growth, international expansion, acquisition) and as part of transmission operations of their capital. Turenne Capital Group manages 415 million euros whose 150 million euros on behalf of institutional investors through various funds whose Turenne investment listed on Alternext and Paca Investment, and the balance for account of policyholders individuals through FIP and FCIC .

About CEA Investment : CEA Investment, company with a capital of 27 million euros, is the subsidiary of Investment of CEA, a major institution of technological research, development and innovation. CEA Investment invests in initiation of innovative startups developing technologies in the areas of activities of the CEA. These areas include in particular technologies of the information, microelectronics, health, energy and environment. www.cea-investissement.com