Total Energy Ventures (TEV), the venture capital arm of Total that
invests in start-ups, said on April 27 that it has acquired an interest
in Xee, an open platform that collects, processes and manages data from
connected vehicles.
Founded in Lille, France, in 2012, Xee creates value for its clients
optimising their operations and suggesting them new offerings. Potential
customers include auto service centers and vehicle fleet managers who
want to develop predictive maintenance solutions, insurers looking to
provide pay-as-you-drive solutions, and businesses interested in
real-time marketing, Total said in a press release.
“Acquiring this stake enhances TEV’s portfolio of digital solutions.
Connecting cars to the cloud is an important building block for the
mobility of the future. Xee stands out from its competitors through the
wide range of vehicle models and brands covered by its platform and the
quantity of data collected and analyzed,” Total Executive Vice
President, Strategy & Innovation
Philippe Sauquet
said. “We therefore want to support the growth of this data management
platform, which both creates new relationships with vehicle owners and
improves user experience in the long term,” he added.
This funding round will enable Xee to accelerate the commercial
deployment of its platform begun in 2016, invest to maintain its
technological lead and expand the use of artificial intelligence to
manage the data, Total said, adding that it will sit on the company’s
Board of Directors as an observer.
Total Energy Ventures is Total’s venture capital arm for investing in
energy start-ups. Its investments support the development of innovative
businesses in areas such as renewable energies, energy efficiency,
energy storage, digital energy and sustainable transportation.
https://www.neweurope.eu/article/total-energy-ventures-invests-xee/