Braincube has just completed an €83 million funding round with investment fund specializing in development capital, Scottish Equity Partners and Bpifrance. A leader in data platforms for industrial applications, the company, located in Issoire, in Puy-de-Dôme, intends to pursue its international ambitions. Your technology, which allows optimization of production chains thanks to artificial intelligence, is already used in companies in more than 35 countries. It also develops three quarters of its activity internationally. And now it wants to go further into the United States, its first market ahead of France.
“This fundraiser will allow us to strengthen our local sales teams. Every year we see growth of 30 to 50% in the country. The market is very dynamic, they are at the forefront of digital transformation and we want to strengthen our positions. In particular, we are going to install an indirect sales section because we have recently entered into partnerships with Microsoft and Aveva (the world leader in software for manufacturers, editor’s note). They enrich their offers with our apps”, explains Laurent Laporte, CEO of Braincube. It’s him who founded the company in 2008.
Thanks to this operation, Braincube, which will end the year between 20 and 30 million euros in turnover, now has a target of 100 million euros within 5 years.
Potential market of 20 billion euros
It must be said that the market is gigantic and stable. Above all, Braincube has been able to carry out large deployments in recent years, which reassures both investors and potential customers, industrialists who are increasingly looking for optimization solutions.
“We estimate the potential turnover we could achieve in the geographic areas we cover at 20 billion euros. We target industry, but you can imagine the number of sites that exist in Europe and the United States alone. Our market is all automated production lines, those that transform the material, all mass products, complex products”, indicates the manager.
Today, Braincube has around a hundred clients, the vast majority of which are large international groups (American, Brazilian, Swiss, etc.) and CAC 40 companies (LVMH, Safran, Saint-Gobain, Michelin, Schneider Electric… ). They equip between 350 and 400 locations with software that allows these companies to improve their performance and profitability through artificial intelligence.
In particular, it suggests that they reduce energy consumption. What is of greatest interest companies of the steel industry, the plastics industry and even industrial stationery, which are particularly energy intensive.
“We solve quality and waste problems, we reduce consumption… We will seek profit in these factories by doing better with what they have. It is obviously very sought after”, explains Laurent Laporte, who specifies that Braincube is the software publisher that is most technologically advanced (20% of turnover reinvested in R&D).
O Algorithms developed by Braincube are capable of making predictions and factory management prescriptions, offeringtailored solutions. According to the group, its Customers have already achieved more than $10 billion in savings and reduced their carbon emissions by 2.5 million tons.
With these results, the software publisher had no difficulty finding investors. She even received several offers before accepting them. in Scottish Equity Partners (SEP) and Bpifrance.
“ Braincube is an impressive company that offers complex products with a high barrier to entry, has renowned customers and has already demonstrated exemplary growth. The company occupies a prominent place in a dynamic market, driven by the development of Industry 4.0”, comments Angus Conroy, partner at SEP.
Braincube currently has more than 250 employees in France, Europe, the United States and Brazil, but the company intends to triple its workforce within 5 years. It had already completed a first fundraising, in 2018, of 12 million euros with IRIS Capital and Next47.