- This new round of funding led by Supernova Invest and marked by the arrival of Frédéric Bruneteau, an expert in connected vehicles, also benefits from the renewed support of Bpifrance and the historical investors of CORE FOR TECH.
- In addition, the startup receives significant government financial support linked to the France Relance plan, via the SERENITE project led by Valeo and supported by CORAM*, which supports innovation to face the challenges of the automotive sector.
- A decisive step at a time when the European Commission obliges European countries to mobilize their efforts in the fight against falling asleep at the wheel.
- The unique technology of the CORE FOR TECH software, which measures upcoming fatigue as well as the driver’s physiological data in real time, allows carriers, car manufacturers and suppliers as well as groups pursuing a proactive CSR** policy to make their drivers more secure, anticipate European regulations… and save lives.
A Lille startup which saves lives and addresses CSR issues
In 2018, in collaboration with a team of researchers from the Regional Medical Center of Lille, CORE FOR TECH developed an innovative scientific solution unparalleled on the market. This system measures the first physiological signs of driver drowsiness before they are felt by him. The technology processes signals indicative of heart rate variability. As a reminder, 1 out of 3*** fatal accidents on the motorway are caused by drowsiness.
This system is designed for carriers, car manufacturers and suppliers and large listed groups subject to high CSR stakes.
« For us, this new fundraising comes in a very favorable context, as a new regulation issued by the European Commission obliges European countries to take strong action against falling asleep at the wheel. As a result, all players in road transport, construction or automotive equipment are compelled to strengthen safety on board their vehicles », says Nicolas Vera, President of CORE FOR TECH.
« Added to this is the government’s strong desire to finance innovation, particularly in the automotive sector. This subsidy shows that they have understood our technology’s potential to save lives. All indicators are green for the development of our company. »
Fundraising with a dual objective
After a first round of funding of 1.4M EUR in Seed in 2018 intended for developing its R&D, with Business Angels such as Damien du Fretay (Investor), Régis Dodin (Realease Capital), Jacky Joyaux and an investment in the project by Bpifrance, CORE FOR TECH is now bringing in the Supernova Invest fund. Historical investors are also reinjecting funds together with a few other Business Angels such as Frédéric Bruneteau, a recognized expert in connected vehicles.
CORE FOR TECH’s objective is to recruit the best talents in the technical and commercial fields to disseminate its technology in Europe, which requires tripling its workforce by the end of 2022. The company wishes to structure itself in order to adapt to its strong growth and market challenges. CORE FOR TECH has already demonstrated its technology’s unique value and intends to become the market leader in this field.
Over a million kilometers already traveled with CORE FOR TECHTM
CORE FOR TECH is planning to equip between 12,000 and 15,000 vehicles by the end of 2022.
Thanks to the information gathered on their own drivers through the system installed in their trucks or motor vehicles, the managers of these companies can adapt their organization to improve the safety of their drivers, of all other road users and, where appropriate, of their merchandise, without any loss of productivity.
For a company linked to road transport, efforts to limit accidents are important, commensurate with possible financial, physical and psychological impacts. In addition, a study conducted by Made in Vote for CORE FOR TECHTM in June 2019, revealed that 70% of the drivers would be interested in using software embedded in their vehicle to detect the first signs of fatigue in order to enhance their safety.
A technology that stands out by detecting the first signs of drowsiness at a very early stage
When it comes to fatigue, it is impossible to assess yourself. When the visible signs start to appear (blinking eyelids, neck stiffness, etc.), it is already too late.
The CORE FOR TECH technological solution, installed at the core of the vehicle, ensures driver safety based on the variability of his heart rate. It differs from other tools offered on this market, not only by its proven ability to identify the very early signs of falling asleep, but also because it is ergonomic, reliable, universal and economical.
It is ergonomic because it operates by measuring drivers’ physiological data in real time and getting them to stop at the right time. It also records current and future contextual data, including traffic conditions, weather, type of road or driving times, thus protecting all road users.
François Breniaux, Partner at Supernova Invest, explains: « Substantial efforts have been made over the past thirty years to improve road safety with undeniable success, particularly in France. CORE FOR TECH has been able to integrate the unique know-how of a team from the Lille Regional Medical Center in order to offer a robust and economical solution to prevent the risk of falling asleep, which to this day remains little addressed and represents a significant proportion of night-time accidents and accidents with heavy goods vehicles. Nicolas and Stéphane have successfully demonstrated the relevance of relying on a signal from a biological parameter associated with the nervous system to obtain the best predictive results on the market in a scientific evaluation framework. We are convinced that this solution will be adopted by a large fraction of European drivers at risk in the years to come for their greatest benefit. »
Frédéric Bruneteau, CEO and founder of PTOLEMUS and an expert in connected vehicles comments: « CORE FOR TECH is creating a new category in the rapidly expanding market for risk management related to fleet operators. We estimate that these solutions will equip 93 million fleet operators by the end of the decade, generating annual revenues of 3.8 billion USD for their suppliers. While most offerings focus on changing driving habits, CORE FOR TECH’s solution is the first to address the major problem of driver fatigue by detecting its first symptoms before they take effect. »
Joachim Mathes, Chief Technology Officer of Valeo’s Comfort and Driving Assistance Division adds: « Assessing drivers’ attention is at the heart of the SERENITY project that we are conducting with various partners, including the CORE FOR TECHT start-up. With its expertise in measuring early signs of fatigue, CORE FOR TECH will play a key role in the solutions we will develop to keep drivers vigilant in tomorrow’s vehicles. »
(*) CORAM: Steering Committee for Automobile and Mobility Research
(**) CSR: Corporate Social Responsibility
(***) ONISR data – French Road Safety Observatory
About Supernova Invest
Supernova Invest is the pioneering management company and leader in deep tech investment in France, managing and advising 6 funds totaling 400 million EUR. As a specialist in investing in disruptive technology start-ups, Supernova Invest is focusing its efforts on four major areas of expertise: industry, healthcare, energy & environment, and digital technologies. Its team’s 20 years of experience in technology investment have enabled it to support over 100 of the most innovative companies in their segments, from inception to maturity. Supernova benefits from a privileged partnership with CEA (a major player in research, development and innovation) and with Amundi (Europe’s largest asset manager).
Supernova Invest has invested in the company FIPSICO/CORE FOR TECH through the Supernova 2 fund.
Find out more: https://supernovainvest.com/
About CORE FOR TECH
CORE FOR TECH, set up in Lille in 2015, has developed, together with a team of researchers from the Regional Medical Center of Lille, an unparalleled scientific system for the very early detection of falling asleep at the wheel. This technology, based on heart rate variability, measures with the utmost precision the first physiological signs of drowsiness before they become noticeable by the driver. It is aimed at all carriers, equipment manufacturers, car manufacturers, fleet rental companies and all major listed economic groups facing significant CSR issues – a developing market at a time when a new directive from the European Commission forces European countries to take strong action against falling asleep at the wheel.
In 2018, FIPSICO (CORE FOR TECH holding company), chaired by Nicolas Vera, achieved a funding round of 1.4M EUR intended for its R&D, followed in October 2021 by a second round of 3.5M EUR from Supernova Invest and Bpifrance – the historical investors -, and Frédéric Bruneteau, with financial support from the Government, via the CORAM* project led by Valeo and linked to the France Relance plan. It plans to triple its workforce by 2022 to meet the challenges of this market. www.corefortech.com
CORE FOR TECH press contacts
Estelle MONRAISSE – 06 60 41 81 52 – estelle@altercom-conseil.fr
Nathalie TESTU-DUPAS – 06 10 45 25 55 – nathalietestu@bleuindigo-rp.fr
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