Bpifrance invests €6.5m in EasyMile, the leader in autonomous vehicle solutions, to speed up its development
Paris, 17 September 2018 – Bpifrance is supporting the growth of EasyMile, a pioneer in the development of autonomous vehicle solutions, by investing €6.5 million in the company, joining the founders as well as industrial shareholders, Alstom and Continental.
Founded in 2014 and based in Toulouse, EasyMile is a world leader in driverless autonomous systems, with strong expertise in robotics, artificial intelligence and dynamic modelling. It offers innovative passenger transportation and logistics solutions to transport operators and vehicle manufacturers. EasyMile is best known for its fully-electric autonomous shuttle, the EZ10, which transports up to 15 people and has been successfully rolled out in over 200 sites worldwide. EasyMile technology can also make any vehicle platform autonomous, in collaboration with leading industrial partners such as TLD (a world leader in airport ground transportation).
After four years of operations, EasyMile now has 150 employees in five offices (Toulouse, Berlin, Denver, Singapore and Melbourne). The company has established large-scale technical and commercial partnerships with prestigious industrial groups such as Alstom, Continental and TLD.
“We are pleased to welcome Bpifrance as an EasyMile shareholder, alongside our industrial partners. This fundraising reinforces the strategy adopted by EasyMile and will enable us to accelerate our technological and commercial development, while benefitting from Bpifrance’s network and expert advice,” said Gilbert Gagnaire, CEO of EasyMile.
“As a major player in funding for innovation and the energy and green transition, it was important for Bpifrance to support the development of an ambitious company such as EasyMile in a sector that is both incredibly complex and extremely promising. Gilbert Gagnaire and his team convinced us of the relevance of their technological approach, the robustness of their solutions and the company’s economic model, which will now have increased financial resources, enabling it to continue developing,” said Gilles Schang, Deputy Managing Director of the Ecotechnologies and City of the Future unit at Bpifrance.
EasyMile is a pioneer in driverless technology and smart mobility solutions. The fast-growing start-up develops software to automate transportation, revolutionizing passenger and goods transportation. It has already deployed over 210 driverless projects with more than 320,000 people transported over 250,000 km. Clients include the world’s largest transport operators, city authorities, airports, corporations, business parks, and universities. EasyMile has a global presence with headquarters in Toulouse (France) and regional offices in Denver (USA), Berlin (Germany), Melbourne (Australia) and Singapore. The Company employs over 150 highly-skilled and passionate employees.
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extrafinancial services (training, consultancy…). to help entrepreneurs meet their challenges (innovation, export…).