Earthcube raises 20 million euros from the French Ministry of the Armed Forces and becomes Preligens

by bold-lichterman

The French start-up Earthcube, specializing in the analysis of geospatial data assisted by artificial intelligence (AI), has raised 20 million euros from three funds, including one from the Ministry of the Armed Forces, in order to continue its growth, according to a press release released Thursday. This fundraising was carried out with investment companies Ace Management and 360 Capital as well as with Definvest, a fund of the Ministry of the Armed Forces dedicated to strategic defense companies, details the ministry’s press release.

Name change

Founded in 2016, the company Earthcube, which changes its name to “Preligens”, counts with this lifting “ maintain its technological lead on artificial intelligence subjects applied to the defense and intelligence sector ”. The company of 80 people, based in Paris and established in Washington and London, also wants ” continue and intensify its international development ”.

“The applications of this national nugget are essential for the defense sector”, comments Minister Florence Parly, quoted in the press release. “They bring us real operational gain for the use of our geospatial information: without Preligens we would not see certain things”.

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AFP