Infinit raises $ 1.8 million: “no servers, no NSA”
The French start-up Infinite, formerly incubated at the Camping in Paris, has completed a fundraising of 1.8 million dollars.
Based in New York for several weeks at the Techstars accelerator, Infinit has received the support of two French venture capital funds, Alven Capital and 360 Capital Partners. In July 2013, the company had already announced a fundraising of 500,000 dollars from the Alive Ideas fund, created by the founder of Clubic (now M6 web).
Infinit was founded in February 2012 by Baptiste Fradin and Julien Quintard, aged 29 and author of a thesis at Cambridge on peer to peer. Infinit specializes in transferring files over the Internet, with direct encryption between two users, without going through a storage system, bypassing the cloud. The peer-to-peer solution allows, on a drag and drop, to store, share and synchronize data from different devices: PCs, laptops, smartphones, tablets… Interestingly, it allows large volume files to be shared, in a short time, unlike, as she likes to say, to her competitors, DropBox, Box, WeTransfer or Google Drive (“No servers. No NSA”…). A detail that can hit home for customers concerned about the confidentiality of the data exchanged. The file sharing market is valued at $ 9 billion.
Infinit currently offers a free version of its version. But its business model will of course orient it towards a paid version, with additional services to the solution.
Baptiste Fradin, co-founder and COO of Infinit:
FrenchWeb: What will be the next big step for Infinit after this fundraising?
Baptiste Fradin: The big step: user acquisition
FrenchWeb: What is the new shareholding distribution? Is there another fundraiser planned?
It remains confidential. There will likely be another more important round later to assert our presence in this market.
How exactly do you approach the market, with big names like Dropbox, Box or WeTransfer opposite? What about the marketing budget?
Marketing is going to be a real challenge for us indeed. Today we have the best product on the market and it is going to be very important to be able to be heard alongside behemoths. A very large part of the budget will therefore be devoted to this area.
FrenchWeb: The Infinit solution does not store data. Tell us about the computer key…?
We have developed p2p technology [Peer-to-peer, nldr] which resulted from the research work of my co-founder, Julien Quintard, during his thesis at the University of Cambridge in England. We also won the National competition of the French Ministry of Research last year concerning the security aspect of our p2p technology.
FrenchWeb: How do you plan to retain your users?
We test and adapt our product based on the retention metrics we get.
FrenchWeb: What will be your approach on the premium version, under development? What precisely will be the services associated with the service?
It is too early to tell. Today, we want to make sure that our product is widely adopted first. The usage trends can then give us clear and pragmatic ideas of a business model to implement.