The Toulouse residents of Ffly4u raise 700,000 euros to find their place in B2B IoT

by bold-lichterman

The amount

The Toulouse-based company Firefly4you (ffly4u) announced its first fundraising of 700,000 euros from IRDInov, an interregional seed fund dedicated to the financing of innovative companies in the seed or start-up phase, and a direct partner of Bpifrance. Directed by Olivier Pagès, ffly4u is a low-frequency tracking service system for assets managed by a company (goods, spare parts, pallets, materials, etc.) Every year, manufacturing companies lose millions on goods or assets lost or damaged in transit.

The market

The start-up created in 2015 relies on UNB (Ultra Narrow Band) technologies, such as those developed by its neighbor and French flagship Sigfox. The ffly4u solution aims to reach all industrial manufacturing sectors (aeronautics, food, automobile, chemicals, construction). It intends to ensure the entire chain, from the design and manufacture of the transmitter, to the contract with operators, to the recovery and structuring of data, some of which can be transmitted by SMS or emails. The service also manages the implementation of motion, temperature, noise or opening detection. The objective is to protect these assets throughout their journey.

The ability to track, analyze and secure a company’s assets is of interest to many companies. The latest example, in the maritime sector, where many start-ups are involved in the tracking of freight transport. On the American market is positioned WiseTrack.

The objectives of the Start-up

Ffly4u wants to quickly deploy its IoT B to B solution, in Europe, then in the rest of the world. “It is now essential to move to a new stage in our development. By 2017 we plan to deploy more than 50,000 devices. IRDInov’s entry into ffly4u’s capital is a strong signal to European industry of ffly4u’s desire to become a significant player in the world of industrial IoT ”, explains Olivier Pagès, the President.

Leader: Olivier Pagès

Creation date: 2015

Seat: Toulouse (at the Pépinière d’Entreprises du Grand Toulouse).