Deepomatic has completed a €10 million Series B financing round
Paris, November 28, 2022. Deepomatic has completed a €10 million Series B financing round. This fundraising will stimulate the company’s expansion in Europe, the United States and Latin America, and will allow it to continue to address the telecom sector and win new customers in the energy and mobility sectors. Two new investors participated in the round: the corporate investment fund EnBW New Ventures of the German utility company EnBW and a leader in infrastructure Orbia, via its corporate venture capital Orbia Ventures. They join the existing funds – Hi Inov-Dentressangle, who doubled down its investment, Alven and Swisscom Ventures – who renewed their confidence in Deepomatic’s future.
Artificial intelligence for critical infrastructure and communication networks: a new deal for the field
Many countries in Europe and North America are suffering from a shortage of technicians to deploy and maintain vital infrastructures and communication networks (water, electricity, fiber optics, 5G), which is slowing down digital and energy transition projects in their territories. On the other side, fast-growing regions such as South America are building their first networks and want to rely on technology to get them mapped from the start.
Under pressure from the increasing number of operations, technicians lack the time to accurately describe their work. In fact, their declarative reporting via forms is often incomplete, which ultimately prevents companies from having an overall view of their networks.
Deepomatic provides a solution that allows companies to enrich reporting and automate the quality control of their operations, thanks to the analysis of photos captured by field workforce on a daily basis. All field work is documented and analyzed by the AI-based platform.
“Due to staff shortages and cost pressures, many companies are facing major challenges with their service technicians. High quality and customer satisfaction are simultaneously becoming increasingly important. We believe that Deepomatic, as a technology leader in field service digitization, offers a big part of the solution to these challenges”, states Theodor Schulte, investment manager at EnBW New Ventures.
Deepomatic’s Visual Automation platform consists of an image recognition engine, a mobile application for technicians or field agents and browser-based business solutions for monitoring and support teams. The whole package is available via API to integrate with business software. Among them: ServiceNow, Microsoft Dynamics, IFS, and many proprietary customer applications.
Deepomatic enables :
– A significant productivity gain thanks to real-time anomalies detection so that technicians can do their job right the first time,
– The scaling up of quality control,
– An easier access to operational data across various departments of the companies,
– A more productive maintenance planning based on a complete and reliable representation of the infrastructure and equipment fleets, to ensure their long-term service life.
– To reduce field workforce travel and optimize component consumption, for a lower environmental impact
10 million euros to expand globally and to tackle new verticals in field services
Today Deepomatic assists 20 large telecommunications and utility companies, supports 20,000 technicians and operators in their daily tasks and generates 1 million operational analyses each month on its platform.
The start-up has demonstrated the benefits of its solution in the telecom sector by supporting local and global players such as Bouygues Telecom, Swisscom, CityFibre, Movistar (Telefonica group) or Sogetrel. Deepomatic is also responding to strong challenges in the utility sector by supporting the Belgian leader in field services – Unit-T – in the deployment of smart energy meters.
This fundraising backed by industry leaders will allow Deepomatic to accelerate its development in multiple sectors relying on mobile agents to deliver their services: renewable energy, electric mobility, construction, insurance, etc. The start-up wishes to apply the recipes of its success to better support all these players. Furthermore, it will allow Deepomatic to:
– accelerate its international footprint, in Europe, the United States and South America,
– invest in its technology, to help companies base their IT systems and field processes on data,
– and develop predictive industrial maintenance.
We are really pleased to be part of this round of funding that will help Deepomatic achieve its growth potential. Deepomatic is a company that shares our values in pioneering new innovations that can help advance life around the world,” said Eitan Dekel, Managing Director of Orbia Ventures. “Deepomatic’s leading visual automation platform is pioneering in its use of AI technology for field operations and has many synergies across Orbia’s business groups. Working together, we aim to help develop and move the technology into new sectors and regions.”
Deepomatic already has close to 70 people on its teams, and to keep up the momentum, the company recently hired a VP of Sales, Julien Moreschetti, and intends to hire more than 50 people by 2024.
“We are thrilled to welcome two new international investors for this new chapter of Deepomatic’s history, which symbolizes our strong growth ambitions abroad.” says Augustin Marty, CEO of Deepomatic. “The arrival of EnBW New Ventures as part of a German utility group and Orbia Ventures with its global footprint in utilities and telecom and its roots in North America, will help us reach new clients and provide us with operational expertise to accelerate our international deployment. I also want to thank our existing investors, who unanimously decided to reinvest in Deepomatic, for their renewed confidence”
The Visual Automation platform of Deepomatic enables companies to get a complete, real-time and objective view over what happens during their numerous field operations. With Deepomatic, these companies leverage powerful & reliable field data extracted from routine field pictures to empower their frontline workers, increase their quality of service, automate operational processes and derive long-term infrastructure ROI.
With 70 employees, Deepomatic is trusted by major clients in telecommunications, utilities, hospitality or insurance across 3 regions. Close to 20,000 field workers employed by companies such as Bouygues Telecom, Swisscom, CityFibre, Telefonica, Circet, or Unit-T, use Deepomatic software on a daily basis. Our platform analyses close to 1M operations every month, and thereby accompanies our customers in the scaling of their field activities.