SEB Alliance, the corporate venturing unit of financial services firm SEB, has contributed to a $22.5m series B round for France-based smart data platform Alkemics, La Tribune reported on Wednesday.
Venture capital firms Serena Capital, Index Ventures and Partech Ventures also took part in the round, as did Cathay Innovation, an affiliate of private equity firm Cathay Capital.
Founded in 2011, Alkemics operates a software-as-a-service that enables producers to manage real-time information about their products and share it with retailers.
The platform simplifies the backend process, for example, of a grocery retailer listing details such as the nutritional value of a yoghurt.
The money will fund an international expansion beginning with Spain and will drive recruitment across Alkemics’ commercial, marketing and technology teams.
Alkemics raised $5.5m in a March 2015 series A round co-led by Index and Partech that included Chausson Finance and SEB Alliance, the latter having provided an undisclosed amount of seed capital for the company in 2012.