France-based automotive data analytics provider Xee has raised more than €12m ($13.2m) in funding from investors including car and truck parts manufacturer Bridgestone and petroleum producer Total.
The round also featured Cofip, a subsidiary of public research organisation IFP Energies Nouvelles, and Via ID, the startup accelerator subsidiary of car services provider Mobivia, which participated as an existing investor. Total took part through its Total Energy Ventures subsidiary.
Xee is a spinout of car repairs company Norauto, itself a subsidiary of Mobivia. The company has developed a box that connects to a car’s on-board systems to extract and analyse 80 data points including information on the condition of the vehicle’s battery and tires.
Third-party developers are able to access this data to create smartphone apps for drivers. The funding will support an international expansion, beginning with other European markets, as Xee seeks to reach 130,000 installations of its product by early next year.