OCTOBER 2023
PRIVATE PLACEMENT
Wheere is a revolutionary technology in the field of indoor & outdoor geolocation. The company aims to become the new worldwide standard by offering global coverage via satellites and an ASIC chip (specialized integrated circuit) that can be integrated into any existing phone or tracker.
To finance its development, Wheere has just closed a €11m Seed round from Blast.Club (represented by Anthony Bourbon and Eric Larchevêque), Sofilaro Innovation, Bpifrance and business angels: Arnaud Frey (founder & CEO of Extia), Adrien Montfort (co-founder & CTO of Sorare) and Arthur (TV producer and host).
The founding team has developed a unique system capable of providing a 3-dimensional position (x, y and z) with metric precision, in both outdoor and indoor environments, where GPS signals are denied. Wheere’s objective is to address several verticals (from security to logistics to construction), with the ultimate goal of mass adoption via global satellite coverage.
The €11m Seed round will enable Wheere to continue financing its R&D, in particular to develop an ASIC (specialized integrated circuit) enabling sensor miniaturization and module production cost reduction, begin industrialization and deployment of its solution, and strengthen the team by recruiting the best profiles.
Pierre-Arnaud Coquelin, CEO and co-founder of Wheere commented: “I’m delighted to welcome the Blast.Club (with Eric Larchevêque), and Sofilaro. I’m certain that the complementary nature of their expertise will benefit the company. Eric has already scaled a hardware start-up with Ledger, which has become a unicorn. His support will be a great help in enabling Wheere to scale up. Sofilaro, for its part, enjoys an excellent reputation in the Montpellier area. We believe their presence will help us recruit the best talent in the region.”
Anthony Bourbon, CEO and Founder of the Blast.Club adds: “Wheere is the first deep tech project in which the Blast.Club invests alongside Eric Larchevêque. Wheere is developing a geolocation technology that is unique in the world, patented and in its first POCs. The lack of a reliable, scalable indoor/outdoor geolocation solution has been an issue for national security, corporate security and mainstream security, until now.”
Lucas Grillard, Investment director at Sofilaro states: “We are delighted and proud to support Montpellier-based deep tech Wheere, which represents the first investment of Sofilaro Innovation. Wheere has developed a breakthrough technology in the indoor geolocation market, which has already demonstrated remarkable performance in terms of three-dimensional precision. We are convinced that it will enable us to meet concrete strategic needs in the short term.”