Dawex raises €5 million to accelerate the development of the data economy
Dawex, a tech startup that provides a global data marketplace that enables private and public organizations to sell and buy any type of data directly, has raised €5 million to accelerate the development of the data economy. The round was led by Amadeus, Itochu Corporation, Bouygues Construction with a French web entrepreneur entering Dawex’s capital, with participation from historical investor Caisse des Dépôts.
Total funds raised from inception tops €12 million, including the recent €2.5M grant from Horizon 2020, the biggest European Union Research & Innovation program. Dawex co-founders Fabrice Tocco and Laurent Lafaye remain majority shareholders, retaining full control over the company’s strategy and operations.
Founded in 2015 by Fabrice Tocco and Laurent Lafaye, the San Francisco, California-based Dawex is a global data marketplace that enables you to share, monetize, and acquire data without intermediaries. It is designed for all types of private companies and public-sector organizations. They have built a unique trusted third-party platform that combines all the steps and functions for carrying out data transactions in proper form. Their goal is to contribute to building the data economy by making data exchange accessible and secure for all economic stakeholders.
With the rise of Artificial Intelligence, Internet of Things, and the emergence of Smart Cities, among other disruptive trends like the autonomous cars, huge quantities of valuable data are being generated, analyzed and exchanged. New data-driven ecosystems are emerging that organizations can strategically leverage using secure data marketplaces and data exchange platforms.
Since 2015 Dawex mission is to create the conditions for the smooth development of the data economy by facilitating the exchange of data between companies and organizations. This new round of funding will support the company’s ambition to make Dawex the data exchange platform reference, by accelerating its development in Europe and the United States, by establishing itself in Asia and the Middle East, and by pursuing its investment in technology and innovation.
“Data ecosystems are redefining competition, and the most data-driven companies will be the leaders of the new data economy”, said Laurent Lafaye, Dawex co-founder and co-CEO. “Becoming data-driven requires a shift in the enterprise’s mindset and culture, but also the right technology to accelerate, streamline and secure data exchanges internally and externally, in compliance with new data regulations. This is exactly what Dawex provides”.
“Dawex is excited to bring together such high-profile corporations and leaders in their respective markets to invest in our data exchange technology.” said Fabrice Tocco, Dawex co-founder and co-CEO. “Their engagement as corporations in supporting our innovation reflects the strategic role that data exchange platforms play in today’s organizations and how they could impact the future of our economy.”
Today 7,000 organizations from 20+ industries, such as agriculture, air & space, automobile, financial services & insurance, construction, energy, logistics & transportation, retail, telco, travel & hospitality, rely on Dawex Global Data Marketplace and Data Exchange Platform technology to source, commercialize, and share data directly between them, securely and efficiently. Dawex solutions are enterprise-grade and highly scalable also integrating new technologies such as the blockchain.