IVEX raises a new seed round to advance the safety of autonomous driving and driver assistance systems towards Vision Zero.
Brussels, Feb 23, 2023.
Contact: info@ivex.ai
IVEX is a start-up founded in 2018 that develops testing and validation tools for Autonomous Driving and Driver Assistance Systems (AD/ADAS). IVEX software drastically improves testing and validation of AD/ADAS systems and their safety by identifying edge-cases in very large datasets, categorizing driving scenarios, via its advanced open data analytics platform that can be connected to existing toolchains from customers and its runtime validation software.
IVEX’s tools are essential to companies developing AD/ADAS solutions. IVEX technology supports a leading worldwide freight transport technology company and customers spread from the US, EU, and Asia.
Seeing this enormous potential, renowned investors PMV, SPDG, The Faktory Fund, Noshaq, and Dedicated participated in this funding round to further support the company to achieve its mission.
IVEX’s CEO & Co-Founder Mario Torres highlighted that “This new funding round is an excellent opportunity for IVEX to pursue its goals, attract new talent and competences to better serve its customers. It also shows IVEX team strength, resilience and customer adoption in a market that has seen a lot of hype in the past years.”
Hoang Tung, IVEX’s CTO said that “Over the past years, we learned a lot about the pain points in developing and delivering safety and autonomy. Our products are getting more and more mature. Thanks to this funding round, we can accelerate our product development and offering. We are happy to have great investors who continuously support our mission”.
A word from IVEX’s investors:
“Safety is the main challenge to solve when it comes to autonomous driving. We at Dedicated firmly believe the suite of tools developed by IVEX will be extremely useful for autonomous vehicles, and we are convinced the team behind Mario Torres is best positioned to tackle the different safety challenges the industry faces.”
Olivier Tabery,
Head of Investments, Dedicated
“At PMV we strive for a profound societal impact with the companies we invest in. We believe IVEX with its expertise in the safety of autonomous driving vehicles will definitely play an important part in shaping the future of transportation. Therefore we are excited to be part of the next chapter of IVEX story to make our roads safer for everyone.”
Roald Borré,
Group Manager Venture Capital, PMV
About IVEX investors:
PMV is an investment company shaping the economic future of Flanders. PMV finances promising companies from early start-up through growth and internationalization. PMV offers tailored financial solutions to entrepreneurs with a good business plan and a strong management team through capital, loans and guarantees. PMV also realizes with and for the government, in cooperation with various partners, projects that are important for prosperity and well-being in Flanders. PMV has a portfolio with 1.65 billion euros under management.
SPDG is the holding company of the Périer-D’Ieteren family, recognized for its active role as one of the two major shareholders of the D’Ieteren Group, its entrepreneurial vision in its investment portfolio and philanthropic involvement.
The mission of SPDG is twofold. On the one hand, SPDG takes on the professional management of its strategic shareholding in D’Ieteren. On the other hand, through SPDG Ventures and Capital it aims to partner with entrepreneurs in companies that have a lasting impact on society.
The Faktory Fund is a private Early-stage Investment Fund founded by Pierre L’Hoest, the former CEO and founder of EVS Broadcast Equipment, and Simon Alexandre (CETIC, Nest’Up).
The Faktory Fund invests in startups developing disruptive technology that enables new products to take worldwide leadership in B2B markets primarily in the Internet of Things and Software as a Service (SaaS) startups located in BeNeLux and France.
Noshaq is an investment fund and project developer with a portfolio of 469 companies. Noshaq is the reference financial partner for the creation and development of SMEs in the Liege region. Over the years, Noshaq has developed a variety of financing vehicles, which are fully in line with market needs and trends, as well as its strategy. All services offered by Noshaq are always designed according to the needs and requirements of the client investor. The goal is to ensure that, at all times, we have a lever effect on the development of his business.
Dedicated is a European tech-focused deal-by-deal venture firm with a portfolio of 30+ companies, funded from seed to pre-IPO. Free of sector and maturity, we aim at building a better future. Our goal is to offer diversified sustainable investment solutions to investors through an opportunistic dealflow of tomorrow’s leading companies.