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LuxCarta Announces Investment for its Growth Strategy

By [email protected] - 14th June 2016 - 16:50

LuxCarta Joins CM-CIC Investissement and BNP Paribas Développement to Support its Expansion

Based in Sophia-Antipolis, France, LuxCarta specializes in processing satellite images to create 3D models. The company was created by the merger of GeoImage and ComputaMaps in 2013. Following the departure of one of LuxCarta's four co-founders and associates, the directors sought two financial partners to restructure its capital and execute its international development strategy, particularly via external growth. CM-CIC Investissement and BNP Paribas Développement have invested €2.5 million in total.

With revenue of €10 million in 2015 and 115 employees, LuxCarta generates 90% of its sales internationally. The modelling and enrichment of 3D mapping data employs cutting-edge technology for end products used in telecom engineering, urban planning, real estate, the public sector, defence, the environment, aerospace, tourism and archaeology. The global commercial geodata market was estimated by EuroConsult at USD 1.5 billion in 2012. LuxCarta uses proprietary software to make its products and was the first to launch the use of automated algorithms for creating terrain and advanced surface models. These internal tools enable it to produce digital terrain, land use and building models.

"The capital restructuring gives us a fantastic opportunity to realize our growth strategy by working with solid and experienced financial partners that invest in equity with a long-term vision. This approach to investment appealed to us," explained the founders Albéric Maumy, Lionel Laurore and Justin Hyland, who plan to double the company's value in the next five years.

Fabienne Mazières, Director in CM-CIC Investissement and Clara Zimbris, Business Development Manager, added: "This should be welcome news. Several factors justify the investment, not least the complementary skills of the ownership team and the strong potential of applying their technologies to other vertical markets."

Read More: 3D / 4D Satellite Positioning, Navigation & Timing (PNT) Cartography GIS Satellite Imaging Image Processing / Analysis Education & Research

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