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Geoflex Wins Jury Award at SPRING50 Competition

By: Issuewire
Romain Legros CEO Geoflex  SPRING50

Largest deep tech French startup competition honors Geoflex

Massy, Essonne May 25, 2021 (Issuewire.com) - Geoflex, a SaaS provider enhancing GPS/GNSS-based applications, has won on May 20th the Jury Award of SPRING50, a competition of deep tech startups taking place in Paris-Saclay, the largest French research cluster South of Paris which alone produces 15% of French R&D.

Geoflex's technology, based on 7 patents exclusively licensed from the French Space Agency CNES, offers centimetric level hypergeolocation to many markets: from trains to cars, smartphones, off-shore platforms, agriculture machinery, drones, and more.

The size of the overall market is significant, the EUSPA (European Union Agency for the Space Programme) estimates the market of GNSS augmentation to reach 42 Billion in 2025, up 12% per year from 2020. Geoflex is well positioned in this segment, currently working with 6 of the 40 largest French companies (CAC 40 index) and developing its business overseas.

After demonstrating its technology and helping the first integrators to use it, Geoflex has started discussions to raise 5 million in a Series A round of funding to accelerate its commercial and marketing development.

"We are very happy and very proud of this award," said Romain Legros, CEO of Geoflex. "Since our inception, we have been part of the Paris-Saclay ecosystem which helped us to grow, milestone after milestone, both for technology and business, mainly through the excellent incubator IncubAlliance. I would also like to thank the CNES for its unwavering support and the trust they place in startups to develop the New Space."

Sara Thompson, Strategic Partnership Manager at Danone Research and President of the SPRING 50 Jury, commented: "The jury is pleased to award a start-up active in the region developing a key technology that will be used for the multiple sectors of activity that are present at Paris-Saclay. We are confident that Geoflex will represent the excellence of this innovation campus."

 

About Geoflex
Geoflex is a cutting-edge cloud service operator enhancing GPS/GNSS-based applications to 4 centimeters positioning on land, at sea, and in the air.

Geoflex provides universal hypergeolocation to trains, cars, vessels, drones, smartphones, and more, working with the leading worldwide players in these markets.

This hypergeolocation system is based upon a unique alliance between a portfolio of technology patents developed for more than 10 years by French space agency CNES, and a seasoned team with 30 years of experience in GPS/GNSS.

Geoflex has been founded in 2012 by Romain Legros, a serial entrepreneur in GNSS. The company is headquartered near Paris, France.

Romain Legros CEO Geoflex  SPRING50Jury Award SPRING50

Media Contact

Geoflex - Ludovic Privat


ludovic.privat@geoflex.fr

https://www.geoflex.xyz/

Source :Geoflex

This article was originally published by IssueWire. Read the original article here.

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