Carrier of real innovations in the world of connected objects, the BOW group has just closed a €10 million fund raising with NextStage AM. This financial operation, structured by the investment bank PAX Corporate Finance, consists of a minority stake in order to support the ambitious development plan of the BOW group (Be Over the World).
Specialist in connected objects and associated services, BOW raises €10 million from the NextStage AM investment fund. BOW, which brings together MyKronoz and Roadeyes, is growing rapidly and profitably and is on the verge of surpassing the threshold of one million products sold. With a global presence, BOW operates in both the wearable technology (smartwatches and activity trackers) and connected automotive markets.
This investment will enable the group to accelerate on the American and Asian markets with the creation of subsidiaries in the United States and China. The ambition is also to develop new innovative services, based on the explosion of social networks and the emergence of an economy in which individuals are increasingly connected and guided by the value of their emotions. Connected objects open a new stage in the way we communicate, share and move. These are all opportunities for the BOW group to lead and federate a worldwide community of users, in particular around the MyKronoz brand.
“We are now seeing hyper-connectivity among users with a rise in their mobility and a regeneration of social ties resulting from the third industrial revolution. The fully connected Internet connects men and women, their data and objects in a digital ecosystem. Now global, it offers real opportunities to develop connected products adapted to our new lifestyles. We were seduced by NextStage AM’s team, its entrepreneur-investor values and its strategic vision around the Industrial Internet,” observes Boris Brault, founder and CEO of the Group.
“By shaking up existing economic models, the world of connected objects and their ecosystems are creating great growth prospects,” says Nicolas de Saint Etienne, Partner of NextStage AM. We have chosen to accompany Boris Brault, a young entrepreneur, who has already created and led several companies to success, because we share his remarkable vision of listening to the demand of young audiences, the most demanding and therefore the most driving.
About BOW Group :
The BOW (Be Over the World) group brings together MyKronoz and RoadEyes.
MyKronoz : Created in Geneva in 2013 and present in more than 40 countries, MyKronoz has already become a reference in wearable by offering a complete range of smartwatches and activity trackers, both design, trend and accessible to the greatest number of users thanks to iOS, Android & WindowsPhone accounting. MyKronoz is distributed by major retailers in France such as Orange, Boulanger and FNAC, in North America by Walmart and Staples, in Japan by Yodobashi and in Hong Kong by HMV (www.mykronoz.com).
RoadEyes : Created in 2011, RoadEyes positions itself as the leader in on-board camera solutions for vehicles. The brand develops a wide range of connected solutions designed to improve road safety. RoadEyes products are marketed through a solid network of distributors, e-commerce and mass distribution players and specialised retailers. RoadEyes was recently selected by the BPI, UbiMobility and Business France as one of the 8 most innovative French companies to meet American car manufacturers to present its technologies (www.road-eyes.com)
About NextStage AM :
NextStage AM, an independent asset management company approved by the AMF in 2002, is one of the pioneers and leaders in capital. NextStage AM invests in a limited number of innovative French and European SMEs and ETIs (60 in the portfolio at 30/06/2015), to which it brings entrepreneurial investor expertise and strong operational experience. NextStage AM provides long-term support to these medium-size companies (ETM), which are unlisted and listed on Alternext and Euronext B and C. It gives them the means to accelerate their development and their innovation capacity to become the “Champions” of their markets, both in France and internationally, through internal and/or external growth.
NextStage AM was co-founded by Grégoire Sentilhes, Chairman, and Jean David Haas, Managing Director, who hold 75% of the capital with their managing partners. The balance is equally owned by Artémis, the financial holding company of the Pinault group and Amundi, the leading asset manager in Europe with €960 billion. NextStage which manages 460M€, has concluded an all