Hasselt, Belgium – October 23, 2023 – xyzt.ai, a pioneering leader in location intelligence technology, is proud to announce a major milestone in its journey to global expansion. The company, headquartered at Hasselt’s Corda Campus and with a facility in Leuven, raises €1 million in funding from three renowned investors: The Faktory Fund, LRM and Angelwise. These strategic partnerships strengthen xyzt.ai’s commitment to enable seamless, real-time and scalable analytics for extensive location and time series datasets.
xyzt.ai is not a typical start-up. Founded in 2019, by professionals with 15 years of industry experience, the company exudes both youthful enthusiasm and expertise. Their business intelligence platform helps customers visualize and analyze large amounts of location data. Our cars, planes, boats and other vehicles are equipped with numerous sensors and measurement devices that capture massive amounts of data. Location, speed, acceleration, tire pressure, … These are data that are sold to countries, cities and municipalities, among others, to analyze. Something that is complex because of the quantity and diversity of data.
“Our platform brings order to that chaos and facilitates analysis based on data. Cities can thus map where speeding occurs, in which corners or at which intersections cars most often brake and where road quality is poor. This allows them to take concrete and informed actions,” explain co-founders Lida Joly and Bart Adams. “Analyses to optimize traffic is just one of the possibilities. Another is fraud detection, for example by using the data from ships to find out where illegal fishing is taking place. Or two vessels passing each other off Columbia’s territorial waters, staying still alongside each other and then moving on? You may question that, too.”
Meanwhile, xyzt.ai is trusted worldwide by governments including the City of Hamburg, Autobahn GmbH and Texas A&M Transportation Institute, and works with industry leaders such as INRIX, Bridgestone Mobility Solutions and Spire. “That our product is a gamechanger according to our customers managed to convince investors The Faktory Fund, LRM and Angelwise for a €1 million capital injection,” said co-founder and CEO Lida Joly.
Processing over 1 billion data points
xyzt.ai is now poised to use this new injection of capital for accelerated growth in sales, marketing and customer success initiatives. Heidi Rakels, board member and early investor in xyzt.ai, expressed enthusiasm, “We are extremely pleased to welcome The Faktory Fund, LRM and Angelwise as investors. This enables us to push the success of xyzt.ai to new heights.”
Leading the way with its breakthrough technology, xyzt.ai offers a cloud-based SaaS solution designed for the visual analysis of comprehensive sets of location data. This comprehensive data analysis platform is distinguished by its advanced compression, storage and analysis techniques and can effortlessly handle more than 1 billion data points from scratch. The primary focus of xyzt.ai’s technology is on the connected vehicle market, the maritime sector and the broader IoT industry, where demand for such platforms is growing exponentially as governments and businesses seek to share insights and improve situational awareness.
Lida Joly of xyzt.ai, explains, “Processing datasets of billions of records used to present a complex challenge, one that our xyzt.ai platform expertly solves while saving our customers valuable time and money. I am very pleased with the confidence and support of this new investment team. It is also an additional incentive to achieve our goals and generate a lasting impact in the industry. In short: we are all set to take xyzt.ai to the next level, and we couldn’t be more excited about the opportunities ahead.”
Actionable business insights
The journey of xyzt.ai began when co-founders Lida Joly and Bart Adams observed the explosive growth of connected devices generating massive amounts of data in the IoT industry. The complexity of dealing with these huge data sets posed a major challenge for data analysts worldwide. xyzt.ai’s unique technology addresses this problem by delivering actionable business insights through a cloud-based SaaS platform, enabling the visualization and analysis of comprehensive motion data from mobile devices encompassing billions of location records.
“In a data-centric world that is continuously evolving, our robust platform is becoming indispensable. AI is taking on a progressively vital role in this context, identifying trends and anomalies in data, consolidating them, and automating the process of generating insights.” added Bart Adams, co-founder and CTO of xyzt.ai. “This new investment allows us to bring our solution to a much wider audience.”
“We are impressed by Bart and Lida’s robust and complementary expertise and their visionary technology. This combination helps private and public decision makers deal quickly and efficiently with increasingly important global mobility and environmental issues,” said Simon Alexandre, General Partner & Co-Founder The Faktory Fund.
Tom Aerts, Head of Investment at LRM, also sounds enthusiastic: “Behind xyzt.ai are two very experienced founders, Lida and Bart, who are not at their experimental stage. Moreover, they offer an innovative solution for processing large amounts of data. They are ready to conquer the world from our Hasselt Corda Campus. Their customer portfolio already proves that from all corners of the world there is a need for their technology in order to provide an answer to various mobility, environmental and fraud problems.”
“xyzt.ai’s product also impressed us with its user-friendly design and exceptional customer experience. The founders, Lida and Bart, have a wealth of relevant professional experiences that embody a perfect blend of vision and expertise, guiding the path of innovation and success for xyzt.ai,” concluded Marc Mommaerts, Managing Partner of Angelwise.
xyzt.ai is a leading high-tech location intelligence company that empowers users with actionable business insights through a no-code geospatial platform. Their platform facilitates the visualization and analysis of comprehensive motion data from various assets such as vehicles and ships, as well as time series data from non-moving sensors such as cameras, air quality and noise sensors. xyzt.ai is known for its effortless installation, interactive insights and has been recognized as an IDC Innovator, a member of the Open Geospatial Consortium and a Geoawesomeness Global Top 100 Geospatial Company. They were also awarded the Maritime Innovation Challenge by INEOS and the Port of Antwerp.
About The Faktory
The Faktory Fund is a private venture capital fund, based in Belgium and specializing in innovative early-stage B2B start-ups. The Faktory Fund actively supports a limited number of outstanding entrepreneurs, mainly based in Benelux and France, commercializing digital technology products (software, Internet of Things) with a view to global leadership. The investment portfolio includes e-Peas, Nestwave, Penbox, Dgenious and AiVidens, among others.
LRM is a return-driven investment company that develops and stimulates sustainable economic growth in and from Limburg. LRM is the driving force in a unique regional ecosystem and provides risk financing and expertise to companies and projects that ensure prosperity and well-being in Limburg.
Angelwise is an early-stage investment fund primarily focused on supporting startups and young companies in the next phase of their growth, preferably in partnership with business angels or other early-stage funds. The main shareholders of the fund are PMV, COI, BAN Flanders and more than ninety business angels. Founded in 2021, the fund has raised €20 million to build an ecosystem of companies that can help realize the digital transformation of society.
Press contact: Lida Joly (firstname.lastname@example.org)