Investor Newsletter H2 2023
February 29, 2024
Technology and Fund Updates
Welcome to our Investor Newsletter edition for the second half of 2023. This Newsletter will present an update on the investment activity of the Wesley Clover Global Ecosystem of Technology companies as well as updates on the expansion of New Funds, LP participation opportunities of the Alacrity Global program and what trends we are watching in technology, investment, and policy.
In this Edition:
- Our Latest Watch List
- Portfolio Investment Highlights
- New Initiatives
- Investment Spotlight
- Alacrity Entrepreneurship News
- Upcoming Events
Our Watch List
Edge Computing
EDGE SIGNAL
Artificial Intelligence Enables Enhanced Data Processing at the Edge
Cybersecurity
OVERSOC
Surface d’attaque externe : les 10 vulnérabilités les plus courantes
Cleantech
EMENDFUND
How One Visionary is Using AI to Safeguard Water in a Thirsty World
Portfolio Investment Highlights
The Alacrity Global Ecosystem has raised over $95M USD in 2023. The tech verticals of note were Ai enhanced RegTech, MarTech, and CX. You can follow the links below for details:
- L-Spark Portfolio Exits: Hangry undisclosed
- Alacrity Canada Porfolio Exit: Saasquatch
- Alacrite France Portfolio Exit: Phedone
- Alacrite France Portfolio Raises: Matami and Customsbridge raise undisclosed
- Alacrity UK Portfolio Raises: Validient £300,000
Wesley Clover & Alacrity Content
Content for global investor, entrepreneur, and partner audiences.
Wesley Clover issues updates on the portfolio each Quarter on Technology,
Hospitality and Real Estate business.
Find information related to Alacrity Funds, Hubs, and Companies.
5 initiatives we are working on this year are:
- New Alacrity Funds & Accelerators under development: UAE, ASEAN, India, and South America.
- Attract LPS for Alacrity Funds (France, Canada and Turkey)
- Support the acceleration of Pre-seed companies to investible revenue levels.
- Enhance engagement with Global Investor and Industry Analyst community via briefings and informative content.
- Expand the WCS Global systems integrators offering in Europe, MEA, LATAM and APAC.
Deal Book: Investment Spotlight
Over the next 12 months we are anticipating further Early-Stage Investment attraction specifically in IoT, HealthCare IT, Productivity/Management Software, HRTech, and Security & Monitoring. Companies grew in 2023 and are looking to accelerate further global growth in 2024. We have 14 companies looking to raise funds over the next 6-8 months. Find the investment profile details below:
Website: celestrahealth.com
Industry/Vertical: Healthcare / Digital Health
Location: Ottawa, Canada
Investment Timeline: 2024-2025
Active Users: 90+ (Phase II clinical trial in US, UK and Canada)
Funding Target: Seed, $3 Million
Targets: Angels, VCs
Celestra Health Systems is a health tech company revolutionizing MS treatment using cutting-edge wearable tech, AI, and smartphone apps. Selected for the prestigious UK NHS Digital Health Partnership Award, their solution discreetly monitors key disease indicators, allowing for informed treatment decisions and rapid therapy assessment. With renowned neurologists on their team and Phase II trials underway, Celestra Health has pending patent applications and is engaged with the US FDA for Class II Software as a Medical Device certification.
Current Investors: Wesley Clover International, Debt
Strategic Customers: Global pharmaceutical firms, UK National Health Service (NHS), US Neurology and Rehabilitation clinics specializing in MS.
Website: https://cliniconex.com/
Industry/Vertical: Healthcare Technology, Ambulatory & Long-Term Care.
Location: North America
Investment Timeline: 2024-2026
Estimated ARR CAD: $6.5 Million
Funding Target: Series A, $10 Million
Targets: VC and Corporate Venture
Cliniconex automates patient engagement as the leading communication and collaboration solution for more than 3,000 senior care facilities and 5,000 medical providers, returning 1 million hours to direct care every year. Our solutions reach audiences via voice, text or email, strengthening teams with a record of all conversations, and uniting family-centered communities through timely, transparent outreach. The result? More time to care.
Digital transformation in health care is growing rapidly with national health spending projected to reach $6.2 trillion by 2028 in the U.S alone. Cliniconex seeks capital to accelerate expansion within existing strategic partnerships and into adjacent senior care segments in new markets through product extension.
Current Investors: Angels and Strategic Investors.
Strategic Partners/Customers: PointClickCare, Loblaws, Telus Health
Website: https://teldio.com/
Industry/Vertical: B2B SaaS, Enterprise Workflow Automation and Communication
Location: North America
Investment Timeline: Q4 2024
Estimated ARR CAD: $4 Million+
Funding Target: Series A, $3 Million+
Investor Targets: VC and Corporate Venture
Teldio is a leading provider of advanced communication and fleet tracking solutions designed to enhance safety, communication, and operational efficiency. Teldio offers solutions which extend the value of private two-way radio and video networks and integrate and automate use cases with two-way radios, video management systems and access control systems. Teldio’s mission is to enable safer people, places and things.
With over 1,000+ deployments, Teldio delivers solutions to some of the largest customers across many verticals, with a main focus in manufacturing, utilities, healthcare, transportation and education.
Teldio has grown steadily from 2021 to 2023 and is accelerating in 2024 based on a distribution agreement with Motorola Solutions. The plan is to utilize funding to accelerate organic growthand enable expansion outside of North and South America
Current Investors: VC, Corporate, Angel
Strategic Customers: Amazon, Tesla, SpaceX, Pfizer, Marriott, P&G, 3M, GE, Nissan, Cargill, Tyson Foods, NYSE, Honda
Website: https://matami.fr/
Industry/Vertical: Customer Success, customer winback, customer data enhancement
Location: Lille, France
Investment Timeline: Q2/Q3 2024
Funding Target: €500k
Investor Targets: VC, BA
Matami helps small and medium-sized companies to improve their customer experience from cancellation to return. Matami facilitates the management of contract cancellations, saving you precious time so you can concentrate on your core business, and at the same time gathers useful data to better understand your customers. This not only helps you improve your reputation and brand image, but also enables you to launch automated customer win-back actions: better understand the reasons for their departure to increase your chances of getting them to come back!
Current Investors: Founders, Alacrité France.
Strategic Partners/Customers: L’orange bleue, Gigafit, Citron Vert
Current Investors: Angels, Institutional Angels, VC
Website: https://whispeak.io/
Industry/Vertical: Voice biometrics, Cybersecurity, speaker authentication
Location: Lille, France
Investment Timeline: Q2/Q3 2024
Estimated ARR USD: $2.4 Million+
Funding Target: Series A, €4 Million
Investor Targets: VC, BA
Whispeak provides a solution to simplify authentication processes by using voice as a biometric factor. This allows users to access their accounts, give sensitive commands, or be recognized at call centers, making their digital journeys secure and easy. The solution is easily deployable through SaaS, on premise or embedded versions, and can be used on all points of contact where microphones are present. Additionally, it is natively compatible with RGPD for user privacy protection.
Current Investors: Founders, Alacrité France, Finovam Gestion, Debt
Strategic Partners/Customers: Thalès, Continental, Airbus, Safran
Website: https://trust-eat.com/
Industry/Vertical: Cold Chain monitoring, food industry, IoT
Location: Lille, France
Investment Timeline: Q2/Q3 2024
Active Users: 350+
Funding Target: Series A, €3M
Investor Targets: VC, BA
TrustEat provides a solution to protect against health risks caused by cold chain breaks in the food industry. It helps professionals improve the quality of their products by ensuring sanitary control and reassuring consumers. TrustEat’s application integrates refrigeration sensor data for end-to-end supervision of the cold chain, targeting risk areas and alerting before problems occur. With over 250 customers, TrustEat supports all actors in the food industry, including restaurants, caterers, bakeries, large-scale distribution, and the food industry.
Current Investors: Founders, Alacrité France, Wesley Clover, Finovam Gestion, debt
Strategic Partners/Customers: Chronodrive, Intermarché, Biocoop, Kimoco, Super U, Hôtel Mercure
Website: https://rfence.fr
Industry/Vertical: Security, Cybersecurity, Radiofrequencies
Location: Lille, France
Investment Timeline: Q2/Q3 2024
Funding Target: Series A, €4 Million
Investor Targets: VC, BA
RFence provides a solution to detect, locate, and analyze every radio wave emitting device, in order to enhance the physical security of industrial facilities. The product is based on a spectrum analyser network and alerts you wisely in case on unusual movement on your site giving you access to a monitoring panel connected to the site’s CCTV system.
Current Investors: Founders, Alacrité France, Finovam Gestion, Wesley Clover International, Debt.
Strategic Partners/Customers: Port of Calais, MBDA, Ensio, Dior
Website: customsbridge.fr
Industry/Vertical: Security, Cybersecurity, Radiofrequencies
Location: Lille, France
Investment Timeline: Q2/Q3 2024
Funding Target: Series A, €4 Million
Investor Targets: VC, BA
RFence provides a solution to detect, locate, and analyze every radio wave emitting device, in order to enhance the physical security of industrial facilities. The product is based on a spectrum analyser network and alerts you wisely in case on unusual movement on your site giving you access to a monitoring panel connected to the site’s CCTV system.
Current Investors: Founders, Alacrité France, Finovam Gestion, Wesley Clover International, Debt.
Strategic Partners/Customers: Port of Calais, MBDA, Ensio, Dior
Website: viziosense.com
Industry/Vertical: Smart parking, smart city
Location: Lille & Paris, France
Investment Timeline: Q4 2024
Funding Target: Series A, €5 Million
Investor Targets: VC, BA
VizioSense is developing an AI sensor providing counting data for business optimization & automation. We use embedded computer vision to provide the best mix of price, accuracy, and power consumption. The main product are :
- VizioPark : smart parking space monitoring utilizing AI-powered sensors to detect availability without requiring individual sensors for each spot.
- VizioCount : smart people or objects counting, ideal for density management, inventory control, security, or insightful analytics.
- VizioCrowd : smart people counting, useful in very dense environments to monitor the occupancy level and take actions to avoid crowd movement.
Current Investors: Founders, Alacrité France, Finovam Gestion, Wesley Clover International, Business Angels, Friends&Family, Debt.
Strategic Partners: RMS, Xperanti, CityMesh, Groupe Assman, NomoSense, Unabiz, Citeos, Park Support, Post Luxembourg, Bouygues Energies & Services, Parkki, Eiffage France, Ineos, MWT, Snef, AkenSys, Axione, Ubicité, Macaron, Smart City System, Hubit
Website: lota.cloud
Industry/Vertical: FinOps, Cloud optimization
Location: Lille, France
Investment Timeline: Q2 2024
Funding Target: Series A, €2 Million
Investor Targets: VC, BA
Lota.cloud is a BtoB cost management platform for Cloud services users. With an ergonomic platform, companies are able to centralize and monitor billing and usage data from different Cloud providers. Though its platform, Lota.cloud helps businesses to analyse their data, identify the way to optimize their Cloud services, and monitor their Cloud strategy.
Current Investors: Founders, Alacrité France, Finovam Gestion, Wesley Clover International, Debt.
Strategic Partners: Fnac Darty, Damart Tex, Inter Mutuelle Assistance
Website: privamap.com
Industry/Vertical: Security and safety on critical sites
Location: Lille, France
Investment Timeline: Q2 2024
Funding Target: Series A, €1 Million
Investor Targets: VC, BA
PrivaMap is a security solution for critical sites designed to monitor and secure on-site movements. Users of your site are guided to their destination in real time, and you are alerted in case of incident: accident, unusual behavior, etc. The solution enables you to control security on your critical site from end to end, thanks to the security protocol module, for example.
Current Investors: Founders, Alacrité France, Finovam Gestion, Nord France Amorçage, Wesley Clover International, Debt.
Strategic Partners: Euralogistic, Roquette, HubOne, SNF SA
Website: surple.co.uk
Industry/Vertical: Cleantech/Fintech
Location: UK
Investment Timeline: Q3-Q4 2024
Active Users: 1300+ Business Subscribers, 2 white-label partners
Funding Target: £1.2M
Investor Targets: Seed-stage VC’s and Angels
Surple build software that helps organisations to optimise their energy use. Through their platform, they are enabling businesses to change the way people view energy. Surple visualises and maps energy usage against trends to identify and reduce the amount of energy that organisations consume.
Current Investors: Wesley Clover, Welsh Government, Waterloo Foundation
Strategic Customers: Yü Energy (UK utility with 25,000+ SME customers), Newport City Council (large municipality)
Alacrity News
Alacrity Canada
Alacrity Canada runs programs in support of early-stage technology companies. To-date these programs have supported the development of companies with value greater than $700M. Given the success of the Alacrity program the Emend Vision Fund is being developed with the intent to invest in high potential early-stage companies with strong environmental and sustainability impacts. The fund will focus on emerging opportunities through Industrial Transformation, Big Data and Critical Infrastructure, Clean Water and Food Security. For more information contact the Emend Fund on how you can support.
Alacrity France
Alacrité France is supporting the development of 10 active NewCos to-date, each received startup funding of €250K+. Alacrité has now reached a first level of maturity: there are no short-term plans to incorporate new companies, but to focus on the growth of these 10 startups. Several of these newco’s are preparing fundraisings for 2024 and early 2025
Alacrity Affiliate: L-SPARK
The L-Spark portfolio to-date has had 8 companies exit with a cumulative exit value over $200 Million USD
Alacrity Mexico
Alacrity Mexico continues to support the development of 3 portfolio companies in the Enterprise Contract Lifecycle Management Software (CLMS), Fintech, and Cybersecurity sectors. The first private outside funding round was executed during 2H-2023 in portfolio company Webdox which achieved a milestone of US$6.7 million in ARR in 2023 with 60%+ YoY growth and improved unit economics.
Alacrity Turkey: Fund II Under Development
Alacrity Turkey is launching its second fund, a $30M USD seed-stage “SaaS Globalization” Venture Fund II to invest in Turkish B2B SaaS start-ups.
Alacrity UK
Alacrity UK continues to support startup ecosystem through programmes to include:
- Digital Customer Acquisition course
- Wales Cyber Hub
- Community Renewal Fund
- Media Hub commercialisation programme
The current Alacrity portfolio has grown to 17 active NewCos, each NewCo receiving seed funding of £250K+.
The Cyber Security Program launched in 2020 has now graduated 4 NewCos.
Alacrity ASEAN New Fund Under Exploration
Wesley Clover undertaking exploration of a new fund in the ASEAN region. Early-Stage Venture Builder model for SAAS technology 5 ++2 years, targeted fund size of $10 Million USD.
Alacrity India, New Delhi New Fund Under Exploration
Wesley Clover undertaking exploration of new fund in the New Delhi. Early-Stage Venture builder in Alacrity India model for SAAS technology 5 ++2 years, targeted fund size of $10 Million USD.
Alacrity South America New Fund Under Exploration
Wesley Clover undertaking exploration of a new fund in South America. Early-Stage Venture Builder model for SAAS technology 5 ++2 years, targeted fund size of $10 Million USD.
Alacrity UAE New Fund Under Development
Wesley Clover undertaking exploration of a new fund in the UAE. Early-Stage Venture Builder model for SAAS technology 5 ++2 years, targeted fund size of $10 Million USD.
2024 Ecosystem Events
- L-Spark SaaS Showcase – Ottawa, April 11, 2024
- L-Spark SaaSNorth Event – Ottawa, November 13-14, 2024
For more information contact Joshua Seerattan via email.
Thank You
For any Investment related enquiries on portfolio companies, Alacrity Funds or for a Wesley Clover Briefing please contact Joshua Seerattan.
About Wesley Clover International
Wesley Clover International is a private, global investment management firm and holding company with over a Billion Dollars of Assets Under Management in Real-Estate & Technology. The focus is to fund and grow successful technology companies. More than 100 firms have been created to-date by Wesley Clover with more than $1.0B in direct investment. The portfolio regularly has more than 40 investments under active management around the globe. All are committed to next-generation Cloud and SaaS applications for fixed and mobile communications, video analytics, security, customer engagement, business enablement and more. Deal flow includes companies within the Enterprise Accelerator, L-SPARK, as well as the Alacrity Global Ecosystem of technology partnership funds which have been deployed in 6 international regions.