Parisian start-up Mytraffic has raised €10m in a series A funding round led by Alven and Kernel, bringing its total funding to €13m. The company, founded in 2016 by Hakim Saadaoui and Gautier Machelon, analyses geolocation data and measures traffic in streets, neighbourhoods and stores. Mytraffic then helps clients to optimise their investments and impacts over time. This includes network optimisation, commercial attractiveness diagnostics for streets, neighbourhoods and cities, and support for setting up new businesses.
The start-up already has 300 clients in seven countries, including retailers such as BNP Paribas, H&M and The Body Shop, as well as cities such as Strasbourg, Dunkirk, Brussels and Karlsruhe.
With the latest funding round, Mytraffic plans to accelerate its growth in France and Europe, strengthen its sales and marketing teams, and increase its R&D budgets to develop new use cases, such as analysing automobile traffic.
2CFinance conducted the financial due diligence for the funding round. The company provides transaction services to help start-ups and investors with fundraising, M&A and strategy.
Alven is a venture capital firm based in Paris and London. The company has previously invested in other innovative start-ups such as Algolia, Frichti and Dataiku.
Kernel is a French venture capital firm that invests in technology companies in France and Europe. The firm targets the seed and early-stage segment and has invested in companies such as Station F and Otium Venture.
The funding round is expected to help Mytraffic solidify its position as a leading player in the physical traffic analysis industry and expand its service offering across Europe.
