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ForCity raises EUR8m in initial fundraising round

Urban simulation software developer ForCity has closed its first round of investment at EUR8 million, through a process led by CM-CIC Innovation and with the participation of the Caisse des Dépôts Group, Omnes Capital and Axeleo Capital.

This first round will allow ForCity to focus on scaling deployment and accelerating time to market for its solutions. These are currently geared towards public and private stakeholders in energy, environment, urban planning and real estate.
What will a city look like in five, 10 or even 20 years’ time? In the long term what is the most effective configuration for a heating network or the best route for a tram line extension? Which inhabitants in which neighbourhoods will be lacking essential services in five years’ time? ForCity provides public authorities and businesses with a simulation tool to help them anticipate such challenges and optimise planning. Their tools enable their users to simulate any and all the scenarios they may want to explore. ForCity is helping to transform the management of services and infrastructures in cities.
The global market for Smart Cities is constantly growing:
“Digital technology is continually transforming our behaviours and needs. This escalates the complexity of mid- and long-term issues for anyone who is developing services or infrastructures in local, regional and national areas. The need for decision-making support has never been so urgent,” says Thomas Lagier, CEO and Co-founder of ForCity.
“ForCity appealed to us because of its relevant positioning on Smart Cities, but also thanks to the team’s skills. Their clients highlighted the service ForCity provided, particularly in terms of their agile response and the reductions in the investments required for a given project,” says Karine Lignel, General Director of CM-CIC Innovation, who led the pool of investors throughout the process. As a key player for smart urban growth across France, the Caisse des Dépôts Group is also supporting this first round of investments.
The capital raised will enable ForCity to boost its international endeavours while maintaining and increasing its investment in technology.
“We have two main priorities: constantly improving our simulation platform and enhancing our product range,” explains Jean-Marc Kerisit, ForCity’s CTO. “Collectively, ForCity’s four investors have exceptional credibility in the fields our clients operate in and possess unrivalled experience in innovative digital companies,” says François Grosse, Co-founder and President of ForCity, who was supported by Cambon Partners throughout the process.

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