Paris, May 6, 2021 – Deepomatic announced an investment from two new strategic partners: Swisscom Ventures, the investment arm of the Swiss national operator, and Octave Klaba, CEO of OVH. This new partnership comes with an increase in capital of 2.3 million euros, aimed at accelerating Deepomatic’s European development in the telecom sector.
According to the European Commission’s objectives, every European household should have access to an internet connection of at least 100 Mbps by 2025. To reach this goal, Deepomatic uses industry-leading image recognition and AI to instantly assess the state of fiber installations and guide technicians to successful task completion.
Deepomatic’s AI has already assisted over 1 million operations in 2020 and is planning for more than 2 million operations in 2021. Major European network operators, including Bouygues Telecom and Swisscom, are using Deepomatic to connect subscribers more reliably to improve network quality and their customer’s experience.
Confirmed in their strategic choice to focus on addressing the telecom industry, Deepomatic has tripled its recurring revenue in 2020 alone and is well on track to continue this trend in 2021.
“We estimate that over the next 10 years, all companies with significant field operations (telecom, construction, infrastructure, and energy) will use image recognition to optimize field processes, just as other industries (financial services, insurance, etc.) have been able to do with CRM and back-office process automation,” comments Augustin Marty, CEO of Deepomatic. “Our strategy and all our investments are going in this direction. We are developing, in collaboration with our customers, a disruptive solution. Swisscom Ventures' entry is extremely significant in this respect: they have upgraded from being a customer to a partner. Octave Klaba’s involvement is just as significant as it will help us reach our goal to take part in the creation of a strong European ecosystem in artificial intelligence.”
Deepomatic will use the additional capital to further the development of its platform in Europe in order to address all field services management issues (process optimization to support technicians in the field, operations traceability, and quality management), particularly in the telecom sector.
Convinced by Deepomatic’s technology and the relevance of its strategy, Swisscom has decided to support the French company’s business project by investing through its investment fund, Swisscom Ventures. As a true trailblazer, Swisscom also intends to introduce Deepomatic to its partners and work alongside the company to build the future of field operations management.
Dominique Mégret, Head of Swisscom Ventures, says: “The teams at Swisscom selected Deepomatic’s computer vision solution to equip all our technicians because it would help us keep delivering a reliable quality service to our customers while remaining at the forefront of technological innovation. Beyond the quality of their technology stack, Deepomatic’s team has developed genuine expertise in our industry, and we are looking forward to this new partnership, through our investment in Swisscom Ventures, to anticipate the future needs of telecom leaders better”
Octave Klaba, for his part, has made a personal investment in this fundraising. Committed to the development of a strong ecosystem and European digital sovereignty, the founder of OVH reached out to Deepomatic in 2017, convinced by the relevance of its computer vision platform.
“I find it critical to support the growth of French companies whose disruptive innovations have been able to introduce artificial intelligence into the daily operations of many players in Europe. Deepomatic has made the use of AI practical and accessible to businesses. I can only support them in this new phase of their development,” concludes Octave Klaba.