Stories: Dawex is paving the path toward success in data economy
The French start-up is a leading data exchange technology company and the operator of the largest data marketplace. After having won a call for tender organised by the Ile-de-France Region and raised €5 million through a funding round announced in May, the company is aiming to establish its presence in the Middle East in 2020.
Dawex mission is to create the conditions for the smooth development of the data economy by facilitating the exchange of data between companies and organizations. Founded in 2015, Dawex today has 7,000 organizations from more than 20 industries relying on its proprietary Global Data Marketplace and Data Exchange Platform technology.
This round of funding of €5 million with Amadeus, Itochu Corporation, Bouygues Construction and Caisse des Dépôts group will support the company’s ambition to make Dawex the data exchange platform reference, by accelerating its development in Europe and the United States, by establishing itself in Asia and the Middle East, and by pursuing its investment in technology and innovation.
“Dawex is excited to bring together such high-profile corporations and leaders in their respective markets to invest in our data exchange technology,” said Fabrice Tocco, Dawex co-founder and co-CEO. “Their engagement as corporations in supporting our innovation reflects the strategic role that data exchange platforms play in today’s organizations and how they could impact the future of our economy.”
Dawex co-founders Fabrice Tocco and Laurent Lafaye remain majority shareholders, retaining full control over the company’s strategy and operations.
The Smart Platform 2030
The business consortium to which Dawex belongs won a call-for-tender launched by the Ile-de-France (Paris) regional authorities to develop the Smart Platform 2030: a platform that encompasses open data, private data exchange, and the creation of digital twins. Engie and its partners won the bid for a preliminary €6 million contract intended to cover the first years of development on a project that is expected to reach into 2030. Dawex will provide the technology component for exchanging private data.
“Data exchange and data monetization are making an impact on the future of the economy, and many organizations already understood they have a role to play. Because we have the cutting-edge technology for data exchange, because we know how to address data challenges and how to build powerful data exchange strategy, enterprises and organizations are engaging with us to help them support their growth”, added Dawex co-founders and co-CEOs Laurent Lafaye and Fabrice Tocco, during an interview to the journal Entrepreneur Middle-East.
Dawex expertise on data economy is recognized by major analysts & research firms and institutions. Dawex is a consortium member of European projects like CyberSec4Europe and Data Pitch, and gold award winner at the French American Business Awards 2018, San Francisco. The project has received a Phase 2 grant from the EIC SME Instrument program. The total Phase 2 grant amount is 2.4M€.