UAE- Dawex Raises 5 Million to Accelerate the Development of the Data Economy

(MENAFN- Dubai PR Network) Amadeus, Itochu Corporation, Bouygues construction and Caisse des Dpts invest to support innovation and data exchange technology.
Dubai, United Arab Emirates - May 23, 2019: Dawex, a leading data exchange technology company and the operator of the largest data marketplace, today announced a new round of funding of €5 million with Amadeus (AMS.MC), Itochu Corporation (ITOCY), Bouygues Construction (BOUY.PA) and a French web entrepreneur entering Dawex's capital, also joined by the historical investor Caisse des Dpts (via its Banque des Territoires).
Total funds raised from inception tops €12 million, including the recent €2.5M grant from Horizon 2020, the biggest European Union Research & Innovation program. Dawex co-founders Fabrice Tocco and Laurent Lafaye remain majority shareholders, retaining full control over the company's strategy and operations.
With the rise of Artificial Intelligence, Internet of Things, and the emergence of Smart Cities, among other disruptive trends like the autonomous cars, huge quantities of valuable data are being generated, analyzed and exchanged. New data-driven ecosystems are emerging that organizations can strategically leverage using secure data marketplaces and data exchange platforms.
Since 2015 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. This new round of funding 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.
'Data ecosystems are redefining competition, and the most data-driven companies will be the leaders of the new data economy, said Laurent Lafaye, Dawex co-founder and co-CEO. 'Becoming data-driven requires a shift in the enterprise's mindset and culture, but also the right technology to accelerate, streamline and secure data exchanges internally and externally, in compliance with new data regulations. This is exactly what Dawex provides.
'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.
Today 7,000 organizations from 20+ industries, such as agriculture, air & space, automobile, financial services & insurance, construction, energy, logistics & transportation, retail, telco, travel & hospitality, rely on Dawex Global Data Marketplace and Data Exchange Platform technology to source, commercialize, and share data directly between them, securely and efficiently. Dawex solutions are enterprise-grade and highly scalable also integrating new technologies such as the blockchain.
Dawex expertise on data economy is recognized by major analyst & 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.

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