- Results for the first trimester of 2020
- Investment prospects for the year
Rennes, 7 may 2020 – GO CAPITAL, investor in innovation capital, presents a very dynamic first trimester 2020, considering the number of investment operations and reinvestments realized. Go CAPITAL’s team is mobilized to support its participations and assist the most promising local deep tech companies during the crisis.
A first semester 2020 characterized by seven financing transactions
In the first trimester of 2020, GO CAPITAL realized 3 new investments amounting to 1.9 M€.
AKRYVIA, a start-up developing an innovative technology for metal cutting, joined GO CAPITAL’s portfolio in January. The investment files for ABC Transfer (development of a line of products used in the transfer chains of pharmaceutical industries) and ECOVELO (design and sales of technological solutions for light vehicles, electrical hybrids, and self-service) were finalized as well during the health crisis.
Furthermore, an amount of 0.42M€ was reinvested in four companies.
With these reinvestments, GO CAPITAL renewed its support to two innovative companies working in the field of medical and analytics technologies (TRICARES and DIAFIR), as well as two start-ups in the digital field (ANTIOTE and ALCUIN). Some of our refinancing operations will aim to support these companies during the COVID-19 health crisis.
Health crisis and investment prospects for the next trimester
“We consulted with the companies of our portfolio, in order to assess the consequences of the health crisis on their growth potential and their financial health during the next trimesters. Their treasury is obviously impacted by the situation, and we are planning to intensify our reinvestment policy to support the most promising start-ups. In the last couple of weeks, we have been monitoring the evolution of the regulatory measures affecting the profile of our participations on a case-by-case basis. Our action, now more than ever, seeks to inform, guide and support them in their decision-making and undertakings, in order to sustain their activity and to protect their treasury and the jobs that depend on it,” state Bertrand Distinguin and Jérôme Guéret, associate investment directors at GO CAPITAL.
As a responsible investor, GO CAPITAL also intends to sustain its investment policy towards the deep tech companies of the Grand Ouest region. In the coming months, the management company should be involved in four or five financing operations in the Grand Ouest region. We also anticipate reinvestments in companies already included in the current portfolio of the management company of an estimated amount of 2 to 3M€.
A closer look at some actors of the portfolio who managed to quickly reinvent themselves
Several star-ups supported by GO CAPITAL mobilize their skills and their energy to participate to the fight against the COVID-19 pandemic. Their activity quickly readjusted in order to respond to the growing demands of the general public and socio-economic actors.
BIOSENCY – The Rennes-based company is developing the first medical device of telemonitoring and prevention dedicated to patients suffering from chronic pulmonary insufficiency, and especially patients suffering from Chronic Obstructive Pulmonary Disease (COPD). The start-up will deliver 600 monitoring bracelets, thanks to the support of ASICA and Actuaplast. These connected bracelets were designed for the remote treatment of patients in respiratory distress and to facilitate their returning home. This medical device is especially useful to allow hospitals to free resuscitation beds and for the monitoring of inpatients as well as outpatients.
BIOSENCY is a participation of the GO CAPITAL Amorçage II fund.
SHOPOPOP – Based in Nantes, this start-up assists more than 800 stores in France (Leclerc, Système U, Intermarché, and more recently Auchan and Carrefour…). Their platform connects users who wish to share their shopping trips with others in order to buy groceries through drive-in services or in store. Since the beginning of the quarantine, we have witnessed a strong increase in the number of orders that were placed through Shopopop’s community of private individuals turned delivery drivers. As a safety measure, the platform does not allow deliveries with a direct contact between the delivery driver and the recipient. Stores are also encouraged to provide masks and gloves to delivery drivers. It is noteworthy that the star-up was recognized as a public utility service by the French government in March 2020.
SHOPOPOP is a participation of the GO CAPITAL Amorçage II fund.
VITEMONMARCHÉ – Also based in Nantes, this food distribution start-up proposes an innovative model to deliver fresh and local products directly from the producers and within the hour, thanks to mobile trucks. Only a few days after the beginning of the quarantine, Vitemonmarché had to reorganize in order to prepare 500 orders per day. They managed to set up a new tool to optimize delivery routes, to triple the surface of their cold storage, and to double their fleet of trucks in record time. The start-up currently employs 70 people (compared to 30 before the health crisis), and is expected to extend its services to other French cities in 2020. It should offer its services in Rennes as soon as May.
VITEMONMARCHÉ is a participation of the GO CAPITAL Amorçage II fund.