CORE FOR TECH
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
CORE FOR TECH was a French deep-tech startup founded in 2015 with the mission 'Be alert. Drive safe. Get rewards.' It developed predictive fatigue and drowsiness intelligence for drivers: using native vehicle sensors or retrofit hardware to analyze heart rate variability and turn it into data about driver fatigue, enabling drivers to stay safe on the road. On October 12, 2021 it raised a EUR3.5 million seed round from investors including Bpifrance, Supernova Invest, Frederic Bruneteau, and Inovexus. PitchBook marks the company Out of Business, with a liquidation completed on April 2, 2024.
02 / CORE FOR TECH FAILURE REASONS
Failure factors supported by the current evidence
Journalauto (28 Mar 2024) reports Core for Tech halted because a fundraising failed: a planned ~€8M round with Nexyad and Acaly collapsed when the lead fund withdrew at the last minute, leaving a thin treasury. Co-founder Nicolas Vera said the Dacia commercial contract continuing was not enough to ensure survival.
Failed fundraising; the fund that was to be first shareholder withdrew at the last moment.
Vera: the startup had a very thin treasury after the round collapsed.
Ongoing Dacia equipment contract was not enough to ensure survival.
03 / EVENT HISTORY
Events in the structured record
- Operations ended
Journalauto: on 21 Mar 2024 management told partners activity would stop after the failed raise. The commercial court was to decide whether parent Fipsico could commercialize the technology via sister startup Jorni.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Raised approximately $6.39 million in total, including a €3.5 million (roughly $4 million) seed round in October 2021 with participation from Bpifrance and Supernova Invest.
- 02
The company was liquidated on April 2, 2024.
- 03
No audited loss figure was publicly disclosed.