EDF Pulse Ventures invested in frenchtech startup Ekoscan in 2022. Hugo Cence, CEO & co-founder of Ekoscan, explains the benefits of having EDF Pulse Ventures as a shareholder.
Could you describe your startup?
Ekoscan provides non-destructive ultrasonic testing solutions for industry. They are used to inspect welds, sheet metal, manufacturing of wind turbine blades, aircraft structures and railway rails. In 8 years, we have grown from €500K to €26M in sales (2023). Our aim is to become a key player in the sector and to achieve sales of €35m by the end of 2024, with 200 employees. We have a young management team, a long-term vision and a focus on innovation.
Why did you choose EDF Pulse Ventures as an investor at the time of your fundraising?
Ekoscan wants to become the French champion of non-destructive testing (NDT). The biggest user of our solutions is currently EDF with its nuclear power plants. It was obvious for us to choose the EDF Group as an investor and we are very pleased to count EDF Pulse Ventures among our partners. The Ekoscan group is also very proud to have a 100% French shareholder base, with nearly 60% held by management, thereby supporting the reindustrialization of France.
How would you define your relationship with EDF Pulse Ventures?
Ekoscan and EDF Pulse Ventures trust each other. We benefit from EDF operational teams’ strong support during our phases of organic and external growth. EDF's industrial management and its experts are very involved in our strategic choices and guide wisely with valuable feedback from the field.
What are the main concrete benefits that EDF Pulse Ventures has brought to your startup?
Working with EDF Pulse Ventures has given Ekoscan a long-term vision, especially with the new nuclear industry.
It has also had a positive impact on Ekoscan teams’ motivation. The recognition and support of a major player like EDF has strengthened the sense of achievement of the teams working on the development of cutting-edge technologies. This increased motivation has led to greater efficiency and productivity within the company, resulting in significant added value.
If you had to give one piece of advice to startups wishing to have EDF Pulse Ventures as an investor, what would it be?
Go for it! EDF Pulse Ventures will take you to a whole new level.
Could you pick 1 advantage having EDF Pulse Ventures as an investor?
I'd like to mention four that I think are essential:
- Growth support: EDF Pulse Ventures has a deep knowledge of the energy industry and solid experience in supporting innovative startups. Their dedicated team can provide valuable insights on how to evolve in a competitive and constantly changing market. Their resources can help identify growth opportunities, define solid development objectives and draw up execution plans to achieve them.
- Company structuring: as a startup, it is essential to have a solid structure to effectively manage operations and resources. EDF Pulse Ventures can advise on setting up efficient internal processes, creating high performing teams and defining clear roles within the company. Their experience can help avoid the common pitfalls that young companies face when looking to grow quickly.
- Strategic decisions: making the right strategic decisions is critical to the growth and sustainability of any business. With EDF Pulse Ventures as your partner, you can benefit from their strategic insights based on years of experience in the energy sector. They can help you evaluate options, identify the most promising target markets and develop a strategic roadmap to achieve your long-term goals.
- Positive company image: having EDF as an investor brings additional credibility and legitimacy to your business. EDF's reputation and standing as a leader in the energy sector can positively influence stakeholders, including customers, business partners and potential investors. This association can open doors and develop opportunities with other industry players.
In short, choosing EDF Pulse Ventures as an investor goes beyond the financial relationship. It also means receiving valuable strategic, operational and network support to strengthen your business, expand your market reach and accelerate your growth.