Ponicode has raised a €3 million seed round led by Breega with participation from Kima Ventures, Plug & Play Ventures and business angels. This fundraising comes in addition to Ponicode’s €1 million loan from Bpifrance.
Using AI to Improve Code Quality
Ponicode has developed a platform based on AI and machine learning that tests the various functions of computer programs, thus relieving developers of tedious and time-consuming tasks. The platform has learned from millions of lines of code, allowing it to generate unit tests and suggest improvements so that developers can deliver error-free code. Ponicode, therefore, improves product quality, speeds up time-to-market, and helps drive company innovation.
Founded in June 2019, Ponicode has already achieved several milestones starting with its integration into the Microsoft AI Factory program at STATION F that has for mission to train the next European AI champions. Ponicode has launched a public beta version of its solution this past June as well.
Their team consists of 11 highly-qualified and multicultural members, who are passionate about paving the way for a new era in coding. The team has received positive feedback for their private beta version from their community of early adopters.
Ponicode is the third company set up by AI expert Patrick Joubert. In 2011, he founded the consulting company Beamap, which specialised in Cloud technology and was subsequently acquired by Sopra Steria in 2014. He went on to build Recast.AI in 2015, a collaborative conversational AI platform open for developers creating chatbots, which got acquired by SAP in 2018.
Limitless Market Opportunities
This seed funding will enable the start-up to reinforce its R&D team and to further develop its product. The company aims to double its team size in the space of a year; to begin marketing the solution to companies; and to launch an international roll-out, notably targeting the US.
“Code quality has become a key issue for companies in a world where digital has transformed every aspect of society. At the heart of the digital universe stands software developed from millions of lines of code. For instance, smartphones contain just as many software programs as a car, i.e. around 100 million lines of code. And yet, far too often, such programs still contain bugs, sometimes with disastrous consequences. This is unacceptable and code needs to make the transition to impeccable quality. We want to raise standards and play a major role in changing development practices.” explains Ponicode’s co-founder and CEO, Patrick Joubert