Hexa, the startup studio based in Paris, which initially emerged as eFounders, has unveiled a roster of six upcoming companies set to emerge from their incubation. This lineup is a compelling blend of enterprise SaaS startups, with the intriguing addition of a blockchain data startup.
Given eFounders’ storied history, it is always fascinating to witness the innovative ideas and trends that surface from these new cohorts. As a quick refresher, eFounders, established in 2011, primarily concentrated on SaaS startups specializing in tools and services shaping the future of work. Some of the notable companies in eFounders’ portfolio include Front, Spendesk, and Aircall. More recently, eFounders underwent a rebranding and expanded its focus, transforming into Hexa. Hexa now functions as an umbrella organization encompassing various startup studios, including eFounders (centered on the future of work), 3founders (dedicated to web3 startups), and Logic Founders (focused on fintech).
Over the past decade, Hexa has launched over 40 startups. While some have thrived, others struggled to gain traction. In the previous year, Hexa’s portfolio companies collectively achieved a valuation of $5 billion.
Hexa and its startup studios conceive the concepts behind these startups, subsequently collaborating to identify the ideal founding teams. During the initial year, the startup studio provides invaluable expertise in areas such as product design, go-to-market strategies, recruitment, and fundraising. When a startup successfully secures its seed funding, it gains full independence, allowing the startup studio team to redirect its attention towards new projects. When questioned about Hexa’s stake in these startups, Hexa’s co-founder and CEO, Thibaud Elziere, clarified that “nothing has changed with Hexa; we still retain 30% equity post-seed, except that now 7.5% of this 30% is allocated to the studio founder.”
Now, let’s take a closer look at the upcoming Hexa startups:
1. Riverflow: Riverflow, developed by Hexa’s web3 startup studio, 3founders, is a data orchestration startup with a focus on blockchain data. Riverflow facilitates the extraction of data from smart contracts, blockchain transactions, wallet addresses, and more, enabling manipulation and transfer to data warehouses, analytics tools, or BI systems. In essence, it serves as a bridge for data analysts to incorporate blockchain data into their workflow.
2. Okko: Okko specializes in streamlining procurement processes. In an unexpected twist, procurement has become a significant vertical for tech startups in 2023. Okko distinguishes itself by seeking to modernize existing procurement systems rather than building them from scratch. It integrates with established systems like Oracle NetSuite, revamping vendor portals and interfaces for more efficient purchase order creation.
3. Catalog: Catalog is a new SaaS solution tailored for B2B wholesale orders, designed to streamline the process of companies selling products to independent retailers. It centralizes product information on a user-friendly website, replacing the conventional method of sharing complex Excel files. This innovation enables seamless online orders that integrate directly with a company’s ERP system, offering new avenues for recurring orders, promotions, and product launches.
4. RingX: RingX is a startup with a current codename, focusing on corporate knowledge. In a world where jobs are becoming increasingly technical, RingX aims to connect individuals with professionals from other companies who have encountered similar challenges. It establishes a peer-to-peer platform for professionals to exchange knowledge and insights.
5. Kiosk: Kiosk is a SaaS startup that extends the functionality of WhatsApp Business, empowering companies to communicate more effectively with their customers via the popular messaging platform. It can be used for customer acquisition through chatbot-like funnels, as well as for managing support requests by integrating with other SaaS tools like help desks, CRMs, and e-commerce platforms.
6. Tengo: Tengo offers a centralized platform for tracking all public tenders in France, ensuring that companies do not miss potential bids. This tool is particularly valuable for businesses heavily reliant on public tenders for revenue generation. Tengo not only detects public tenders but also leverages AI and LLM technology to assist in responding to private tenders, making it akin to a “Govly” for the French market.
Hexa also has two additional projects in the pipeline, albeit under codenames: TopiX – a mobile-first communication tool with AI features, and GPTX – a generative AI tool for internal corporate applications that prioritize privacy and security.
