RENFE’s Board of Directors has approved the agreement to invest in the startup Imotion Analytics, whose technological base is Artificial Intelligence, to expand its commitment to open innovation.
RENFE has selected Imotion Analytics after an intense evaluation process, carried out in the first half of 2022, of the startups participating in all the calls for TrenLab, Renfe’s global startup acceleration programme.
This investment goes beyond mere financing, as it represents a first step for the railway company towards what is known as the “Corporate Venture Capital” world, a hybrid model of innovation in which the advantages of a large company are combined with the innovation and motivation of a start-up. The aim of this relationship between the two companies is to establish synergies in a context of exploring new technologies and business models, attracting talent and innovation.
The operation involves Renfe acquiring 10% of the capital of Imotion Analytics, with the possibility of investing up to an additional 10%, in which case Renfe will have a final stake of 20% in Imotion Analytics. In this way, Renfe will form part of the Administrative Body.
Trenlab is RENFE’s global startup acceleration programme. It is the hub for open innovation in the mobility, transport and logistics sector. It works side by side with startups and Renfe subsidiaries to accelerate the best projects and generate business opportunities together.
Imotion Analytics was one of the startups participating in the second first call of TrenLab. It was created with the aim of becoming a benchmark in solutions based on multi-sector artificial vision, using this technology and its own algorithms to let customers know what is happening in their business. In this sense, Imotion’s technology can detect human bodies and all kinds of objects, extracting information ranging from the recognition of gender and age of people.
BDO Abogados advised imotion Analytics with a team made up of Corporate manager Javier de Claudio López and Corporate senior lawyer Victor Camps Carvalho, together with Víctor Soriano García, head of the startups and innovation area of BDO Outsourcing.