French Tech Espresso - #18
Key headlines this week include rising corporate generative AI adoption, Alter Equity's new fund, and a few M&A deals. On the funding side, 8 rounds were announced, for a total of ~€47m
Welcome to French Tech Espresso, your weekly dose of startup and funding activity in the French technology ecosystem.
I’m Greg - Originally from France, I currently work as a strategy consultant in London. You can reach me on LinkedIn or at gregory.paterson@outlook.com
Key Headlines 🗞️
Corporate generative AI adoption is accelerating, with AXA, BNP Paribas, and Dassault Systèmes each announcing a partnership with Mistral AI to roll out AI within their organisation
Agorastore, a B2B auction platform, has acquired Clicpublic, a Belgian competitor; terms of the deal were not disclosed
Ospi, a data services and automation platform for the healthcare sector, has acquired Alicante, a solution specialising in the valuation of healthcare data; deal terms were not disclosed
On the investor front, Alter Equity announced its new €85m impact fund, “Alter Equity 3P III”; the fund will invest in a range of sectors including energy efficiency, circular economy, and biodiversity, with tickets up to €20m
Funding activity 💸
French tech companies raised ~€47m last week across 8 rounds
Enerdigit, an electrical flexibility startup, raised a €20m round from Ring Capital, France Investissement Energie Environnement, and Océan Participations
Nutriearth, a food-focused biotech, raised an €8m round from a range of investors including Demeter Investment Managers, Financière Serthi, and Rev3 Capital
Spotlight Medical, a precision medicine startup, raised a ~€6m round from Kurma Partners and Heal Capital
Symalean, a Quality/Health/Safety/Environment (QHSE) management software provider, raised a €5m round from Groupe Turenne Capital
Scalingo, an enterprise cloud hosting solution, raised a €3.5m round from Side Angels, Financière Cajuba, Neo Founders, Bpifrance Investissement, Caisse d'Epargne, and BNP Paribas
Swaive, an investment platform, raised a ~€2m round from Aglaé Ventures, Motier Ventures, Kima Ventures, Better Angle, and business angels
Handiwork, a professional training and job platform for disabled individuals, raised a ~€1m round from IRDI Soridec Gestion, Federal Finance Gestion, and Caisse des Dépôts et Consignations
Tracklab, a compliance management solution for the food and agriculture sectors, raised a ~€1m round from Kima Ventures and business angels
NB: The deal activity summary only includes equity rounds with a disclosed deal size > €1m
That’s all for this week folks - thanks for reading! Subscribe to receive new posts straight to your inbox every week
Disclaimer
The views expressed in this newsletter are my own and do not reflect the opinions or positions of my employer. While I make every effort to ensure the accuracy of the information provided, I accept no liability for any errors or omissions.