Dealflow France #3: Cilcare raises €40M. Data Legal Drive acquired. Lauxera Capital closes €300M fund.
Welcome to the 3rd edition of the Dealflow France newsletter: a weekly summary of everything that happened in the France startup and investment ecosystem.
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Startup funding news 💸
Rounds €50M+
Elyse Energy raises €120M led by Hy24, PGGM, Bpifrance, and Mirova to scale production of sustainable fuels and e-methanol for aviation in France, Spain, and Portugal.
Rounds €10M to €50M:
Cilcare raises €40M in a Series A led by SHIONOGI & CO., Sprim Global Investments, and others to advance treatments for early hearing loss. Funds will support phase 2a trials, R&D, and AI-driven biomarker development.
Groupe Gascogne raises €20.9M to fund a new paper machine at its Mimizan site, improving efficiency and environmental performance. The round was led by Attis 2, which now holds 72.53% of the company’s capital.
Happydemics raises €13M in a Series B led by Wille Finance and Adelie Capital to expand internationally, targeting the UK, US, Germany, Italy, Spain, and the Middle East. Funds will support growth in advertising effectiveness measurement.
Orakl Oncology raises €11M led by Singular to enhance its tumor avatar platform and expand R&D for digestive cancer treatments. Funds will support team growth and commercial development.
Rounds €5M to €10M:
Pathway raises $10M in a seed round led by TQ Ventures, with participation from Kadmos Capital, Inovo VC, Market One Capital, and id4 Ventures. The Paris-founded startup, now based in the US, develops real-time data integration tools for AI models.
Omnidoc raises €6M to enhance its tele-expertise platform and expand internationally. The round was led by Alven, with Kurma and Newfund participating.
Rounds €1M to €5M:
GROWL raises €4.5M to launch its connected punching bag. The round was led by Skip Capital with participation from Kima Ventures, Teampact Ventures, and UFC champion Cyril Gane.
Vetbiolix, based in Lille, raises €4M led by CapTech Santé and Bpifrance to fund clinical trials for canine arthritis and parodontitis treatments.
The Blockchain Group raises €2.5M to strengthen its Bitcoin treasury strategy and support subsidiary development.
Biomanity raises €2.2M to boost innovation and develop sustainable solutions in green chemistry.
Load Stations raises €2M to accelerate growth and fund R&D for its smart electric mobility solutions. The Nîmes-based startup achieved profitability in its first year.
Pess Energy raises €2M led by Rise Partners, IODA Consulting, and Région Sud Investissement to scale battery production.
Objow raises €2M led by Edenred Ventures and Bpifrance to scale its performance management platform and expand in Europe.
Enakl, a Moroccan-French mobility startup, raises $1.4M pre-seed led by Catalyst Fund with support from Renew Capital, Digital Africa, and others. Funds will boost Casablanca operations and AI-driven route optimization.
Mirabelle raises €1.3M led by Groupe Inter Invest and Bpifrance to expand its reverse mortgage platform for seniors.
M&A transactions 🎊
Data Legal Drive, a startup specializing in legal data management, has been acquired for €35M. The deal highlights growing interest in legal tech innovation and ongoing sector consolidation.
Deliverect acquires Tabesto, a startup specializing in self-service ordering kiosks with over 4,000 deployed in 1,400 restaurants. Tabesto will now operate as "Deliverect Kiosk" to drive global expansion.
Cosmo Tech, a French AI simulation software leader, secures a majority investment from Insight Partners and former Accenture executives to boost enterprise solutions and expand into North America with a DC metro office.
Ulule, a leading crowdfunding platform, has acquired KissKissBankBank, another major French crowdfunding site, from La Banque Postale. The move strengthens Ulule’s market position and expands support for creative and entrepreneurial projects.
Mambu acquires Numeral to boost its payment capabilities and expand its cloud banking platform, supporting global growth.
Andera Partners takes a minority stake in 2CGroup to boost its organic and external growth. 2CGroup offers finance, HR, marketing, and ESG expertise across six French offices.
PCS2 finances Bridgepoint Development Capital's acquisition of Private Sport Shop, a leading French online sports retailer with 8M members.
TotalEnergies acquires Germany’s VSB Group for €1.57B, expanding its renewable energy portfolio in wind, solar, and battery projects.
Money Flow, a debt recovery firm based in Cholet, has joined In Extenso, becoming "Money Flow by In Extenso." This acquisition enhances In Extenso’s services for SMEs in the Centre Ouest region and supports Money Flow’s growth.
Septeo acquires Ymag to establish an education division, expanding its presence and services in the sector.
Proméom, formed by merging L’Agemetra and AST Grand Lyon, becomes the region's top occupational health operator, focusing on tailored worker support.
Blanchon Group acquires Germany’s Dr Schutz to strengthen its market position and expand floor care offerings in Europe.
Alliance Étiquettes acquires Italy's Samorani Group to expand operations and strengthen its position in the label industry.
Macopharma acquires LMB Technologie to expand its product offerings and strengthen its presence in the medical technology sector.
Agiscom acquires Link Elec to strengthen its position in the electrical engineering sector and expand service offerings.
Keepers acquires a stake in Pulse to support its growth and strengthen its position in the financial sector. The partnership targets clients with assets below €100M.
Solina acquires Italy’s MTA to strengthen its market presence and diversify its food industry solutions.
BTC Group acquires Cuvelier to expand its offerings in formwork, shielding, and construction site services.
Newrest acquires Gepsa to expand its service offerings and strengthen its position in managing sensitive sites.
Artelia acquires ADP Ingénierie to strengthen its engineering capabilities and expand its service offerings, supporting future growth in the sector.
HL Robotics acquires a majority stake in French startup Stanley Robotics to expand its global automated parking solutions.
Virbac acquires Mopsan to expand its presence and distribution network in Turkey, leveraging local market expertise.
Europlasma acquires FP Environnement through a court process to support its strategic growth initiatives.
Investor & accelerator news 🚀
Lauxera Capital Partners announces a €300M first closing for its second fund, Lauxera Growth II, aiming to create European HealthTech leaders. Investors include Bpifrance, FEI, and family offices, with a final target of €400M by mid-2025.
Daphni, Live for Good, Les Déterminés, and HEC Paris launch Time4, a €100M fund to support entrepreneurs from diverse or rural backgrounds. The fund aims to invest in 100 projects across France, fostering inclusion and innovation in underrepresented communities.
Pierre-Yves Meerschman, co-founder of daphni, unveiled Flamel, their internal OS designed to connect entrepreneurs with valuable contacts and insights, streamline dealflow, and leverage Gen AI for enhanced VC operations.
WeForge, based in Angers, opens a new branch in Le Mans to support regional entrepreneurs. The expansion aims to enhance access to resources and foster local startup growth.
SG Planète A launches a new startup cohort in Nantes to support innovative projects. The program offers mentorship, resources, and funding to boost entrepreneurship and regional economic growth.
Start-Up Win, founded by Bernard Magrez, announces its fifth cohort, "Primeurs," to support innovative wine-tech startups and drive industry growth.
Cathay Innovation launches C.Lab to help European startups enter Silicon Valley and support corporations adapting to generative AI-driven changes.
Startup news 💡
FloodFrame wins the 2024 Fundtruck x FT Rise with its flood protection solution, securing €300K in services from partners like Bpifrance and Orange Ventures.
Solikend raises over €1M in donations to support social and solidarity projects, aiming to expand its impact and assist more people in need.
Pharmazon, based in Orléans, wins a legal case against Google, with the court upholding its online pharmacy sales and delivery model.
Mata and Facila win the SophIA Awards, recognizing technological innovation in startups. Their project was praised for its creativity and industry impact.
MyEasyFarm, based in Marne, partners with Saint Louis Sucre in Picardie to enhance agricultural practices and drive innovation in the sugar industry.
Mon Ami Poto, a fintech by Ryad Boulanouar, launches a blockchain-based donation platform using its digital currency, POTO, to enhance transparency and impact.
Lundi Matin joins the ETIncelles accelerator to access resources and mentorship, supporting its growth and development.
Big company & policy news 💡
Nike shuts down RTFKT, co-founded by French entrepreneur Benoit Pagotto, less than three years after acquiring the Web3 startup. Known for NFTs and virtual sneakers, RTFKT struggled to gain mainstream traction.
Microsoft launches an AI school in Saint-Brieuc with eight partner companies to train professionals and meet growing demand for tech skills.
Neoma Business School invests €136M in a new campus to modernize infrastructure and provide a high-quality learning environment, strengthening its reputation in business education.
Interesting reads 💡
Charlie Perreau, journalist at Les Echos, published “Salaires de la French Tech : la revanche des commerciaux et des responsables marketing,” exploring salary trends in French startups, with sales and marketing roles seeing notable increases in 2024.
Clément Delangue, CEO of Hugging Face, shares bold AI predictions for 2025, including public protests and breakthroughs in biology, while reflecting on his accurate 2024 forecasts.