Dealflow France #5: Gauss Fusion raises €10M. Medicalib acquires Maddie. 5,000+ jobs created by French startups in 2023.
Welcome to the 5th 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 €5M to €10M:
Gauss Fusion secures €10M to advance nuclear fusion technology and establish a center of excellence in Mérignac. The startup aims to build Europe’s first fusion power plant by the 2040s.
Comand AI raises €8.5M in a round led by Eurazeo, with participation from Frst and Expeditions, to expand its AI-driven military command platform, Prevail, across NATO countries.
Astraveus secures €7.1M from the French State to build manufacturing infrastructure for its Lakhesys Cell Factory. The funding is part of France 2030, led by Bpifrance, and supports its cell therapy innovations.
Rounds €1M to €5M:
Perha Pharmaceuticals, a biotech in Roscoff, raised €3.1M in a round led by private investors and launched a new €2.9M round. It develops a drug for Alzheimer’s and Down syndrome, now in Phase 1 trials.
RMAN Sync raises €2.3M to expand its AI-powered supply chain optimization solution, Renovatio. The round was led by Caisse d’Epargne Normandie and Normandie Participations.
Alvie raises €2.1M led by Tilia Impact Ventures to develop its AI-powered HYGO solution and expand in Europe.
TETMET raises €1.2M to scale its ultra-light manufacturing tech, backed by id4 Ventures, Wendel, and Super Capital VC.
Little John raises €1.1M in pre-seed funding led by Febe Ventures, Vessoa Private Equity, and Leocare to develop an AI platform for insurance brokers.
Halias Technologies raises €1.05M from Coop Venture, Rhône Dauphiné Développement, and Bpifrance to expand in the industrial monitoring market and hire 10 employees.
Other rounds of funding:
Biper Therapeutics raises €800K from WiSeed and Bpifrance to advance its cancer drug toward clinical trials.
HomeCycle raises €360K led by SideAngels and Jumanji 2030 to grow its appliance rental service in France.
M&A transactions 🎊
Medicalib acquires Maddie to strengthen its position in digital health solutions for healthcare professionals and expand its services for clinics and at-home care providers in France.
EasyVista acquires Germany-based OTRS to expand its ITSM solutions and strengthen its focus on cybersecurity. Backed by Eurazeo, the deal supports EasyVista’s European growth and targets €70M in 2024 revenue.
BlaBlaCar acquires a majority stake in Turkey’s Obilet to expand its multimodal mobility platform, combining carpooling, buses, and trains for global growth.
Artefact acquires Chile-based Brain Food to strengthen its leadership in Latin America's data and AI consulting market and boost global expansion. This move increases Artefact’s regional presence and adds 60+ professionals to its team.
SOS Accessoire acquires SDS Vedelec and Dragon, securing €50M to expand its B2B and B2C appliance parts business across Europe.
Dualsun acquires Meteoptim to add AI technology optimizing solar water heaters, cutting energy use by 30%.
Investor & accelerator news 🚀
M2care raises €20M from Mérieux Développement, Institut Naos, and Crédit Agricole Centre-Est to launch a fund supporting the creation and growth of eight healthtech startups.
France 2030 grants €32.6M to support 48 projects from 33 entities in Sarthe, focusing on reindustrialization, ecological transition, and innovation in key sectors like automotive and energy.
Normandie Participations invests €500K in Team for the Planet, marking the first regional fund to support this nonprofit focused on climate-impact innovations.
2025 VC Trends: French VCs predict a focus on AI, deeptech, and climate innovation, with a shift towards mature, scalable startups. Funds like Daphni, Serena, and XAnge emphasize operational efficiency and impact over growth-at-all-costs.
Startup news 💡
Imki partners with Kiabi to integrate generative AI into fashion collection development, enhancing product creation and market responsiveness.
Pearltrees launches an AI tool for secondary school teachers, aiming to support 120,000 educators by January 2025 with personalized resources to ease workloads and enhance teaching.
BlueCare Discovery joins the Index Blue Tech 2025 for top maritime startups, recognized for developing marine-based solutions, including a microalgae treatment for Alzheimer’s.
Diffuse.ly (formerly Meero) shifts focus to software solutions like CarCutter and ProperShot following a rebranding to move past its troubled history. The company targets €10M in recurring revenue.
Galian Cycles joins Station F's MooveLab accelerator in Paris to fast-track growth. Founded in 2019, the startup designs premium electric cargo bikes that can carry up to two adults and two children.
Solaya wins France 2030's "Convergence IA" challenge for its AI-driven 3D modeling to preserve cultural heritage. The startup is certified as a deeptech by Bpifrance and part of NVIDIA's Inception program.
Citiprofile wins the Eco-Innovation Challenge for its tech analyzing demographics and geographic flows to aid sustainable urban planning.
Usave, a Lille-based startup, has entered liquidation due to funding delays, mixed test results, and retail challenges.
Retrofleet and CBM have opened a site in Nantes to electrify buses, aiming to retrofit 600 annually by 2028.
Apmonia Therapeutics partners with the Max Mousseron Institute to advance cancer therapies and is raising €20M to fund TAX2 trials, supported by €9.5M from the European Innovation Council.
The Alpes-Maritimes Department selected 27 AI startups, including Somanity, Mycophyto, and Nodeus Solutions, for the World Artificial Intelligence Cannes Festival (WAICF) in February 2025, expected to host 15,000 visitors.
Big company & policy news 💡
BNP Paribas has finalized the €5.1 billion acquisition of Axa’s asset management unit, creating one of Europe’s largest money managers with €1.5 trillion in assets. The deal is expected to close by mid-2025.
Sia Partners has sold a minority stake to Blackstone for €250 million, valuing the company over $1 billion, to support its growth in AI and energy transition.
La Matmut, a mutual insurer, has acquired HSBC's life insurance business in France for €925M, managing €20B in assets. The deal was finalized after exclusive negotiations last week.
Interesting reads 💡
Jean de La Rochebrochard, partner at New Wave and Kima Ventures, shared insights on their portfolio's journey. He noted poor performance in 2017 and 2022 but highlighted a turnaround in late 2023 as resilient founders achieved growth acceleration.
The Observatoire de la Fintech reports €1.3B raised in France in 2024, led by Alan (€173M), Akur8 (€108M), and Pigment (€134M). Fintech jobs in the country grew 10%, with upcoming regulations like MiCA and DORA set to impact the sector in 2025.
Red River West highlights France's Top 50 startups with the highest momentum, including The Exploration Company, Beyond Aero, and BforeAI. Notably, two of the top three are led by women CEOs in aerospace.
Simon Ponroy of France Invest reports French startups generated €20.7B in 2023, creating 5,000+ jobs. He highlights robust funding across stages, reinforcing tech’s role in the economy.
Data Recrutement published its 2025 salary study, highlighting startup salaries in Data, Marketing, Tech, and more in Île-de-France. The study shows a growing trend of higher compensation for tech and product roles within startups.
Sillon Alpin released the 4th edition of its "Panorama des startups," highlighting a thriving ecosystem of 730 startups in Grenoble, Annecy, Chambéry, and more. The report emphasizes growth in deeptech, greentech, and industrial innovation.