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  • 🇫🇷 French Tech Updates — February 23, 2026. €69.6M in new funding for French companies.

🇫🇷 French Tech Updates — February 23, 2026. €69.6M in new funding for French companies.

What you need to know this week in France: 🤝 Mistral completes its first acquisition, 💶 €895M in new VC funds, 🇮🇳 Macron talks AI in India.

Welcome to French Tech Updates! Your weekly source of startup, VC, and tech news and insights. I’m James, a startup-obsessed American living in Paris.

What’s new this week in 🇫🇷

Mistral has completed its first acquisition with the purchase of Koyeb, a serverless infrastructure startup founded by three Scaleway alumni in 2020. As part of the deal, Koyeb’s 13 person team will join Mistral to continue building their tools to help developers deploy AI apps.

The news follows hot on the heels Mistral’s €1.2B Swedish data center investment announcement last week and marks another commitment to advancing Mistral Compute— the sovereign European AI cloud launched by Mistral last year.

The new €100 million Digital Health Prevention Fund, co-backed by Banque des Territoires, CNP Assurances, and others will back 15 seed to growth-stage startups building digital prevention tools for AI-powered disease detection, chronic disease management, and behavioral health improvements.

Interestingly, the fund has also explicitly committed to measuring health outcomes from its investments. Bpifrance is coming off of a busy 2025 that saw €559M invested in 155 companies and €72B total injected into the French economy across equity investments and loans.

The Cerea Agro Dev Industrie (ADI) fund officially launched with a first close at €250 million and a €500 million total target. The fund, managed by Cerea Partners, will write €10–€50 million checks into French agritech SMEs and mid-sized companies focused on competitiveness, ecological transition, and sector consolidation.

Money may still not grow on trees, but half a billion euros to invest in food supply chains will certainly help those trees to grow. Interestingly, a stated objective of the fund is to bolster “French industrial and food sovereignty,” which mirrors the digital sovereignty wave sweeping Europe this year.

As a Bostonian living in Paris it warms my heart to see this Paris and Boston-based startup studio close the first €44 million tranche of a new €75 million fund. OSS Ventures focuses on physical world startups building the “brain” of modern factories. The new fund will back 20-30 startups with initial tickets of €500K–€2M, with follow-ons up to €6M.

Since 2019, the studio has spun up 22 startups now deployed across 3,800 factories worldwide including some familiar names to French Tech Updates readers like Bonx, fabriq, and Cognyx.

The Paris-based fund, one of a handful of VCs focused exclusively on quantum, has closed an oversubscribed €220 million fund to back 25 startups from pre-seed to Series A rounds across quantum computing, sensing, communications, and infrastructure like control electronics and networking. Tickets will range from €200K to €12 million with up to €20 million available for follow on investments.

🙋‍♂️ Quiz: According to research from Stanford, which angel investor has backed the most companies (23 total) that went on to reach $1 billion+ valuations?

(answer at the bottom of the newsletter)

  • A.) Marc Andreessen

  • B.) Gary Tan

  • C.) Peter Thiel

  • D.) David Morin

🌍 Headlines from around the world

🧠 Ex-DeepMind scientist David Silver seeks $1B for ‘superhuman intelligence’ startup, in a deal that could mark Europe’s biggest ever seed round (Sifted)

🤖 Macron, Mensch, and other leading French figures attended India’s AI Summit to strengthen relations between the two countries (French Tech Journal)

👨‍⚖️ French legaltech Doctrine continues its European expansion with an acquisition in Spain (Maddyness)

🇳🇱 Amsterdam-based AI firm Nebius to build 240MW data centre near Lille, France (Reuters)

🔊 OpenAI will reportedly release an AI-powered smart speaker in 2027 (engadget)

🇮🇳 India bids to attract over $200B in AI infrastructure investment by 2028 (TechCrunch)

🚙 Lucid Motors is cutting 12% of its workforce (Layoffs.fyi)

🕶️ Apple is working on a series of AI wearables (Bloomberg)

🦞 OpenClaw creator Peter Steinberger has joined OpenAI (Observer)

New Funding 💶

12 companies announced €69.6M new funding last week including €400K by Moneyshape (💳 Fintech) and €500K by Green4Cloud (💻 Platform Engineering)

Weytop | €1.7M | 💻 Platform Engineering

Weytop raised €1.7 million led by Nantes-based fund Ewak to accelerate the rollout of its desktop virtualization software. Founded in 2024, the company offers a French alternative to dominant US providers by allowing organizations to run virtual workstations with performance close to a local computer, either on-site or in the cloud, with pricing tied to infrastructure rather than per user. Already used by public institutions and universities, Weytop is leaning into the growing demand for digital sovereignty and budget predictability in IT—two topics that tend to unlock procurement doors.

Solaya | €2M | 🤖 AI

Solaya, based in Nice, raised $2 million in a Seed funding round led by Betaworks and launched its mobile app that turns simple videos of real-world objects into detailed 3D models, no special equipment required. The startup uses artificial intelligence to reconstruct physical objects in 3D, enabling applications in e-commerce, industrial design, digital twins and robotics, and already counts clients such as LVMH and SNCF. As AI moves beyond text and images into understanding the physical world, Solaya is betting that easy, scalable 3D capture will become core infrastructure rather than a niche creative tool.

THE 8 IMPACT | €2M | ♻️ Circular Economy

THE 8 IMPACT raised €2 million in a round led by Bpifrance. The Saint-Rémy-based startup creates recycled materials for sneaker soles made from end-of-life shoes and tennis balls. Their patented mechanical process turns waste into high-performance materials without water or chemical solvents to reduce carbon emissions by up to 50%. Their solution is already in use by Veja and will be deployed by Decathlon starting this year.

Rivage | €2.6M | 👥 HR Tech

Paris-based Rivage raised €2.6 million in a pre-Seed funding round to roll out its payroll software across accounting firms. Founded in 2025, the company builds an open, interoperable payroll platform designed to automate calculations, handle France’s complex collective agreements, and reduce the manual workload that still dominates payroll processing; it is already live in eight firms and covers 40 agreements. With a goal to reach 150 collective agreements by the end of 2026—covering most of the French workforce—Rivage is targeting a huge but technologically under-served corner of the economy.

Neurinnov | €2.5M | 🩺 Medtech

Neurinnov, based in Montpellier, secured €2.5 million from the European Innovation Council accelerator to advance its implantable neurostimulation device for people with complete tetraplegia. The company is developing a system that sends targeted electrical signals through nerves to reactivate specific muscles, with the goal of restoring functional use of a hand for everyday tasks like grasping objects. If successful, it could offer a new level of independence for patients with severe paralysis—and potentially expand to other motor impairments over time.

Ocellus | €4M | 🎮 Gaming

Based in Lyon, Ocellus raised €4 million in a funding round led by Elevation Capital Partners to expand its in-house game development studio. Known since 2016 for producing stylized art and animation for major studios such as Supercell and Epic Games, the company is now doubling down on creating and publishing its own intellectual property through small, autonomous teams. The shift from service provider to IP owner could significantly change its economics—assuming it can turn creative ambition into hit titles.

Newable | €4M | 🏠 Proptech

Bordeaux-based Newable raised €4 million in a pre-seed funding round to roll out low-carbon heating and cooling systems in commercial buildings. The company installs and operates on-site energy systems for property owners, aiming to cut emissions and stabilize energy costs in a sector where heating and cooling account for the bulk of consumption. With regulatory pressure mounting on real estate owners to decarbonize, Newable’s model—acting as both installer and long-term operator—targets a large, under-served slice of building emissions.

Skydrone Robotics | €5M | 🚁 Drone Tech

Skydrone Robotics raised €5 million to accelerate the industrialization and deployment of its intervention and logistics drones in the energy and defense sectors. After several years of technology development and field validation, the company is scaling production capacity in France and expanding internationally, targeting environments where service continuity and technological sovereignty are critical. As civil and military operators look for reliable European drone suppliers, Skydrone is positioning itself as a sovereign alternative in a strategic market.

ISYBOT | €7M | 🦾 Robotics

Based in Paris, ISYBOT raised €7 million in a funding round led by Supernova Invest and Bpifrance to industrialize its collaborative robots for sanding and grinding tasks. The company builds plug-and-play cobots that work alongside human operators to handle physically demanding finishing work in sectors like aerospace and rail, reducing strain and reportedly tripling productivity in some cases; more than 70 units are already deployed. With demand for flexible automation rising across European factories, ISYBOT is scaling production and expanding beyond France.

Firecell | €7.9M | 📱 Telecom

Based in Nice, Firecell raised €7.9 million and merged with Belgian company Accelleran to build a pan-European provider of private 5G networks for industry, ports and defense. Firecell develops software-based core network technology, and the combined group will offer an integrated, European-built 5G platform designed to give factories and critical infrastructure highly reliable, low-latency connectivity for robots, drones and autonomous machines. As industrial players look for sovereign alternatives to non-European telecom vendors, Firecell is positioning itself as a local champion in a strategic market.

Vizzia | €30M | 🛡️ Cybersecurity

Security startup Vizzia raised €30 million in a Series B round to expand its video surveillance systems for local authorities, with plans to open offices in the UK and Italy. Founded in 2021, the company builds rapidly deployable, 4G/5G-connected cameras and sensors that detect issues like illegal dumping and other suspicious activity; its tools are already used by more than 250 municipalities and have reportedly reduced illegal dumping by up to 90% in some areas. As public safety climbs the political agenda ahead of municipal elections, Vizzia is positioning itself as a tech supplier to cash-strapped cities that want results fast.

Upcoming Events 🗓

Interesting Jobs 👩‍💻

What Else I’m Reading 📚

The Age of Inevitability: A Silicon Valley Tale (French Tech Journal)

The economics of the Kalshi prediction market (VoxEU)

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Quiz Answer: D.) David Morin

The 45-year-old former Facebook manager got his start at Apple in 2003 before helping to launch Facebook’s 3rd party app platform and going on to a truly prolific angel investing run. 23 unicorn investments later he now serves on the board of OpenClaw (yeah, I didn’t realize they had a board yet either) and runs Offline Ventures with his wife.