- French Tech Updates
- Posts
- 🇫🇷 French Tech Updates — July 29, 2024. €75.1m in new funding for French companies.
🇫🇷 French Tech Updates — July 29, 2024. €75.1m in new funding for French companies.
What you need to know this week in France: 🤝 closing deals, 🙅♂️ abandoned deals, 🙋🏼♀️ and new job openings in VC and startups
James Saulsky
July 29, 2024
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.
Let the games begin 🥇
While the eyes of the world turned to Paris last week for the start of the Summer Olympics the French startup world remained relatively quiet.
The summer slow down has definitively begun and hardly a day passes without hearing the expression “à la rentrée.” That said, at least two French companies managed to close larger fundraising rounds last week in the €25-50 million range—a rarity over the past two years.
On a personal note, after missing the passing of the Olympic torch earlier this month, I was able to follow along with the final leg of the journey leading up to the opening ceremony. Standing side by side with families from France, South Africa, Uganda, Australia, and the United States as we watched the flame was an incredible experience and I wanted to share a bit of that fraternal spirit with you through some additional photos at the bottom of the newsletter.
And with that, let’s jump into this week’s update!
What’s new this week in 🇫🇷
🙅♂️ Antin Infrastructure Partners abandons their acquisition of Excellence Imagerie: the deal for the radiology center operator reportedly fell through following the failure to obtain certain regulatory conditions.
🤝 IK Partners acquires minority stake in OCTIME Group: the pan-European PE firm announced the deal last week. OCTIME Group, based in Biron, is a provider HR software solutions with over 6,500 customers in 50 countries.
€75.1 Million in New Funding 💶
4 companies raised €75.1 million in the last week including €900K by Kenko (Insurtech).
D-Ice Engineering | €1.5m | Maritime Deeptech
D-ICE Engineering raised €1.5 million from Pays de la Loire Développement, Atlantique Vendée Innovation, Pays de la Loire Participations, and decarbonization Business Angels. The startup develops solutions for the energy transition and decarbonization of maritime and offshore industries. Their OCEANiCS platform integrates advanced modeling, piloting, weather routing, and energy optimization to enhance maritime operations and significantly reduce ship fuel consumption.
Micropep | €26.7m | Agritech
Micropep Technologies, based in the US and France, hasraised €26.7 million in a Series B funding round led by Zebra Impact Ventures and BPI Green Tech Investment. The startup specializes in micropeptide technology for agriculture, offering crop protection solutions through its AI-powered Krisalix discovery platform. This platform allows for rapid and efficient development of new micropeptide-based active ingredients.
TRiCares | €46m | Medtech
TRiCares, based in Paris and Munich, raised €46 million in Series D funding. The company specializes in minimally invasive treatments for tricuspid regurgitation, a type of heart disease, and plans to use the funds for US and EU clinical milestones for its Topaz transfemoral tricuspid heart valve replacement system. This system, inserted via the femoral vein, offers a unique solution for treating severely ill patients by replacing the diseased tricuspid valve.
Events This Month 🗓
Pretty quiet this month with the Olympics and most of France going on vacation until September. If you have an event you want to highlight, respond to this email with more info!
Interesting Jobs 👩💻
What Else I’m Reading 📚
How French startups are getting involved in the Olympics (Sifted)
France Q2 Tech Update (Dealroom)
The lifecycle of market champions (Bridgewater)
