• French Tech Updates
  • Posts
  • 🇫🇷 French Tech Updates — September 22, 2025. €209.7M in new funding for French companies.

🇫🇷 French Tech Updates — September 22, 2025. €209.7M in new funding for French companies.

What you need to know this week in France: 🥊 wealth tax blow-up at FDday, ❌ US imposes $100K fee on new H-1B visas, 📱 Back Market opens physical stores & enters repairs services.

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.

Help not wanted

In another fantastically ill-planned move, the Trump administration signed an executive order last Friday that imposes a new $100,000 one-time fee on all new H-1B visa applications for skilled workers. The H-1B program is was frequently used by US-based tech companies to hire foreign talent, including nearly 15,000 H-1B visas sponsored by Google, Meta, and Microsoft just last year.

On face value, this should be good for Europe…right? The US is intentionally trying to dissuade companies from hiring outside of the country and some European founders are already jumping on the opportunity to hire more of these skilled workers in Europe. Europe has long been aware of the risk of brain drain and Macron has even previously spoken about how France needs to do more to nurture and retain tech talent.

In practice, I expect the fallout will be more complicated than US 0, Rest of the World 1.

We live in strange times where tech companies are laying off thousands of employees to be replaced with automations while AI researchers are simultaneously negotiating pay packages in the hundreds of millions. Some American tech companies will no doubt ramp up replacing roles that could be filled with H-1B workers with AI while the behemoths at the top will eat the $100K fee as a cost of doing business.

The new rules also only apply to new H-1B visa applications, so don’t expect a rush of tech talent returning to Europe from the US, especially when a recent survey of Product Managers show continental European salaries only reaching 60% of the pay offered in the US for the same level roles. Money isn’t everything, but a 40%+ pay-cut is a tough pill to swallow.

Where this could lead is to an environment where American tech giants continue to pay for the very best European talent but younger startups miss out. That $100K fee per application hurts a lot more when your funding is $13 million vs $13 billion and this change will likely weaken hiring options in the US at the Series A level and below.

To win the talent war in the long term though it’s not enough to expect the US to blunder its way to a loss. Europe and European startups need to seriously step up efforts to make working at new, risky tech companies attractive. Which makes the wealth tax debate even more interesting…but more on that later on.

With that, let’s jump into this week’s update!

📝 Quiz: What’s the average total compensation for an L3 engineer at OpenAI?

(answer at the bottom of the newsletter)

  • A.) €220K

  • B.) €359K

  • C.) €519K

  • D.) €997K

What’s new this week in 🇫🇷

  • ⚖️ Proposed wealth tax sparks debate amongst top French founders: Economist Gabriel Zucman’s proposed 2% wealth tax ignited fierce backlash from founders and VCs during a heated debate a FDday. Mistral CEO Arthur Mensch said he “couldn’t afford it,” while Bpifrance chief Nicolas Dufourcq called the tax “absurd.”

  • 📱 Back market goes to main street: Refurbished electronics leader Back Market announced plans to open a store in New York City along with 500 physical points of sale in France. The company is also expanding into repair services in a move to diversify revenue beyond its core online marketplace. The repair service, which will be accessible to current and new customers, can be used ad-hoc or for a monthly €6.99 unlimited subscription.

  • 🚜 Crédit Agricole launches €10M fund:The new agricultural development banking fund will be used to help cash-strapped farmers invest in their businesses and strengthen this important, yet vulnerable industry in France.

  • 📚 OpenClassrooms earns US accreditation: Edtech platform OpenClassrooms became the first French institution accredited to issue U.S. diplomas across five states in addition to France. The company’s programs focus on practical training in fields like UX design, Product Management, and Marketing.

  • 🤝 Doctrine acquires Predictice, its main French competitor: the deal which closed for an undisclosed amount creates a pan-European legal AI platform that serves 25,000 clients across France, Italy, Germany, and Luxembourg.

🌍 Headlines from around the world

  • 🤖 Groq raises $750M at $7B valuation (L’Usine Digitale)

  • 🤑 Nvidia buys $5 billion of Intel stock in a deal to co-develop multiple products (TechCrunch)

  • 🍎 OpenAI doubles down on future hardware plans with multi-million pay packages for former Apple hardware employees (MacRumors)

  • 🧠 Neuralink plans for next human trial focused on speech in October (Bloomberg)

  • 🪓 SoftBank’s Vision Fund will lay off 20% of staff as part of shift to “bold AI bets” (Reuters)

  • 💹 10-year-old travel and expense platform Navan files for IPO (CNBC)

  • 🎫 StubHub stock struggles, falling more than 20% in IPO debut (Reuters)

  • 💰 PE giant Apollo is exploring a sale of AOL following inbound interest in the company (WSJ)

  • ✂️ Fiverr to cut 30% of staff, 250 jobs, as it shifts more work to AI (Reuters)

  • 💸 Jack Altman raises $275M second fund for Alt Capital in one week (TechCrunch)

  • 🥄 Bending Spoons is buying Vimeo in a $1.38 billion all cash deal (Bloomberg)

  • 🗞️ A bunch of things happened with AI darling OpenAI last week

New Funding 💶

23 companies announced €209.7M in new funding last week including €1.5M by Optipus PV (Energy), €1.4M by Eyst Technology (🛡️Insurtech), €500K by Woodlight (🧬 Biotech), and €200K by Darewin Evolution (🧬 Biotech)

10% | €2.4M | 🛍️ Retail

Paris-based 10% has raised €2.4 million to rethink FMCG brand loyalty with its cashback and data platform. The startup gives brands real-time access to receipt-level data while rewarding shoppers directly, cutting out intermediaries. Backers include Speedinvest, True, and Kima Ventures.

ORIS Materials Intelligence | €3M | 🏗️ Construction Tech

Paris-based ORIS Materials Intelligence has raised €3 million to expand its platform for designing low-carbon transport infrastructure. Spun out from a major materials group, the startup helps engineers cut CO₂, reduce costs, and improve resilience across road and rail projects. ORIS already works with Bouygues, AECOM, and UNIDO.

Moïz | €3M | 🏭 Industrial Tech

Grenoble-based Moïz has raised €3 million to industrialize its battery-free, wireless sensors powered by waste heat from industrial processes. The startup’s tech helps reduce maintenance costs and eliminate polluting batteries in IoT deployments. Backers include Grenoble Angels, Rio Tinto Ventures, and Crédit Agricole, with funds supporting product rollout and a team expansion.

Moodwork | €3.1M | 🧘 Healthtech

Paris-based Moodwork has raised €3.1 million to scale its AI-powered platform that helps companies tackle workplace mental health. The startup offers personalized tools for stress prevention, burnout reduction, and organizational risk assessments. Already profitable, Moodwork plans to expand across industries and grow its team amid rising demand across Europe.

Temelion | €3.2M | 🏗️ Construction Tech

Toulouse-based Temelion has raised €3.2 million to automate building engineering tasks with AI. Its platform helps engineers skip repetitive paperwork and focus on design by generating technical docs and evaluating bids. The seed round, led by 360 Capital and ISAI Build, will fund product development and go-to-market efforts.

Alltheway | €3.5M | 🧳 Travel Tech

Paris-based Alltheway has raised €3.5 million to expand its baggage logistics platform, which lets travelers check luggage from city centers and retrieve it at their destination. Used by Air France, Accor, and SNCF, the startup aims to become the OS for baggage in mobility and hospitality, with new markets targeted in the U.S. and Morocco.

Load Stations | €4.5M | ⚡ Mobility

Nîmes-based Load Stations has raised €4.5 million to scale its EV charging management platform. The startup aims to hit 400,000 public charge points in France by 2030, up from 170,000 today, targeting municipalities, fleets, and co-ops. It expects 400% growth in 2025, expanding beyond its current 20,000 users and 5,000 managed stations.

Les Nouvelles Fermes | €5M | 🌿 Agritech

Bordeaux-based Les Nouvelles Fermes has raised €5 million to build Europe’s largest aquaponics farm on the site of a former landfill. The startup combines fish farming and plant cultivation in a closed-loop system, with production set to begin in spring 2026. The round was led by Starquest Capital and Maif Impact.

Juisci | €5.5M | 🧠 Healthtech

Paris-based Juisci has raised €5.5 million in seed funding to expand its platform that helps healthcare professionals digest scientific research. With 200,000+ users in 60 countries, Juisci turns complex medical literature into bite-sized insights, videos, and infographics. The round will fuel U.S. expansion and further R&D.

Carsup | €7M | 🚗 Mobility

Paris-based Carsup has raised €7 million to expand its luxury car concierge network, with 20 new locations planned across Europe by 2026. The startup offers storage, transport, maintenance, and digital management tools for classic and high-end sports cars. Backed by partners like Ferrari, Carsup currently services over 1,800 vehicles through 25 sites.

Genoskin | €7.4 | 🧬 Biotech

Toulouse-based Genoskin has raised €7.4 million ($8.7 million) to expand its ex vivo human skin models as an ethical alternative to animal testing. The startup uses donated human skin to create live platforms for drug and medical device testing, already used by major pharma clients. The funding will support global expansion and automation of its France and U.S. facilities.

Rofim | €10M | 🏥 Healthtech

Marseille-based Rofim has raised €10 million to grow its telemedicine platform for hospitals and healthcare pros. Already used by 70,000+ practitioners and 1,700 facilities, the SaaS tool enables secure file sharing, teleconsultations, and remote expertise. The funds will fuel R&D and expansion into Germany, Italy, Spain, and the UK.

Seyna | €10M | 🛡️ Insurtech

Paris-based Seyna has raised €10 million to scale its tech platform for insurance brokers. The startup helps brokers create and manage custom insurance products, leveraging AI to automate tasks like pricing and portfolio monitoring. With €91M in gross written premiums and clients in five countries, Seyna plans to boost tech investment and expand across Europe.

Tafalgie Therapeutics | €12M | 💊 Biotech

Marseille-based Tafalgie Therapeutics has raised €12 million to advance its non-opioid pain treatments, including its lead drug TT5 now in Phase 1 trials. Spun out of CNRS and Aix-Marseille University, the biotech is developing TAFA4-based compounds to target pain without the addictive risks of opioids. The funds will support clinical development and team expansion ahead of Phase 2A trials.

Vizzia | €16M | 📹 Security

Paris-based Vizzia has raised €16 million to expand its low-tech video surveillance systems for local governments across France and Europe. Unlike AI-heavy rivals, Vizzia uses 4G/5G cameras with motion detection and image comparison, already serving 200+ cities. Its GDPR-compliant, sovereign infrastructure is pitched as a European alternative to U.S. players.

DeFacto | €16M | 💰 Fintech

Paris-based DeFacto has raised €16 million to scale its real-time credit platform for SMEs across Europe. The startup uses AI and open banking to automate short-term financing, already lending over €1 billion to 17,000 companies in under four years. Its “API-first” strategy and in-house tech stack allow fast, partner-integrated lending via platforms like Qonto and Malt. With backing from Citibank and Viola Credit for €300 million in loans, DeFacto aims to hit €10 billion in financing by 2026 — and become a key player in Europe’s credit infrastructure just as mandatory e-invoicing kicks in.

Finary | €25M | 💰 Fintech

Paris-based Finary has raised €25 million in a Series B round backed by PayPal Ventures, Y Combinator, and other notable investors like Hedosophia and LocalGlobe. The startup offers a wealth management platform that aggregates all of a user’s financial assets from bank accounts and stocks to alternative investments like classic cars in one place. With over 600,000 users and connections to 20,000+ financial institutions, Finary plans to use the funding to boost its AI tooling, launch new financial products, and expand across Europe with an aim to reach €5 billion in assets under management within three years.

La Fourche | €31.5M | 🛒 Food & Beverages

Paris-based La Fourche has raised €31.5 million in fresh funding from Bpifrance’s Large Venture fund, Astanor, and existing investors to consolidate its position as France’s leading independent online organic supermarket. With over 150,000 members and 36% growth this year, the startup is aiming for €100 million in revenue and profitability by the end of 2025. The new capital will go toward automating its warehouse, expanding delivery, enhancing the customer experience, and growing its German subsidiary, Ackerherz. La Fourche also formalized its status as a mission-driven company with a focus on sustainability and accessibility.

Genomines | $38M | 🌱 Clean Tech

Paris-based Genomines has raised €38 million ($45 million) in a Series A round to scale its plant-based nickel extraction platform—essentially a way to produce metal from plants. The company uses genetically modified “hyperaccumulator” plants to farm battery-grade nickel more cleanly and cheaply than traditional mining. Backers include Engine Ventures, Forbion BioEconomy, and Hyundai Motor Group, with funds earmarked for South African pilot projects and commercial expansion. Genomines is betting that plant-powered metals could become a scalable alternative in the resource-constrained battery supply chain.

Upcoming Events 🗓

Interesting Jobs 👩‍💻

What Else I’m Reading 📚

  • The Wager: A Tale of Shipwreck, Mutiny and Murder (David Grann)

  • Why the $300 billion Oracle-OpenAI deal could be fueling an AI bubble (Market Watch)

  • OpenAI’s $350 Billion Computing Cost Problem (The Information)

Newsletter Recommendations 🫶

Techpresso

Why you’ll like it: Daily updates on the latest tech and AI news in an easy-to-read format. Stay in the know while finishing your morning coffee.

A Smart Bear: Longform

Why you’ll like it: Practical insights from building two unicorn companies, covering product, growth, prioritization, and much more.

Quiz Answer: B.) €359K

According to data from levels.fyi.