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  • 🇫🇷 French Tech Updates — June 9, 2026. €200M in new funding for French companies.

🇫🇷 French Tech Updates — June 9, 2026. €200M in new funding for French companies.

What you need to know this week in France: 🇪🇺 EU agrees to simplify the AI Act, 🤖 Bpifrance, Mistral, and MGX expand Campus AI program.

Author

James Saulsky
June 09, 2026

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 🇫🇷

Bpifrance, Mistral, and MGX expand Campus AI to 3GW

On June 1 Bpifrance, Mistral, and Abu Dhabi-backed MGX signed an agreement to extend the Campus AI program to a nationwide network of AI computing capacity, targeting 3 gigawatts across France with ambitions for 1.4GW at a single campus by 2030. This expansion builds on Mistral's earlier 200MW commitment at Bruyères-le-Châtel and is a more explicit bet from France towards owning its compute stack (hello again digital sovereignty!).

Two French companies join Nvidia's global open source AI coalition 

Nvidia launched the Nemotron Coalition, a consortium of AI labs pooling compute and research aiming to push open-source frontier models forward. Members include France’s Mistral AI and H Company along with Black Forest Labs, Perplexity, Cursor, and others.

EU agrees to simplify the AI Act ahead of August enforcement

The EU reached a provisional agreement on the Digital Omnibus, a package that rolls back parts of the controversial AI Act before its August enforcement deadline, reducing compliance obligations for businesses and removing requirements critics said were unworkable in practice. The changes ease the burden on companies that had been planning for a more demanding compliance regime and reopen questions about how much regulatory teeth the Act will actually have when enforcement begins.

🌍 Headlines from around the world

  • 💰 Ramp raised $750 million at a $44 billion valuation, led by Iconiq, GIC, and Ontario Teachers' Pension Plan (Crunchbase)

  • 🚀 SpaceX launched its roadshow targeting a $1.75 trillion valuation and first trading day of June 12 for the largest IPO in history by a wide margin (CNBC)

  • 🤖 Anthropic filed a confidential S-1 on June 1 targeting a ~$1 trillion IPO valuation, with revenue running at $47 billion annually (TradingKey)

  • ⚖️ Florida became the first US state to sue OpenAI and Sam Altman directly, seeking to hold Altman personally liable for harms linked to ChatGPT (TechCrunch)

  • ☁️ Supabase raised $500 million at a $10.5 billion valuation to expand its open-source developer and AI app-building platform (Crunchbase)

  • 🔍 AlphaSense raised $350 million at $7.5 billion after surpassing $600 million in ARR, with Accenture signed as its first strategic channel partner (AlphaSense)

  • ⚛️ Oxford Quantum Circuits raised £260 million in Europe's largest-ever quantum VC round (Tech Startups)

  • 🤝 Nvidia acquired predictive AI startup Kumo AI for more than $400 million, adding enterprise foundation model capabilities for business prediction (SiliconANGLE)

  • 🛡️ Anduril raised $5 billion at a $61 billion valuation, double its valuation from less than a year ago, as defense tech funding hits historic levels (Crunchbase)

  • 🔬 Apoha emerged from stealth with $36 million to build a scientific data layer that models how molecules and materials behave under real-world conditions (Tech Startups)

New Funding 💶

8 companies announced €200.725 million in new funding last week.

TIVA | €525k | 🏅 Sports

TIVA raised €525K in a Pre-Seed round led by APEX Ventures to expand what it calls "performance cosmetics" or grip-enhancing gels and friction-reducing balms for competitive athletes managing sweat, slippage, and hand fatigue, made with silica, peppermint oil, and menthol. Already in use at HYROX and ATHX competitions, the company is rolling out dispensing stations in European gyms and CrossFit boxes. WTA tennis player Elina Svitolina also joined on as investor and ambassador.

Primomanda | €600k | 🏠 Proptech

Primomanda raised €600K from a group of business angels, including real estate and tech sector veterans, to develop its platform for exclusive paid real estate mandates. Non-exclusive mandates create inefficiencies for agents, sellers, and buyers alike, and Primomanda's scoring and matching system aims to improve how agents get selected upfront. The company already has a national partnership with Arthurimmo.com and is now expanding across France.

Upstream | €2.6M | 🗣️ AI Agents

Based in Paris at Station F and part of Y Combinator's latest cohort, Upstream raised €2.6 million ($3 million) in a Pre-Seed round with Connect Ventures, Kima Ventures (Xavier Niel), and angel investors including the founders of Algolia, Alan, Framer, and Webflow. The company is building a collaborative AI-native email inbox for teams, with shared context, smart prioritization, automated drafting, and spam filtering, on the premise that email is not going away and the tooling around it is ready to be rebuilt.

Noa | €5M | 🎧 Consumer Tech

Noa raised €5 million in a Pre-Seed round led by Founders Future with Kima Ventures, Drysdale Ventures, Eden, and Intuition. The Paris-based startup is building an online fitness and pilates app designed primarily for women, with plans to expand into nutrition, meditation, sleep, and cycle tracking under a premium wellness brand.

NPCo | €6M | 🤖 AI

Based in Paris, NP Company (NPCo) raised €6 million in a Pre-Seed round led by Partech with angel investors including Guillaume Lample and Cédric O (cofounders of Mistral AI), Florian Douetteau (founder of Dataiku), Vincent Luciani (CEO of Artefact), and the Peugeot family office. A 2025 spinout from Inria, the company applies Transformer-based foundation models to physical simulation for aerospace, defense, energy, automotive, and semiconductor design, replacing simulations that currently take hours or days with results running orders of magnitude faster. The round will fund hiring across AI research and computational physics. The company's benchmarks show 1,000x acceleration on aerospace simulations, with the founders claiming the approach can reach 50,000x on full assembly models.

Innovorder | €20M | ↔️ B2B Software

Paris-based Innovorder raised €20 million in a growth round led by UL Invest, the family office of entrepreneur Laurent Useldinger, with existing investor Evolem remaining on the cap table. The company makes a SaaS platform for restaurant operations covering orders, payments, kitchen management, and analytics and is used by contract catering groups like Sodexo, Elior, and Compass.

InnovaFeed | €51M | 🌾 Agritech

InnovaFeed raised €51 million in a growth round from its existing investors, including Temasek, Qatar Investment Authority, Archer Daniels Midland, Creadev, French Food Capital, and ABC Impact. The company farms black soldier fly larvae at industrial scale and converts them into protein ingredients for pet food and aquaculture, with its main factory in Nesle in the Somme. The raise comes alongside a plan to cut roughly 60 of its 300 employees and close its R&D pilot site at Gouzeaucourt, a reorientation the company describes as pivoting from R&D to commercial acceleration now that its factory has proven it can produce at scale. InnovaFeed has raised nearly €500 million total, 96% from private sources—a number it's making sure people notice after Ynsect raised €148 million in public funding before going into liquidation last December. It's targeting profitability within two years and €13.5 million in revenue by year end.

Quobly | €115M | 🖲️ Quantum Computing

Based in Grenoble, Quobly raised €115 million in a Series A round led by Bpifrance, SEALSQ, and STMicroelectronics with the European Innovation Council Fund, Blast, ALIAD (Air Liquide Venture Capital), and historic investor Innovacom. The company builds silicon-based quantum computers using the FD-SOI manufacturing processes already running in semiconductor fabs—betting that quantum computers built like chips will scale faster than those that don't. Founded in 2022 by CEO Maud Vinet, Quobly has 100+ employees across Grenoble, Singapore, and Canada and plans to deploy its first commercial system via cloud access by end of 2026, with HPC infrastructure deployments in 2027.

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