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  • 🇫🇷 French Tech Updates — March 18, 2024. €78.2M in new funding for French companies.

🇫🇷 French Tech Updates — March 18, 2024. €78.2M in new funding for French companies.

What you need to know this week in France. The country's largest cyber attack, new VC funds, and the EU passes the AI act.

Author

James Saulsky
March 18, 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.

The country of hot takes 🥐

France has been on a hot takes streak lately. From the “correct” way to pronounce brownie to more serious topics like the possibility of deploying NATO ground troops in Ukraine and lobbying efforts to alter the newly passed EU AI Act.

In this week’s newsletter, we’re covering all of these topics and more—including:

  • 💶 €78.2 million in new startup fundraising

  • 🤝 New VC funds

  • 🏴‍☠️ The largest cyber attack in French history

  • 📆 Upcoming startup and VC events

Let’s jump in!

Spotted in Station F. That’s one way to attract new hires.

What’s new this week in 🇫🇷

New Funding 💶

12 companies raised €78.2M in the last week including smaller rounds raised by Life 01 (€1M), Le drive tout nu (€1.2M) Load Stations (€1.2M), and Xperience.immo (€1.7M).

GoFlint | €2.8M | Real Estate

GoFlint, a real estate advertisement portal raised €2.8M. Their services claim to offer affordable ad boosts and provide insights on property prices based on energy efficiency—aiming to match listings with buyer preferences using AI.

GameStream | €4.5M | Gaming

GameStream raised €4.5M to further their ambition of leading Cloud Gaming globally. GameStream aims to offer exceptional streaming experiences using minimal bandwidth for improved availability across different devices.

Kolet | €5M | Telecom

Kolet has secured €5M to tackle costly internet access abroad using eSIM technology. Co-founded by former founders and executives at Swile, KelDoc, Cajoo, and Spades, the company aims to expand eSIM usage for travelers across 180 countries and reach 1 million users by the end of the year.

HawkCell | €5M | Verterinary Care

HawkCell, a Lyon-based vet care and research startup, secures closed a €5M Series A. They plan to use the new funds to scale the business and expand into the North American market with advanced MRI tech for veterinarians.

Anozr Way | €6M | Cybersecurity

Anozr Way, a cybersecurity startup founded in 2019, has raised a €6M Series A. The company has developed software solutions to counter computer attacks that exploit human vulnerabilities, particularly through social engineering techniques like phishing and identity theft. With the new funds, they plan to expand into North America and double the size of the team.

Sublime Energie | €11.5M | Energy

Sublime Energie closed a new round with €11.5M in funding to scale its biogas liquefaction technology. The startup aims to revolutionize biogas valorization by installing its system on a pilot farm, providing additional income to farmers while addressing agricultural and environmental challenges.

Adaptive ML | €18.3M | Artificial Intelligence

Adaptive M, headquartered in New York with an engineering team in Paris, announced an €18.3M seed round Their technology enables companies to continually improve generative AI models with information from user interactions.

Lago | €20M | FinTech

Lago closed a €20M round led by FirstMark to develop an open-source metering & billing platform that aims to streamline billing processes for engineers. Co-founded by former Qonto employees, they have already onboarded several large companies including AI unicorn Mistral.

Events This Month 🗓

What Else I’m Reading 📚