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  • 🇫🇷 French Tech Updates — March 2, 2026. €104.8M in new funding for French companies.

🇫🇷 French Tech Updates — March 2, 2026. €104.8M in new funding for French companies.

What you need to know this week in France: 🤖 Doctolib’s €20M AI lab, 🖲️ Pasqal raising at €1B+ valuation, ✂️ AI job cuts and doomerism.

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.

Happy Monday morning!

Last week Citrini Research’s 2028 Intelligence Crisis post on Substack sent the stock market spiraling, which soon sent me into my own spiral as I spent 8+ hours digging into AI doomerism scenarios.

After reading dozens of articles and reports, I’d give these outcomes the following probabilities:

1.) 😬 Moderate Disruption: AI puts significant downward pressure on incumbents, drives down prices, and cuts multiples. Companies rush to catch up and the economy stabilizes after a few very crazy years. ≈70% chance

2.) 😎 Low Disruption: Adoption of AI slows, either due to inertia, regulation, social backlash, or some unforeseen inhibitor on AI’s continued path of improvement. It’s still disruptive, but we get more time to navigate the transition. ≈10% chance

3.) 😱 OMG We Are Screwed Levels of Disruption: AI agents come for us all and the next decade gives way to a tumultuous and painful transition marred by rising and persistent un-or-underemployment. ≈20% chance

I’ve got to say, listening to an interview with the head of Claude Code where he describes his work day spent bouncing around 8+ instances of Claude Code to check in on its progress definitely made me lean harder into the bear case. In his description, it’s very clear he’s the main bottleneck and replacing him with a QA/knowledge base agent would save a lot of time and money…and that’s the guy who is creating these tools.

On the other hand, I heard a story last week about a French SME changing their entire suite of business subscriptions because their accountant wants them to use software that more easily transfers invoices into their accounting tools. So much for prioritizing AI adoption.

If you want to go down the same spiral I did and draw your own conclusions (and I recommend that you do), I’ve included some of the most interesting articles and reports I read under the What Else I’m Reading 📚 section at the bottom of the newsletter.

And with that, let’s jump into the update!

What’s new this week in 🇫🇷

The new lab will focus on creating AI tools for both sets of Doctolib’s users: doctors and patients. The goal is to improve pre-appointment prep and lead improved understanding of diagnoses and next steps. The new applications will be co-developed with the German Research Center for Artificial Intelligence along with several hospitals and labs at sites across Paris, Nantes, and Berlin and any research findings will be published as open-source material. To supplement the AI labs team, Doctolib will hire additional employees to work alongside their partners.

🌍 Headlines from around the world

  • 🤑 Europe’s first €1 billion seed round is in the works (The Next Web)

  • 💰 OpenAI closes historic $110B raise at $730B valuation (Morning Brew)

  • ❌ Anthropic blacklisted by Pentagon after refusing mass-surveillance access Platformer

  • 📈 Nvidia posts record $68B quarter led by $62B in data center revenue and AI token demand going "exponential" (TechCrunch)

  • 🤝 Meta signs up to $100B AMD chip deal to reduce Nvidia dependence (AI Business)

  • 💳 Stripe's valuation jumps 74% to $159B in new secondary share sale (TechCrunch)

  • ✂️ Jack Dorsey cuts 40% of Block's workforce (4,000+ jobs) citing AI transition (BBC)

  • 🏴‍☠️ DeepSeek allegedly trained its upcoming model on banned Nvidia Blackwell chips clustered in Inner Mongolia (Reuters)

  • 🇨🇳 Anthropic accuses Chinese AI labs of running 24,000 fake accounts to extract 16M Claude interactions (The Guardian)

  • 🇺🇸 Apple begins manufacturing Mac mini in Houston as part of its $500B US investment pledge to avoid tariffs (Apple)

  • 💻 Perplexity launched "Computer,” their multiagent system routing tasks across 19 frontier AI models (perplexity)

  • 🇫🇷 French quantum startup Pasqal is reportedly raising €200M at unicorn valuation after its 2023 €100M Series B (Bloomberg)

  • 🇸🇪 Klarna's market cap craters to from $17B to $5B after posting $273M in 2025 net losses (Financial Times)

  • 🇬🇧 eBay acquires UK resale app Depop for £890M — BusinessCloud

New Funding 💶

9 companies announced €104.8M in new funding last week.

Desk | €600K | ↔️ B2B Software

Desk raised €600K from CentraleSupélec Venture, Baluchon, and other investors to scale its operating system for coworking spaces. The software automates booking, billing, and day-to-day management for shared workspace operators, essentially letting them run a complex physical space without building an operations team to match. The company is transitioning to a recurring subscription model and targeting France, Belgium, Switzerland, and the UK by 2027, with an ambition to reach 1,000 equipped spaces.

Revolty | €1M | ⚡ Renewable Energy

Revolty raised €1 million in seed funding from Hexa, 50 Partners, and business angels, including founders of Verkor, Electra, and Murfy, to certify and launch France's first domestically manufactured residential battery in 2026. The product stores surplus solar energy generated by home panels for later use, and its key differentiator is using recycled European lithium cells rather than new Asian-imported ones. Backed by alumni of some of France's most credible energy startups, the round positions Revolty as the circular-economy answer to a residential storage market still dominated by standardized imports.

OOrion | €1M | 🏥 HealthTech

Lyon-based OOrion raised €1 million in seed funding from business angels and Bartimeus (a Franco-Dutch investor network focused on visual impairment) to accelerate commercial deployment of its AI-powered accessibility app. The app uses a smartphone camera to identify and locate everyday objects in real time, solving what the team calls "the last meter" problem: the gap between where GPS drops off and where a visually impaired person actually needs to go.

Opus Aerospace | €1.2M | ✈️ Aerospace

Based in Essonne south of Paris, Opus Aerospace raised €1.2 million through a Sowefund crowdfunding campaign alongside Bpifrance, BADGE, Fives, Itera Invest, and Défense Angels to advance industrialization of its Mésange reusable rocket. The round is intended to bridge to a pre-Series A of ~€5 million planned for late 2026. The company develops small reusable launch vehicles capable of carrying up to 1,000 kg on sub-orbital trajectories and 250 kg to orbit, built around a proprietary 3D-printed heatshield.

Stairling | €1.4M | 🛣️ Transportation

Based in Paris, Stairling raised €1.4 million in seed funding from Side Angels, One Green, and Bpifrance to expand its employment-as-a-service model for ride-hailing drivers across France and into Europe. The platform gives VTC drivers a ready-made employment contract with full social protections (unemployment insurance, pension, health coverage) while letting them keep up to 80% of gross revenue and choose which platforms to work on.

Kimialys | €3.6M | 🩺 Medtech

Paris-based Kimialys raised €3.6 million in a Series A round led by Turenne Santé, with GO Capital, BADGE, Angels Santé, OCTALFA, and Evolem also participating, to industrialize its K-One® nanoparticle-based diagnostic technology. Kimialys sells a plug-in liquid or slide that makes those same machines ten times more sensitive at detecting disease, catching cases that would otherwise slip through as a false negative. Born from 10 years of CNRS research, Kimialys is already being applied in Alzheimer's biotherapies and HIV diagnostics, making this less a science bet and more a commercialization play on a platform that's already proven in the lab.

Meelo | €14M | 💳 Fintech

Three years after raising €3 million, Meelo has completed a new funding round of €14 million. The company sells software that helps large organizations verify new customers, spot fraud early, and predict non-payment risk across industries like banking, insurance, and energy. With 60 signed major accounts, including BNP Paribas, Crédit Agricole, Bouygues Telecom, and Carrefour Banque, Meelo is now aiming to expand across Europe.

Verley | €32M | 🍽️ Food & Beverage

Lyon-based Verley raised €32 million in a Series A round led by Alven, with participation from Sofinnova Partners, Founders Future, Blast, Sparkfood, and Captech Santé, to commercialize its precision fermentation-derived whey proteins in the US market. The company produces dairy proteins without cows, using microorganisms instead, under the FermWhey™ brand, supplying food and beverage manufacturers who want high-protein formulations. Notably, the company secured FDA clearance in 2025 and reports demand already exceeding production capacity, which makes this more of a scale-up story than a technology bet.

Hummingbirds | €50M | 🌡️ Climate Tech

The nature-based solutions developer, raised €50 million to deploy carbon credit projects across Africa, Latin America, and Southeast Asia through a new investment platform called hummingbirds Gondwana. The company designs conservation and ecosystem restoration projects that generate carbon credits for corporate buyers. The round was anchored by Proparco, Swedfund International, and British International Investment at €15 million each, a trifecta of development finance institutions that signals this is less a climate bet and more a sovereign-grade infrastructure play.

Upcoming Events 🗓

Interesting Jobs 👩‍💻

What Else I’m Reading 📚

The 2028 Global Intelligence Crisis (Citrini Research)

On the Garden – against Citrini (Will Manidis)

A Level Headed Look at State of Software (DB Software Musings)

The Future of SaaS – a Fork in the Road (Jared Sleeper, Avenir)

The Adolescence of Technology (Dario Amodei)

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