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- 🇫🇷 French Tech Updates — September 29, 2025. €260M in new funding for French companies.
🇫🇷 French Tech Updates — September 29, 2025. €260M in new funding for French companies.
What you need to know this week in France: 💰 €900M in new VC funds, 📍 Cohere AI expands to Paris, 😅 France may not pass the wealth tax after all.

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.
📝 Quiz: How much has the average AI engineer salary increased over the last 18 months?
(answer at the bottom of the newsletter)
A.) 3%
B.) 5%
C.) 6%
D.) 9%
What’s new this week in 🇫🇷
There were A LOT of news events last week, so I’ve split them into two sections starting with the biggest stories here.
💊 Sanofi Ventures allocates €625M to invest in startups: Sanofi just reloaded its corporate VC arm with €625M, giving the CVC €1.4B under management to back biotech and digital health startups. At a time when many VCs are cautious, Sanofi Ventures says it’s ready to lead rounds.
🤝 Ventech closed its sixth flagship fund at €175M: the new fund, Ventech’s largest to date, has 50% of capital earmarked for vertical AI with the rest targeting digital health, industrial software, cybersecurity, and sovereignty—signaling where one of Europe’s most experienced VCs thinks the next big wins will come from.
💶 C4 Ventures launches €100M fund: Pascal Cagni’s VC firm announced its third fund, targeting AI and deeptech startups across Europe with €3–5M Series A checks. Half the focus is on semiconductors, quantum computing, and infrastructure, while the rest goes to robotics, autonomous systems, and enterprise AI software—making it a bellwether of where European deeptech money is flowing.
🤑 EIF anchors Jolt Capital V with €260M: Backed by the European Tech Champions Initiative, the Paris-based growth-stage deeptech fund is targeting a total of €1B for the fund to scale late-stage European startups in AI, semiconductors, cybersecurity, industry 4.0, and sustainability. For founders, this means more late-stage firepower in Europe, which has historically been the hardest money to raise.
🌍 Cohere Expands to Paris: Canadian AI company Cohere closed opened a $100M extension round and opened a new hub in Paris as its European/MENA HQ, starting with 40 employees and plans to double within a year. The move heightens competition in France’s AI market and emphasizes “sovereign AI” for enterprises, with Cohere’s CEO previously telling Sifted “we’re happy to pay extremely high salaries.”
Smaller, but still important news:
💘 French dating app Happn acquired by China’s Hello Group (Global Dating Insights)
🏢 Startup studio Hexa named Matthieu Gombeaud as their first CEO (Consultor)
🎵 30% of new songs on Deezer are AI. The streaming service has now introduced new AI detection and tagging tools and excluded fully AI tracks from users’ recommendations to protect human artists. (mixmag)
🏥 Synapse Medicine launched “MedGPT”, an AI medical assistant they claim outperforms ChatGPT on medical exams. (Synapse Medicine)
🧑💼 Former Ledger CEO Éric Larchevêque teased his return to company building with a statement that he is preparing to launch “the biggest project of his life.” (Maddyness)
🤝 Meta & Hugging Face renewed their Station F program alongside SNCF Connect and will support 5 new AI startups (Meta)
🏛️ The EU moved to bar American Big Tech companies from the new FiDA financial data sharing system. Brussels is set to exclude Apple/Google/Meta/Amazon which would reshape fintech rails in Europe and tilt the playing field toward EU players. (FT)
💶 The French wealth-tax battle continues to escalate with PM Sébastien Lecornu signaling rejection of the proposed “Zucman tax.” Final budget details are expected to land in early October. (France 24)
⏳ Late-payment risk ticks up: Altares data cited in Le Monde showed B2B payment delays worsening in H1’25 (14.1 days avg vs. 13.5 days in 2024) stressing SME cash flows. Less than 50% of companies in France paid their suppliers on time last year (Le Monde)
🌍 Headlines from around the world
🖊️ US TikTok sale receives presidential approval at a (surprisingly low) price of $14 billion (Reuters)
✈️ Business travel startup Navan files for IPO, the latest in the IPO bounce that’s seen public listing volume rise 56% y/oY (CNBC)
🛒 Amazon will close its 19 physical grocery stores in the UK and double down on e-comm approach (BBC)
📱From #2 in the app store to totally offline, call-recording app Neon goes dark following TechCrunch security leak findings (TechCrunch)
✂️ Microsoft cut cloud services to Israeli military unit over Palestinian surveillance (NYT)
🤖 Claude creator Anthropic to triple international workforce in global AI push (CNBC)
🔨 OpenAI, Oracle, and SoftBank expand Stargate with five new AI data center sites (OpenAI)
🤯 Nvidia to invest up to $100 billion in OpenAI (Reuters)
☪️ Malaysian government partners with Zetrix AI Berhad to collaborate on establishing the global framework for Shariah compliance, certification and governance in artificial intelligence (TechNode Global)
New Funding 💶
20 companies announced €260M in new funding last week

All In Box | €1M | 📈 MarTech
Metz-based All in Box raised €1M to scale its French SaaS platform that centralizes marketing tools for brick-and-mortar retailers. Founded in 2018, the startup blends AI and marketing to empower physical stores with capabilities rivaling digital giants.
Enakl | €1.2M | 🚌 Urban Mobility
Enakl, which operates in Morocco but has roots in France, raised €1.2M ($1.4M) in a pre-seed round backed by Catalyst Fund, Renew Capital, Digital Africa, and Station F to scale its AI-powered shared transit platform. With 15,000+ monthly bookings in Casablanca and 20% MoM growth, Enakl partners with companies and local operators to cut emissions, ease commutes, and expand affordable mobility across African cities.
PikkoPay | €1.5M | 🛒 Fintech
PikkoPay, a fintech startup offering faster payment solutions for retailers, raised €1.5M to expand its cashierless checkout solution. Shoppers scan a QR code to pay via phone and exit through a fast lane—no app required. Already in 30+ stores, the company aims for national rollout by 2027. This was one of the first pre-seed startups I connected with after I arrived in France, so it’s very cool to see them reaching this next stage! Congrats to the PikkoPay team.
2501.AI | €2M | 🤖 DevOps
2501.AI raised €2M in a pre-seed round backed by Galion.exe, KFund, Kima Ventures, and Bpifrance to build autonomous AI agents that handle IT incidents. Aimed at SRE, DevOps, and SysOps teams, the platform cuts repair times and costs by automating level 1 and 2 support while plugging into existing tools.
Seaturns | €2.45M | 🌊 Energy
French startup Seaturns raised €2.45M from 1,543 investors on the Keenvest crowdfunding platform to industrialize and deploy its wave energy converter. The system uses a floating cylinder with a pendulum to turn wave motion into air pressure, driving turbines to generate stable, clean power with low environmental impact.
Gigi | €2.5M | 👥 Social Networking
Paris-based Gigi raised €2.5M ($3M) from Khosla Ventures, an extension of its $5M seed with Sequoia, OpenAI, DST, and Monashees. Founded by Clara Gold, the buzzy startup is building an AI-powered alternative to LinkedIn that recommends relevant professional connections by analyzing calendars, social graphs, and online signals. With 150k users on its latest version, Gigi is relocating its HQ to San Francisco to focus on US growth.
Abby | €3M | 💳 Fintech
Abby, a Nancy-based fintech startup, raised €3M to expand its management platform for freelancers, with a focus on offering free electronic invoicing (e-invoicing), which is set to become mandatory next year. Already approved with PDP status by the State for e-invoicing flows, Abby aims to grow from 100,000 to 300,000 users next year.
Elmut | €3M | 🐾 Petfood
Elmut, a Paris-based pet food startup, raised €3M from private investors including The Moon Venture to expand its range of fresh, human-grade meals for cats and dogs. The funds will go toward new products, scientific R&D, and team growth. Elmut tripled revenue in 2024 and has served over 60,000 pets.
Sonomind | €3M | 👨⚕️ Medtech
Sonomind, a Paris-based medtech startup, raised €3M (€2M equity from Critical Path Ventures and €1M grant via France 2030) to develop its ultrasound-based neuromodulation device. The non-invasive tech targets deep brain areas for treating drug-resistant depression, with clinical trials set to begin soon.
Chat3D | €3M | 🤖 AI
Chat3D, a Lyon-based startup simplifying 3D creation with AI, has raised €3M from Mesh Ventures, Campus Fund, Bpifrance, and angels. Its tool turns text, images, or sketches into ready-to-use 3D models for games, design, and industry. A freemium public version is expected in October alongside international expansion.
Akacia | €3.5M | ⚡ Energy
Akacia, based in Hauteville-lès-Dijon, raised €8M total (€3.5M equity from Elevation Capital Partners and €4.5M in structured debt) to support its SME-based growth strategy in energy and network maintenance. The company targets €100M in revenue by 2029 through acquisitions and team expansion.
Kikleo | €3.5M | 🍽️ Foodtech
Kikleo, a Paris-based startup fighting food waste in restaurants, raised €3.5M in a round led by Newfund. Its AI tool measures waste directly in kitchens and dining areas, generating actionable insights. Already deployed in 250 sites, Kikleo plans to expand across Europe and the U.S.
Igonogo | €4M | 📈 MarTech
Igonogo, a Grenoble-based marketing tech startup, raised €4M in Series A funding from French family offices. It offers emotion-detection software combining behavioral science and online surveys, used by clients like L’Oréal, Renault, and France TV. The funds will support international growth and R&D.
Rippletide | €4M | 🤖 AI
Rippletide, a Paris-and San Francisco-based startup, raised €4M in seed funding led by OneRagtime to scale its enterprise AI agents with <1% hallucinations and fully explainable decisions. The funds will support U.S. expansion, hiring, and commercial rollout.
Vocca | €4.7M | 🏥 Healthtech
Vocca, a Paris-based startup building an AI-powered virtual receptionist for healthcare, raised €4.7M from Speedinvest, Firstminute Capital, Kima Ventures, and angels from Alan, Deel, and Datadog. Its voice assistant handles 80% of calls without human input, using open-source models fine-tuned for medical vocab. Already used by 2,000+ doctors, Vocca aims to scale to 10,000 practitioners by 2026 and quadruple revenue to €5M.
Futurail | €7.5M | 🚆 Mobility
Futurail, a Franco-German startup based in Strasbourg and Munich, raised €7.5M in support of its autonomous train system for depot operations. The tech retrofits existing or new trains and aims to tackle the train driver shortage. Backers include Asterion Ventures and Leap435, with public support via France 2030.
StemInov | €10.6M | 🧬 Biotech
StemInov, based in Illkirch-Graffenstaden, raised €10.6M to fund a GMP facility and a Phase I/IIa trial for WhartSep®, its stem cell therapy targeting severe pneumonia complications. Backers include Bpifrance, Finovam, and several angel networks.
Goodvest | €12M | 💰 Fintech
Goodvest, a Paris-based fintech offering climate-aligned savings products, raised €12M in a Series B led by Serena. The funds will support team growth and expand its private wealth management offerings. Goodvest currently manages €200M in assets and targets €1B AUM by 2027.
Lithium de France | €40M | 🌍 Energy
Lithium de France, based in Alsace and backed by Arverne Group, has raised €40M in a Series B2 round to enter pre-industrial phase testing to confirm whether it can pull lithium, a key material in EV batteries, out of hot underground water sources in Alsace. If their Direct Lithium Extraction tech works at scale, France gets a local, low-carbon source of lithium instead of relying on imports from other countries like Chile or China.
Nxtfood | €49M | 🌱 FoodTech
Nxtfood, based in Vitry-en-Artois, has raised €49 million to triple the size of its plant-based meat plant and expand in Europe. Its ACCRO brand offers plant-based meat made from local wheat and pea protein and is now sold in major retailers and over 10,000 restaurants. As part of the funding, Creadev became the majority shareholder and was joined by new investors Clay Capital and IRD Invest.
Waat | €100M | 🔋 Electric Vehicles
Waat, a Paris-based startup specializing in EV charging infrastructure for private environments, has raised €100 million in a round led by Deutsche Bank’s DWS and Bpifrance, with early investor Raise Impact staying on board. Founded in 2018 and part of the French Tech 120, Waat installs charging stations in condominiums, social housing, and commercial real estate. The company plans to scale across Europe (UK, Benelux, Switzerland, Poland), aiming for 250,000 active terminals by 2030 and developing its MyWaat app into an AI-powered energy coach.
Upcoming Events 🗓
Apéro Parisien SEO & IA 🍷 – October 1
Soirée Women in Tech – October 2
[Webinar] Understanding Non-Dilutive Financing: Issues and Strategies for Your Startup – October 9
Exploring Cybersecurity in Web3 with Ledger x 42Blockchain – October 10
Serena Run Club #10 - Run for Gender Diversity at work – October 13
MCP Connect with Alpic, Alan & Mistral – October 14
Levées de fonds pour les startups AI-natives : les conseils des VCs – October 14
Unlock VC Summit 2025 – October 14-15
SISTAFUND x FUND F x AUXXO breakfast 🥐 – October 15
Paris Meetup: Automations for Freelancers and Solopreneurs – October 16
Devfest Nantes 2025 – October 16-17
Microbiology 2.0 – October 30
The European AI Championship 2025 Launch Party – November 5
Interesting Jobs 👩💻
What Else I’m Reading 📚
AI investors are in for a rude awakening (The Guardian)
Michael Moritz blasts Trump’s $100,000 fee for H-1B talent visas (TechCrunch)
I somehow stumbled across this website, Memories of the Serene Land, which is essentially a personal scrapbook of photos and anecdotes from the lives of European nobility from 1978-1999 complete with chateaus, balls, and helicopter rides. Fun browsing!
And a quote that made me laugh:
“I write a lot about all the complex and sophisticated ways people have found to make money with other people’s money, and Tether is just like ‘why don’t you give us all the money and we’ll collect all the interest’ and it works”. – Matt Levine
TechpressoWhy 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: LongformWhy you’ll like it: Practical insights from building two unicorn companies, covering product, growth, prioritization, and much more. |
Quiz Answer: D.) 9%
According to data from Carta this increase is 3X the % seen for other types of roles, and the salary increase alone doesn’t show the full picture. Equity offers for AI engineers have risen even further with a 26% increase over the same time period.