Hi everyone,

Apologies for missing last week’s newsletter, but we’re catching up now with a round-up of the biggest news you shouldn't miss! 🚀

This edition features major fund announcements from Omnes and Eurazeo, highlights from the Raise Summit in Paris, and a wave of strategic moves and impressive funding rounds across the French tech scene. As summer holidays approach, the pace of fundraising news is beginning to slow.

Let’s dive in!

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Startup funding news 💸

Rounds of +€15M:

• Arago has raised $26 million to develop energy-efficient AI infrastructure, positioning itself as a European alternative to Nvidia. Its technology aims to drastically reduce the energy consumption of AI model training and inference, addressing both environmental and economic challenges.

• Stellaria has raised €23 million to develop its next-generation compact nuclear reactor aimed at decarbonizing heavy industry and supporting energy sovereignty. The funding will accelerate R&D and prototype development, positioning Stellaria as a key player in Europe's emerging small modular reactor (SMR) market.

• Fintech Spiko has raised €18.5 million to optimize corporate treasury management by enabling real-time payments and liquidity automation. The French fintech aims to transform how businesses handle cash flow, with backing from high-profile investors including Revolut's CEO and Pennylane’s founders.

Rounds €1M to €5M:

• Tandem has raised €3.2 million to transform SaaS software into autonomous agents that perform actions for users rather than just guiding them. Backed by Tribe Capital and other U.S. investors, Tandem plans to expand into San Francisco and scale its AI-powered in-app assistant, which has already boosted user adoption and reduced support costs for clients like Qonto and Aircall.

• Massive Dynamic has raised €3 million in pre-seed funding to develop AI-powered marketing agents that automate digital campaign management. Backed by Seedcamp and other top investors, the company aims to replace manual ad operations with a scalable “agentic” infrastructure, targeting large advertisers managing multimarket budgets.

• Solence has raised €1.6 million to expand its digital therapy for polycystic ovary syndrome (PCOS), a condition affecting one in ten women. The funding will support clinical validation and international rollout of its personalized, app-based treatment solution.

M&A transactions 🎊

Shipping giant CMA CGM is in exclusive talks to acquire Brut, the social video media brand known for its strong presence on TikTok, Instagram, and YouTube. This move bolsters CMA CGM’s growing media empire (already including La Provence, BFM, and RMC) as it seeks to build a powerful private soft power platform targeting younger, global audiences.

French foodtech startup Zenchef has merged with Spanish rival CoverManager to create a European leader in restaurant management solutions. The combined entity will serve over 15,000 restaurants across 40 countries, aiming to compete with global giants like OpenTable and TheFork.

The French government has approved the acquisition of Stilla Technologies by U.S.-based Bio-Rad, enabling the biotech firm to scale its advanced genetic analysis technologies globally. While the deal raised sovereignty concerns, it’s viewed as a strategic opportunity for international growth and innovation.

The Lyon-based studio behind the mobile strategy game Million Lords has secured funding from U.S. investment firm Griffin Gaming Partners. This backing will help the studio scale its operations, expand internationally, and enhance its game development capabilities.

Investor & accelerator news 🚀

Eurazeo has raised €650 million to invest in data- and AI-driven startups generating over €10 million in annual revenue, targeting scaleups ready for international growth. This new fund reflects a strategic shift toward profitable tech companies with strong market traction in sectors like fintech, healthtech, and climate tech.

Omnes has completed a first closing of €112 million for its second deeptech fund, aiming to support early-stage startups in sectors like quantum, space, and green energy. The fund targets a total of €200 million and underscores France's growing commitment to frontier tech innovation.

Otium Studio, backed by billionaire Pierre-Edouard Stérin, plans to invest €180 million by 2030 to launch 10 startups per year, focusing on fast-growing, low-R&D projects with quick paths to profitability. With ambitions already reaching the U.S., the studio offers salaried support and operational resources to entrepreneurs, aiming to industrialize B2C venture creation across Europe and beyond.

Startup news 💡

The 2025 Raise Summit gathered over 250 speakers in Paris to showcase the French AI ecosystem’s global ambitions, uniting startups, investors, and policymakers. The event highlighted France’s strategic push to become a major hub for responsible and competitive AI innovation on the international stage.

Mistral AI has launched new AI models focused on audio processing, aiming to compete with global leaders in speech recognition and synthesis. These models target applications in voice assistants, transcription, and media, reinforcing Mistral's ambition to build a European AI powerhouse.

CorWave has successfully implanted its innovative heart pump in a patient for the first time, marking a major milestone in cardiovascular medical technology. This breakthrough validates years of R&D and positions the French medtech company as a promising player in the global heart failure treatment market.

Biotech startup Byorna aims to democratize access to messenger RNA (mRNA) by developing more affordable and scalable production methods. The company is targeting applications beyond vaccines, including personalized medicine and rare disease treatments.

Big company & policy news 💡

Real estate network IAD has surpassed €500 million in annual revenue, marking a strong rebound driven by international expansion and digital strategy. With over 20% growth and operations in 9 countries, iad aims to solidify its position as a global leader in online real estate services.

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