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Startup funding news 💸

Rounds of $15M+:

• Flowdesk raises $52M in a Series B extension led by HV Capital, with Eurazeo, Cathay Ledger, and a $10M loan from BlackRock. Funds will boost liquidity services, expand operations, and strengthen its market position.

• Netforce secures €45M from GEM Global Yield to scale its non-lethal law enforcement technology, including the EstunGlove, and expand globally.

• Renaissance Fusion raises €32M to simplify stellarator fusion reactors. The round was led by Crédit Mutuel Impact, with participation from Lowercarbon Capital. The Grenoble-based startup will use the funds to build a demonstrator by 2026, aiming for a more efficient and cost-effective fusion power design.

Rounds €5M to €15M:

• Satisfy raises €11.3M in a Series B round to expand in the US and South Korea and strengthen partnerships in Europe and Japan. The funding, backed by Bpifrance, supports the French running brand’s international growth.

• Comet raises €10M to expand its freelancing platform for enterprises. The round includes Daphni, Otium, FJ Labs, Kima Ventures, Founders Future, TOMCAT, and business angels. Funds will support AI, cybersecurity, and service expansion.

• Osivax raises €10M to advance Phase 2b trials of its flu vaccine. The Lyon-based biotech has secured €35M since 2017, with Meiji Seika Pharma participating.

• Wealthcome raises €7M to digitalize wealth management. The round was led by BlackFin Capital Partners. Funds will support AI-powered features, team expansion, and European growth.

• Faks raises €5M to modernize pharmacy management. The round was led by Speedinvest, with Connect Ventures, Seedcamp, and FJ Labs. Funds will support AI integration and expansion into Spain and Italy.

Rounds €1M to €5M:

• Kleio raises €3M to enhance customer experience with AI. The round was led by Serena and Daphni, with industry experts participating. Funds will support product development and expansion into new sectors.

• Terratis raises €1.5M from Odyssée Ventures, Satt AxLR, and Galapagos Innovation to combat tiger mosquitoes. A €1M extension from Bpifrance is possible.

• Aquassay raises €1.4M from Aquiti Gestion and Banque des Territoires to expand its water management solutions and enhance R&D.

• Cherico raises €1M to expand its chicory-based coffee alternative. The round includes Augustin Paluel-Marmont (Michel et Augustin), Thibaut Hug de Larauze (BackMarket), and Gary Anssens (AllTricks).

M&A transactions 🎊

Appier acquires AdCreative.ai for $38.7M to enhance its AI-driven advertising solutions. This marks Appier’s fifth acquisition since 2018, strengthening its expansion in Europe.

Publicis acquires Lotame to strengthen its data-driven marketing. The deal boosts its database to nearly 4 billion profiles, enhancing personalized campaigns and expanding Epsilon globally.

Fedrigoni acquires a stake in Papkot to scale its plastic-free paper coating technology. Founded in 2020, the startup develops recyclable packaging coatings.

Investor & accelerator news 🚀

PSG launches PSG Labs, an accelerator for sportech startups. The first hub will open in Doha, focusing on AI, Web3, fan engagement, and performance. Startups will join a 3-month boot camp with club collaboration.

Bpifrance reports a 32% drop in industrial startup funding, totaling €2.83B in 2024. Only 38 new sites were inaugurated, down from 60 in 2023. Greentech and deeptech led investments, while other sectors struggled.

Sofinnova Partners raises €1.2B to fund 50-60 life sciences startups. The firm, managing over €4B, invests across biotech, medtech, and digital health. Investors include top institutions, sovereign funds, and corporates.

La Caisse des Dépôts launches the 3rd edition of TechSprint to develop an interoperable data space supporting the ecological transition. Backed by €100B mobilized between 2024 and 2028, the program supports Greentech startups and projects in water management, real estate, and logistics.

Opportunities & Deadlines 👀

• Techinnov 2025 on March 27, 2025, at Parc Floral de Paris, will feature 8,000 meetings and six key innovation themes.

Startup news 💡

Cure51 partners with AP-HP to access tumor and survivor data from five Paris hospitals. The startup uses DNA sequencing and big data to advance cancer treatments and personalized medicine.

Fleet partners with OpenAI to launch Fleet CoPilot, an AI-powered IT assistant for SMEs. The tool optimizes device management, security, and HR integration. Initially deployed to select clients, it will expand gradually.

Jolimoi reaches profitability with €20M revenue in 2024, growing 19%. The beauty social selling platform, which raised €7M in 2022, plans to expand AI capabilities and grow 20% in 2025.

French cleantech startups raised €2.4B in 2024, down from €3.5B in 2023. Electra (€304M), Valorem (€200M), and HysetCo (€200M) led major rounds. Despite a tough economy, energy and mobility remain top sectors for investment.

Big company & policy news 💡

L'AMIAD inaugurates its research center and partners with Mistral AI to strengthen France’s defense AI sovereignty. The €15M investment includes building a defense institute at École Polytechnique. The partnership focuses on AI research and industrialization for military applications.

At MWC 2025, Steve Wozniak criticized AI’s lack of transparency, the dominance of Big Tech, and the decline of Silicon Valley as the sole innovation hub. He called for AI regulation, warned against excessive VC funding for startups, and advocated for a return to engineer-led innovation.

Interesting reads 💡

Victor Cuxart and Stephanie Combe (Alma) explore debt financing for startups in high-interest environments. Their article breaks down borrowing options, risks, and best practices for managing debt effectively.

Lucas Bédout (Hyperline) criticizes recent changes to France’s ESOP (BSPCE) taxation. He explains how the new law imposes upfront taxes on stock options, making them riskier for employees and less attractive for startups to retain talent.

Yann Leonardi analyzes Decathlon’s bold rebranding strategy. Initially skeptical, he dives into how the sporting goods giant is shifting from a budget retailer image to a global brand powerhouse—comparing its ambitions to Tony Montana in Scarface.

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