🧮 Data Point: French RetailTech
France Digitale and FDJ UNITED Ventures released a first-of-its-kind mapping of French retail tech, spotlighting nearly 400 startups reshaping commerce from physical stores to e-commerce. The report coincided with the Tech for Retail conference, and, of course, BLACK FRIDAY and CYBER MONDAY.
France's retail startups may span the nation, but more than 60% are based in the Île-de-France region. A few more fun facts:
- The 400 retail startups generated more than €1B in revenue in 2024, and 40% are already profitable.
- Business models skew heavily B2B, dominated by subscription and SaaS plays, and scaled largely through big corporate clients who act as rollout engines across stores and online channels.
- More than €7B has been raised and a talent flywheel that has created tens of thousands of jobs.
The big trends:
- AI is now shifting from assistive tools to agentic systems and is becoming the operating system of retail, embedded everywhere from demand forecasting to in-store execution.
- The next battlegrounds will be generative search (GEO), AI shopping agents that co-decide purchases, and social/live commerce that collapses discovery and checkout into one flow.
- Growing challenges include international expansion and winning contracts with large corporations.
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🕵️ Pennylane €200M Round Rumor
British Tech Funding News reports that fintech unicorn Pennylane is close to stuffing another €200M in its piggy bank. The site doesn't cite any sources for its report, but Dealroom has already added the round to its fundraising tallies for France. We reached out to CEO Arthur Waller for confirmation, but absent any official word, we're not including the round in this week's funding-palooza. In the meantime, here's our chit-chat with Waller from earlier this year:
Chris O’Brien
Part of the massive federation of tech events Future of Software Technologies, the Voice AI Space Conference will gather 300 founders, builders, researchers, and product leaders on the 10th December 2025 in Paris (CNIT – La Défense) to explore the future of voice interfaces and multimodal intelligence. Use the code VOICEAISPACE to get a free ticket Voice AI and all the FOST events.
💸 Weekly Funding Recap: November 21
🏆 Key Highlights
Total Raised: €130.97M
Number of Companies: 15
🧬 Sector Diversity
🚗 Mobility & Smart Cities: €2.30M
💻 AI & Software: €1.70M
⚙️ Deeptech & Industrial Innovation: €101.80M
🧠 Medtech & Health Intelligence: €25.17M
🔥🔥🔥🔥
📇 Company: Zadient Technologies
🔍 Description: French deeptech developing an ultra–high-purity, low-cost silicon carbide (SiC) production process to supply the European semiconductor industry with strategic SiC materials used in EVs, renewables, aerospace, and high-performance electronics.
💻 Website: Zadient Technologies
📍 HQ City: Chambéry
🧗 Round: Series A
💰 Amount Raised: €35M
🏦 Investors: Crédit Mutuel Impact – Fonds Révolution Environnementale et Solidaire (lead), European Innovation Council Fund (EIC Fund), existing shareholders
👨💼👩💼 Founders: Kagan Ceran (President & Founder)
🗞️ News: Zadient Technologies raises €35M Series A to scale European production of silicon carbide (SiC), a critical material for electric vehicles, renewable energy, and next-gen power electronics. Funds will support the reconversion of a Bitterfeld (Germany) facility targeting 350 tons/year SiC powder output by 2026, implementation of a proprietary gas-recycling system, and expansion of R&D into crystal growth and wafer production. The company also targets emerging applications such as augmented-reality optics and AI chips, positioning itself as a future sovereign supplier for European energy, industrial and defense sectors. | EIC
📇 Company: AFYREN
🔍 Description: French greentech / green chemistry company producing biobased, low-carbon organic acids from agricultural co-products using a proprietary circular fermentation process, as a sustainable alternative to petro-based ingredients.
💻 Website: Afyren
📍 HQ City: Lyon
🧗 Round: Capital increase/Euronext Growth Paris
💰 Amount Raised: €23M (equity)
🏦 Investors: Kemin Industries (€20M), Bpifrance Large Venture (€3M)
👨💼👩💼 Founders: Nicolas Sordet (CEO & Founder), Jérémy Pessiot (MD, CTO & Founder)
🗞️ News: Listed greentech AFYREN raises €23M via a capital increase fully subscribed by Kemin Industries and Bpifrance Large Venture to fund the optimisation and expansion of its AFYREN NEOXY biorefinery in Carling Saint-Avold—lifting nameplate capacity to ~20kt (+20% vs initial plan) and strengthening its position as a European reference supplier of biosourced organic acids. | Bbifrance
📇 Company: Lexip (formerly Pixminds)
🔍 Description: Gaming hardware and technology company developing patented accessories and immersive experiences, partnering with major publishers and brands such as Ubisoft, Electronic Arts, and Seagate Technology.
💻 Website: Lexip
📍 HQ City: Barberaz
🧗 Round: Strategic Funding
💰 Amount Raised: €19.4M
🏦 Investors: Strategic partners from the Technology, Finance, and Publishing industries (names not disclosed)
👨💼👩💼 Founders: Lionel Chataignier (Founder & CEO)
🗞️ News: Pixminds rebrands as Lexip and secures €19.4M to accelerate growth in the gaming hardware market. The funding will support the development of patented gaming accessories and hybrid hardware/software ecosystems, strengthening collaborations with top industry partners. The rebrand marks a major strategic step as Lexip aims to scale across EMEA and the US and expand its value-generating ecosystems in a $200B global gaming market. | PR, Infonet
📇 Company: Water Horizon
🔍 Description: Cleantech company developing “Cooling-as-a-Service” systems that transform local waste heat into low-carbon cooling for industrial and tertiary sectors, replacing electricity-intensive cooling systems.
💻 Website: Water Horizon
📍 HQ City: Toulouse
🧗 Round: Growth
💰 Amount Raised: €18M
🏦 Investors: Banque des Territoires (France 2030), Delmas Investissement et Participation (DIP), Groupe EREN
👨💼👩💼 Founders: Jean-Emmanuel Faure (Founder & CEO)
🗞️ News: Water Horizon raises €18M to accelerate the deployment of its waste-heat-to-cooling technology and expand internationally. The round deepens synergies with Africa Power Services (DIP’s subsidiary) and brings in Groupe EREN as a strategic investor to support global scaling. | PR
📇 Company: Damae Medical
🔍 Description: French MedTech pioneer developing non-invasive 3D digital biopsies and real-time AI diagnostic tools for dermatology, enabling faster, more precise detection and treatment planning for skin cancers.
💻 Website: Damae Medical
📍 HQ City: Paris
🧗 Round: Series B
💰 Amount Raised: €15M
🏦 Investors: Creadev (lead), Kurma Partners, ISPB, BNP Paribas Développement
👨💼👩💼 Founders: Anaïs Barut (CEO & cofounder), Prof. Arnaud Dubois (scientific cofounder), David Siret
🗞️ News: Damae Medical raises €15M Series B to accelerate the global scale-up of deepLive™, its CE-marked and FDA-cleared 3D digital biopsy device powered by LC-OCT imaging and real-time AI. The funding will support commercial expansion in Europe, the U.S., and Australia, strengthen industrial production in France, and broaden the AI portfolio beyond basal cell carcinoma (97% diagnostic accuracy) to melanomas, actinic keratoses, squamous cell carcinomas, and inflammatory diseases. Already installed in 100+ centers across 15+ countries, deepLive™ is increasingly integrated into clinical workflows and reimbursement pathways as a new standard for non-invasive dermatological diagnosis.
📇 Company: VESTO
🔍 Description: Industrial-scale reconditioning platform for professional equipment (hospitality, medical, commercial refrigeration, construction), enabling large-scale reuse through standardized testing, repair, and refurbishment processes.
💻 Website: Vesto
📍 HQ City: Paris
🧗 Round: Equity round
💰 Amount Raised: €6.4M
🏦 Investors: Citizen Capital (lead), Banque des Territoires (renewed participation), INCO Ventures (via Abeille Impact Investing France & INCO Investissement
👨💼👩💼 Founders: Anne-Laurène Harmel, Wilfrid Dumas, Bastien Rambaud (CEO)
🗞️ News: VESTO raises €6.4M to industrialize the reuse of professional equipment and expand beyond its core hospitality market into new verticals, including medical devices, commercial refrigeration, and construction. The company aims to scale its circular-economy impact, reduce waste and CO₂ emissions, and create inclusive employment across France. | PR
📇 Company: Alkion BioInnovations
🔍 Description: Biotech company developing a sustainable, plant-based bioproduction platform for high-value active ingredients and next-generation vaccine adjuvants—particularly QS-21—using large temporary-immersion bioreactors and advanced purification technologies.
💻 Website: Alkion
📍 HQ City: Versailles
🧗 Round: Seed
💰 Amount Raised: €4.4M
🏦 Investors: GO Capital (lead), Critical Path Ventures
👨💼👩💼 Founders / Leadership: Sarah-Meryll Buet (CEO)
🗞️ News: Alkion BioInnovations raises €4.4M to industrialize GMP-grade production of QS-21—an essential vaccine adjuvant currently constrained by limited and unsustainable supply—and to scale its proprietary plant-biomass platform. The round supports bioreactor scale-up, extraction and purification innovation, and collaborative programs designing improved saponin-based adjuvants for next-generation prophylactic and therapeutic vaccines, including mRNA vaccines. | LinkedIn
📇 Company: Ventuno Biotech
🔍 Description: French biotech developing next-generation immunotherapies designed to stimulate antitumor immune responses and address cancers resistant to current treatments.
💻 Website: Ventuno Biotech
📍 HQ City: Lyon
🧗 Round: Seed
💰 Amount Raised: €3M (including €2M equity + €1M loans)
🏦 Investors: Octalfa (lead), Relyens Innovation Santé (via Turenne Santé), Gilles Alberici, Armand Bensussan; bank partners include Caisse d’Epargne Rhône Alpes and BNP Paribas Innovation
👨💼👩💼 Founders: Jeremy Bastid (CEO), Nathalie Bonnefoy (IRCM Director), Octalfa
🗞️ News: Ventuno Biotech secures a €3M seed round to accelerate the development of its preclinical portfolio of first-in-class cancer immunotherapies. The company, incubated for two years at Octalfa and supported by major public-private partners, will use the funding to advance discovery programs in immuno-oncology, strengthen translational research, and build the foundations for future preclinical submissions. Based in Lyon with research labs at the IRCM in Montpellier, the startup aims to transform treatment approaches for hard-to-treat cancers by stimulating robust anti-tumor immune responses. | PR
📇 Company: Sim&Cure
🔍 Description: Medtech company developing AI-powered Digital Twin software for neurovascular treatment planning, enabling clinicians to simulate and optimize endovascular interventions for cerebral aneurysms using patient-specific models.
💻 Website: Sim&Cure
📍 HQ City: Montpellier
🧗 Round: Series Extension
💰 Amount Raised: €2.3M (€10M Total Series A)
🏦 Investors: Elaia (lead), IT Translation Investissement, IRDI Capital Investissement, SWEN Capital Partners, Sofilaro, Tudigo, Holnest
👨💼👩💼 Founders: Mathieu Sanchez (CEO & Co-founder), with the founding team established in 2014
🗞️ News: Sim&Cure secures a €10M Series extension to accelerate global expansion—notably in China and APAC—advance its Digital Twin product suite (Sim&Size™, Sim&Train, Sim&Predict), and reinforce R&D and commercial teams. With 35,000+ treatment planning procedures supported across 45+ countries and integrations with Siemens Healthineers and Philips, the company is strengthening its position as a leader in personalized neurovascular care. | PR
📇 Company: AURA AERO
🔍 Description: French aerospace manufacturer developing hybrid-electric and fully electric aircraft, including ERA, a 19-seat regional hybrid-electric aircraft with ~700 purchase intentions, and the INTEGRAL range of next-generation two-seater training aircraft.
💻 Website: Aura Aero
📍 HQ City: Cugnaux
🧗 Round: Strategic Investment
💰 Amount Raised: €2M
🏦 Investors: EDF Group (Électricité de France)
👨💼👩💼 Founders: Jérémy Caussade, Fabien Delahaye, Wilfried Dufaud
🗞️ News: EDF Group increases its stake in AURA AERO by €2M, reinforcing its long-term commitment to low-carbon aviation and supporting the industrialization of electric and hybrid aircraft. The investment strengthens collaboration on battery performance, charging infrastructure, and the integration of electric aviation needs into airports, while AURA AERO advances development of the ERA 19-seater hybrid-electric aircraft and the INTEGRAL E fully electric training aircraft. | Urban Air Mobility News
📇 Company: Komia
🔍 Description: AI-powered restaurant operations platform helping small and mid-sized foodservice chains manage staffing, inventory, deliveries, and daily operations in real time—bringing enterprise-grade tools (used by giants like McDonald’s) to independent and regional restaurant networks.
💻 Website: Komia
📍 HQ City: Lyon
🧗 Round: Seed
💰 Amount Raised: €1.2M (including €400k in loans)
🏦 Investors: PMS Group, DMG Promotion (family office of Aurélien Tchouameni), Malick Diouf, JK Invest (Jules Koundé), Vanessa Shi (Dayoshi / Chikin Bang / Yatai Ramen), Bpifrance, Réseau Entreprendre Rhône, various CHR-sector business angels
👨💼👩💼 Founders: Micael Manuel Joao (CEO), Bastien Renart
🗞️ News: Komia raises €1.2M to scale its all-in-one restaurant management app, already used by 400+ establishments and 3,000+ daily users across France. The funding will accelerate national expansion, bolster tech and commercial teams, and deepen the platform’s predictive AI for sales forecasting, inventory, and staff scheduling. Born from two years of in-restaurant testing with franchise partner NBK La Naanerie, Komia is now targeting rapid deployment across France’s 11,000 franchise restaurants—before expanding further into Europe, where the company already supports early clients in Spain and Belgium. | Les Echos
📇 Company: AberActives
🔍 Description: Biotech developing a world-first enzymatic hydrolysis biorefining technology to extract high-value active ingredients from macroalgae for cosmetic and nutraceutical applications. The process reduces energy use, increases reproducibility, and unlocks new algosourced bioactive molecules.
💻 Website: AberActives
📍 HQ City: Roscoff, Finistère
🧗 Round: Seed
💰 Amount Raised: €1M
🏦 Investors: Finistère Angels, Armor Angels, individual angel investors
👨💼👩💼 Founders: Bernard Kloareg, Robert Larocque, Gurvan Michel
🗞️ News: AberActives raises €1M to scale its enzymatic algal biorefinery platform, strengthen its production, R&D, and commercial teams, and accelerate its entry into global cosmetic and nutraceutical markets. The startup—spun out of CNRS’s Station Biologique de Roscoff—has won multiple innovation awards and is emerging as a key player in the Brittany algae ecosystem. | LinkedIn
📇 Company: Drive Innov
🔍 Description: French mission-driven mobility training company reinventing driver education, road-risk prevention, and eco-driving through inclusive pedagogy, micro-learning, simulators, and digital tools—targeting both individuals and organisations to make mobility safer, greener, and universally accessible.
💻 Website: Drive Innov
📍 HQ City: Auvergne–Rhône-Alpes
🧗 Round: Seed
💰 Amount Raised: €1M
🏦 Investors: Macif Impact ESS (equity), Sienna Investment Managers (obligations)
👨💼👩💼 Founders: Yohann Berthe (CEO & founder)
🗞️ News: Drive Innov secures €1M from Macif Impact ESS and Sienna Investment Managers to accelerate its national expansion and scale its inclusive mobility training model. Celebrating 10 years of impact, the company will use the funding to reinforce its pedagogical tools, expand eco-driving and road-risk prevention programmes, deploy in ten new regions, advance its digital learning technologies (immersive simulators, micro-learning, “intelligence éducative”), and double its social and environmental impact by 2026. The investment marks strong institutional recognition of Drive Innov’s mission to make mobility a universal, safe, and sustainable right.
📇 Company: VoilaChef
🔍 Description: Foodtech platform offering online pastry and bakery masterclasses taught by leading French chefs, providing structured, high-quality training for both professionals and passionate amateurs.
💻 Website: VoilaChef
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: €900K
🏦 Investors: Provence Angels, Femmes Business Angels, Bpifrance, BNP Paribas, Individual investors
👨💼👩💼 Founder: Sophie D. (Founder & CEO)
🗞️ News: VoilaChef raises €900K to strengthen its team, accelerate commercial expansion, and grow internationally. The platform already features 40 renowned chefs, 900 instructional videos, and has trained 3,000 learners across 30 countries—positioning it as a rising leader in online culinary education. | LinkedIn
📇 Company: AlgenScribe
🔍 Description: Gene-editing biotech developing a versatile, patented platform combining synergistic molecular biology tools to correct pathogenic DNA mutations—from base editing of a few nucleotides to large gene replacement involving thousands of base pairs.
💻 Website: AlgenScribe
📍 HQ City: Nice & Saclay
🧗 Round: Seed extension
💰 Amount Raised: €470K
🏦 Investors: Not disclosed
👨💼👩💼 Founders: Frédéric Zampatti (President & Co-founder) + team (others not specified)
🗞️ News: AlgenScribe raises €470K and signs its first collaboration agreement with a U.S. foundation to advance its platform’s applications in base editing and large-fragment gene replacement. The company has surpassed its technical milestone—achieving >10x improvement in gene replacement efficiency—validated with an academic partner. Upcoming steps include ex vivo transfers with the Imagine Institute and preparatory work for patient-derived and animal-model proof-of-concept studies, with a larger raise planned for late 2026/early 2027. | PR
📇 Company: IvySpec
🔍 Description: Robotics startup developing a “racinaire” drone designed to navigate and operate in confined or hard-to-access environments, enabling inspection and intervention in areas traditionally inaccessible to standard drones.
💻 Website: IvySpec
📍 HQ City: Nantes
🧗 Round: Seed
💰 Amount Raised: €300K
🏦 Investors: Pays de la Loire Participations, Business Angels
👨💼👩💼 Founders: Jean-Philippe Lerat
🗞️ News: IvySpec raises €300K to advance development of its confined-space drone and prepares a larger round for late 2026. The company also secured a contract with the French Defence Procurement Agency (Direction générale de l’armement — DGA), marking a strategic milestone in its expansion into defense-grade robotics. | Journal des Enterprises
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