🧮 Data Point: University Spinoffs
In Dealroom's European Spinouts Report 2025, France gets mixed marks for its effectiveness at leveraging the brainiacs at its universities to create game-changing startups.
👼 The good: France ranks fourth in Europe for deep-tech and life-sciences spinoff value created, with 830+ VC-backed university or public-lab spinouts now worth about $42.1B and having raised roughly $7.5B since 2020. The report credits a hard-science sweet spot—AI, quantum, semiconductors, new materials, biotech, and medical devices. French labs reliably turn research into venture-scale companies. A standout structural advantage is France’s tightly knit research–university machine, with CNRS, CEA, Inserm, Inria, Institut Pasteur, and Paris-Saclay/PSL-type schools repeatedly anchoring the pipeline.
Spinoff activity also isn’t just a Paris story: Grenoble, Lyon, Strasbourg, and other hubs register strong clusters, giving France a genuinely national map of academic entrepreneurship.
👿 The bad: Zoom out to efficiency, and the shine dulls. On spinoff value per capita and per STEM graduate, France posts a modest score around 14, far behind Switzerland and the Nordic leaders, so it converts scale into value less efficiently. The country also produces fewer monster outcomes so far, with only about five unicorns or $1B+ exits versus the UK’s 20 and Germany’s 14, hinting at a scale-up gap. Even with strong momentum, France’s total funding and enterprise value still trail the top two by a wide margin, suggesting later-stage capital depth and global breakout pathways aren’t yet fully there.
Net-net, Dealroom paints France as a prolific, research-powered spinoff engine that’s getting bigger fast, but still needs more efficient conversion and more headline-grabbing winners to match its scientific weight.
💸 Weekly Funding Recap: November 21
🏆 Key Highlights
Total Raised: €147.27M
Number of Companies: 17
🧬 Sector Diversity
- 🚗 Mobility & Smart Cities: €2.0M
- 💻 AI & Software: €32.0M
- ⚙️ Deeptech & Industrial Innovation: €65.0M
- 💳 Fintech / DeFi: €30.0M
- 🧠 Medtech & Health Intelligence: €17.2M
📇 Company: Deblock
🔍 Description: A crypto-banking platform combining everyday euro accounts with on-chain, self-custody crypto wallets—enabling users to hold, pay, invest, and access DeFi services while maintaining full control of their digital assets.
💻 Website: deblock.com
📍 HQ City: Paris
🧗 Round: Series A
💰 Amount Raised: €30M
🏦 Investors: Speedinvest (lead), CommerzVentures, Latitude, 20VC, Headline, Chalfen Ventures, Kraken Ventures
👨💼👩💼 Founders: Aaron Beck, Adriana Restrepo, Jean Meyer (CEO), Mario Eguiluz
🗞️ News: Deblock raises €30M to expand its on-chain banking solution across Europe, beginning with Germany. With 300,000 clients and the first euro current account integrated with a true self-custody crypto wallet, Deblock positions itself within a fast-growing European trend toward fintech–crypto convergence. | EU Startups
📇 Company: GetVocal
🔍 Description: Paris-based conversational AI startup developing hybrid human-supervised AI voice agents for enterprise customer service, built on a proprietary “protocol automation” system that encodes business rules with mathematical precision.
💻 Website: getvocal.ai
📍 HQ City: Paris
🧗 Round: Series A
💰 Amount Raised: $26M
🏦 Investors: Creandum (lead), Elaia, Speedinvest
👨💼👩💼 Founders: Roy Moussa (CEO), Antonin Bertin (CTO)
🗞️ News: GetVocal raises $26M Series A—its second round this year—as Voice AI heats up globally, aiming to scale its hybrid human+AI conversational agents, already deployed across 23 markets with customers including Vodafone, Movistar, and Glovo. The company’s architecture blends LLM capabilities with graph-based business protocols and real-time human supervision to deliver reliable enterprise automation and improve agent performance over time. | The French Tech Journal
📇 Company: HyPrSpace
🔍 Description: French DeepTech startup developing Orbital Baguette 1 (OB-1), a hybrid-propulsion microlauncher capable of placing 250 kg into orbit. The company combines liquid oxygen with a recyclable polyethylene-based solid fuel to deliver a simpler, safer, high-performance propulsion system.
💻 Website: HyPrSpace
📍 HQ City: Bordeaux
🧗 Round: Series A
💰 Amount Raised: €21M
🏦 Investors: Red River West, DeepTech 2030 (Bpifrance / France 2030), Expansion, NACO
👨💼👩💼 Founders: Alexandre Mangeot, Sylvain Bataillard, Vincent Rocher
🗞️ News: HyPrSpace raises €21M to finalize its hybrid engine, advance toward a first suborbital flight in 2026, and prepare industrial-scale production of its OB-1 microlauncher as Europe’s small-satellite launch segment accelerates. | Maddyness
📇 Company: NcodiN
🔍 Description: DeepTech startup developing photonic interposers with integrated proof-of-concept nanolasers to deliver ultra–high-bandwidth, energy-efficient interconnects for next-generation AI hardware and wafer-scale superchips.
💻 Website: ncodin.com
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: €16M
🏦 Investors: MIG Capital (lead, via MIF Fonds 17 & 18), Maverick Silicon, PhotonVentures, Verve Ventures, Elaia, Earlybird, OVNI
👨💼👩💼 Founders: Dr. Francesco Manegatti (CEO), Bruno Garbin, Fabrice Raineri
🗞️ News: NcodiN raises €16M to advance nanolaser-based photonic interposers enabling ultra-high memory bandwidth for future AI “mega-chips.” The round strengthens Europe’s momentum in foundational AI-hardware innovation, highlighting France’s emerging leadership in next-gen photonics. | EU Startups
📇 Company: Hummink
🔍 Description: Deeptech company developing ultra-precise nanometric printing technology that repairs microscopic defects in OLED displays and semiconductor manufacturing—reducing waste and boosting yield.
💻 Website: hummink.com
📍 HQ City: Paris
🧗 Round: Series A
💰 Amount Raised: €15M
🏦 Investors: French Tech Seed (France 2030), Cap Horn, KBC Focus Fund, Elaia, Sensinnovat, Beeyond, Bpifrance, European Innovation Council Fund
👨💼👩💼 Founders: Amin M’Barki, Pascal Boncenne
🗞️ News: Funding will advance development of Hummink’s industrial repair module and support integration into display and semiconductor fabrication lines. The company aims to expand globally, double its team by 2026, and scale production of its proprietary inks used for sub-micron electronic repair. | Les Echos, Tech Funding News
📇 Company: MaaT Pharma
🔍 Description: Clinical-stage biotech developing Microbiome Ecosystem Therapies™ to modulate the immune system and improve survival in cancer patients. A leader in microbiome-driven immunotherapy with late-stage assets including Xervyteg® (MaaT013).
💻 Website: maatpharma.com
📍 HQ City: Lyon
🧗 Round: Capital Increase (Public + Qualified Investors)
💰 Amount Raised: €9.1M
🏦 Investors: Qualified institutional investors, retail investors via PrimaryBid; major participating shareholders include Biocodex, Bpifrance Investissement (Fonds PSIM), and Invus Public Entities
👨💼👩💼 Founders: Hervé Affagard (CEO & Co-founder)
🗞️ News: MaaT Pharma completed a €9.1M capital increase through a combined private placement to qualified investors and a PrimaryBid retail offering. The raise strengthens the company’s balance sheet ahead of major regulatory and commercial milestones. Net proceeds of €8.7M will support preparations for the potential commercialization of Xervyteg® in Europe (decision expected mid-2026), ongoing clinical development of MaaT033 in a pivotal Phase 2b trial, and continued FDA engagement for a pivotal U.S. study planned for 2026. The financing also enables MaaT Pharma to access the next €6M tranche of its €37.5M European Investment Bank facility, extending its cash runway to August 2026—beyond the anticipated European marketing authorization for Xervyteg®. A milestone payment of €12M tied to this approval could further extend runway to early 2027. | PR
📇 Company: Leanspace
🔍 Description: European provider of software-defined satellite and ground-segment operations technology, offering a modular platform for monitoring & control, mission planning, ground-segment orchestration, and testing. Trusted by 20+ spacecraft operators and major agencies across Europe, the US, and Asia.
💻 Website: Leanspace
📍 HQ City: Strasbourg
🧗 Round: Series A
💰 Amount Raised: €10M (+ additional non-dilutive funding from Caisse d’Epargne & Bpifrance via France 2030)
🏦 Investors: ISAI Cap Venture, Capgemini Ventures, Qwaltec; existing investors 42CAP, Karista, Arnaud Guérin
👨💼👩💼 Founders: Guillaume Tanier (CEO), Alvaro Alonso Ruiz (CCO)
🗞️ News: Founded in 2020, Leanspace has grown from supporting small-satellite missions to securing contracts with major space agencies and primes, including Airbus Defence & Space, Hispasat, and the European Space Agency. Its platform now serves six segments: small satellites, in-orbit servicing, constellations, launchers and spaceports, large satellites, and ground-station networks. With this round, the company will expand deeper into high-complexity, security-critical missions. Strategic partners will use the Leanspace platform to deliver turnkey mission operations systems and offer managed services, operations engineering, and compliance support in Europe and the US. The company continues to build a global ecosystem, inviting satellite manufacturers, cloud providers, SSA players, GSaaS operators, and software integrators to join its software-defined space infrastructure vision. | Space News
📇 Company: AI-Stroke
🔍 Description: MedTech startup developing an “AI neurologist” that enables paramedics and triage nurses to detect stroke signs within seconds using a 30-second smartphone/tablet video—accelerating pre-CT triage and improving outcomes.
💻 Website: www.ai-stroke.com
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: $4.6M
🏦 Investors: Heka (BrainTech vehicle of Newfund VC), Bpifrance, prominent angel investors
👨💼👩💼 Founders: Cédric Javault (CEO), Simon Jiafeng Li (CBO), Fabien ORSAT (CTO)
🗞️ News: Funding will support FDA pathway and multi-site U.S. clinical studies. AI-Stroke also added four world-renowned stroke experts to its Medical Advisory Board, including leaders from Stanford, Oxford, UTHealth Houston, and Westchester Medical Center. | PR
📇 Company: Aive
🔍 Description: Paris-based AI platform that automates large-scale video post-production by generating channel-, format-, and audience-optimized variants from a single source asset. Its proprietary orchestration engine analyzes visuals, audio, emotions, and rhythm to produce consistent, brand-safe variations for social platforms, TV, and digital networks.
💻 Website: Aive
📍 HQ City: Paris
🧗 Round: Series A extension
💰 Amount Raised: €4.5M (€16.5M total Series A)
🏦 Investors: N/A
👨💼👩💼 Founders: Olivier Reynaud (CEO), Rudy Lellouche (Co-founder & CPTO)
🗞️ News: Aive has expanded its initial €12M round to €16.5M, reflecting strong investor demand for AI solutions in marketing and video production. Founded in 2019, the company has spent four years and €10M in cumulative R&D to build a proprietary AI engine that reads and interprets the signals of original videos—imagery, sound, emotion, pacing—to generate optimized variants for every media environment automatically. Already adopted by around 50 major clients, Aive’s solution drastically accelerates post-production cycles, enabling campaigns to be adapted in hours instead of days, while ensuring brand coherence and controlled cost-performance. Its technology integrates directly into client environments without intrusive data capture, and adheres to strict governance commitments: customer assets are never reused to train third-party models, ensuring GDPR compliance and protection of brand content. | Infonet
Chris O’Brien
📇 Company: Rift
🔍 Description: DeepTech startup building Europe’s first on-demand aerial intelligence network—combining long-endurance VTOL drones, autonomous deployment stations, and RiftOS software to deliver real-time reconnaissance without on-site pilots.
💻 Website: Rift
📍 HQ City: Paris region
🧗 Round: Seed
💰 Amount Raised: €4.6M (€3M equity + €1.6M public funding)
🏦 Investors: AlleyCorp, OVNI Capital
👨💼👩💼 Founders: Daniel Nef (CEO), Dorian Millière
🗞️ News: Rift raises €4.6M to accelerate the deployment of a sovereign, fully remote-operated aerial intelligence network designed for public safety and critical infrastructure. The company is ramping up production of autonomous drone stations and advancing mission-cycle automation as Europe doubles down on its strategic aerial intelligence capabilities.
Chris O’Brien
📇 Company: Revolt.eco
🔍 Description: SaaS all-in-one platform for renewable-energy installers, covering customer contact, technical project design, profitability studies, quotes, invoicing, progress tracking, and technical reports. Used by 500+ companies and enabling over 30,000 installations.
💻 Website: Revolt.eco
📍 HQ City: France
🧗 Round: Seed
💰 Amount Raised: €3m (including €0.8m debt)
🏦 Investors: Revent, Business Angels
👨💼👩💼 Founders: Guillaume Berson, Charles Gwinner, Fabien Defouilh
🗞️ News: The startup was founded in 2024 and already supports 30,000 installations via its “Revolt Pro” platform. The funds will drive the launch of a new product for energy-efficiency and HVAC (CVC) renovation, currently being tested with ~30 installers ahead of commercial rollout in early 2026. AI investments are a core priority: the company is enhancing its internal energy-modelling capabilities to build an intelligent assistant that becomes the “energy consultant” for PV installers, enabling multi-activity diversification when solar revenues fluctuate. The round will also fuel international expansion, starting with Belgium and other French-speaking markets before a broader European rollout. Revolt.eco continues to evolve its product with CRM upgrades (automated follow-ups, personalized emails), enhanced energy-profitability simulations (EMS, battery storage, rooftop power adjustments), and an upcoming material-ordering module in partnership with distributors, scheduled for Q1 2026. | Journal du Net, PV Magazine
📇 Company: LaFraise
🔍 Description: AI-powered platform streamlining dental care workflows by automating administrative tasks, managing treatment plans, enabling financing options, and ensuring compliance—designed to free dentists’ time so they can focus on patient care.
💻 Website: lafraise.pro
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: €3.2M
🏦 Investors: 20VC, Seedcamp, Kima Ventures, Bpifrance
👨💼👩💼 Founders: Arnaud Assous, Florian Duchêne, Matthieu Kern, Victor Schubert, Cédric Turquem
🗞️ News: LaFraise, founded six months ago and already used by 1,200+ dentists in France, raises €3.2M to expand its suite of AI agents and further simplify the dental-care journey for practitioners and patients. | Maddyness
📇 Company: MuchBetter.ai
🔍 Description: An AI-powered training and coaching platform for sales teams, simulating lifelike prospect conversations to improve onboarding, product rollouts, sales techniques, and relational posture.
💻 Website: muchbetter.ai
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: €3M equity + €1M debt (total €4M)
🏦 Investors: Educapital, Astorya.vc, Business Angels
👨💼👩💼 Founders: Julien Heissat (CEO & Co-founder)
🗞️ News: MuchBetter.ai raised €4M to accelerate commercial expansion and enhance its AI-driven sales coaching platform, already used by 35,000 employees and generating €1.5M in ARR. | Journal du Net
📇 Company: Rutile.bike
🔍 Description: Specialist in premium refurbished electric bikes, offering a trusted phygital model (online + showrooms) for high-quality second-hand e-bikes. Aims to build France’s first national network dedicated to reconditioned premium two-wheelers.
💻 Website: Rutile.bike
📍 HQ City: Villeurbanne (Lyon Métropole)
🧗 Round: Seed
💰 Amount Raised: €2M
🏦 Investors: Hand Partners, Fonds Régional Avenir Industrie Auvergne-Rhône-Alpes, UI Investissement, Isabelle Bou Antoun
👨💼👩💼 Founders: Thibaud Thomé, Adrien Goxe
🗞️ News: The new capital will enable Rutile.bike to expand its territorial presence—including a second Paris showroom—strengthen partnerships with manufacturers, and improve product durability and service quality. The startup targets 5,000 refurbished bikes by 2027, six retail locations across the country, and a team of 60 employees. The funding will support the expansion of a French industrial reconditioning chain, contributing to the circular economy and the growth of sustainable mobility. | Le Progres, LinkedIn
📇 Company: Exwayz
🔍 Description: Developer of LiDAR-based 3D perception and SLAM navigation software delivering centimetre-level, GPS-free localisation for autonomous vehicles and robots operating in challenging environments such as ports, tunnels, factories, and dense cities.
💻 Website: exwayz.com
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: €1M
🏦 Investors: CentraleSupélec Venture, France 2030 i-Lab Innovation Competition grant
👨💼👩💼 Founders: Hassan Bouchiba (CEO), Mathias Corsia (CTO), Antoine Plat (COO)
🗞️ News: Funding will support expansion of the engineering team, enhancement of SLAM algorithms, and global commercial deployment across robotics, mobility, logistics, and industrial inspection. Exwayz tech is already operating on five continents, powering autonomous trucks (Embotech) and large-scale 3D mapping (Cyvl.ai). | Tech Funding News
📇 Company: Aphasix
🔍 Description: AI-powered language-training platform designed for people with aphasia, offering adaptive, continuous rehabilitation between speech-therapy sessions. Exercises adjust to each user's level, analyze incomplete pronunciations, and provide personalized feedback to increase engagement and support long-term recovery.
💻 Website: Aphasix
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount Raised: €1M
🏦 Investors: Business Angels
👨💼👩💼 Founders: Carole Rinville, Matthieu Rinville, Pierre de Linage
🗞️ News: The funding will strengthen technical and research teams, expand product capabilities, and support wider deployment in France and internationally. The startup is also advancing on its regulatory roadmap, preparing clinical data collection in 2026 to obtain CE Medical Device status, a key milestone toward integration into care pathways and potential reimbursement by national health insurance. Developed with guidance from a scientific committee in neurology, speech therapy, and neuropsychology, the platform aims to provide accessible, continuous rehabilitation tools that patients can use daily between traditional therapy sessions. | Maddyness, Forbes, Les Echos
📇 Company: Elefantia
🔍 Description: Intergenerational memory-sharing platform helping people of all ages capture, preserve, and transmit their life stories. Combines human support through a network of trained “Elefantos” facilitators with a digital app designed to record, organize, and share personal memories.
💻 Website: Elefantia
📍 HQ City: Saint-Malo
🧗 Round: Seed
💰 Amount Raised: €1.05M
🏦 Investors: OneRagtime (lead), Business Angels 35, individual angels (Saïd, Eric, Florian), Le Poool, Bpifrance, Région Bretagne via Emergys, Carsat Normandie, Gérontopôle de Normandie
👨💼👩💼 Founders: Guillaume Besso, Thierry Moncorg, Julie SOM
🗞️ News: Launched only a year ago, the startup aims to make it possible for every person in France—regardless of age or background—to document and pass on their life story through an intuitive app and the support of Elefantos, its trained network of memory-collection companions. The funding will enable Elefantia to scale its intergenerational storytelling service, enhance its mobile app, grow its facilitator network, and expand across France. | LinkedIn
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