Enjoy this weekly recap of the big news + funding in the French tech ecosystem this week.
In this edition:
🚀 The Exploration Company raises €150m to build a European space competitor. Chief Commercial Officer Dana Baki explains the vision.
👓 Microoled is ramping up production of its pioneering display technology with a boost from a new investor. CEO Eric Marcellin-Dibon argues that the company can play a key role in making AR more mainstream.
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Chris O'Brien + Helen O'Reilly-Durand
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Tech Talk
☔ With the short-term outlook in European tech remaining rather gloomy, Atomico opted to take a long walk down memory lane in its 10th annual State of European Tech Report. Atomico diplomatically said that the "mood in 2024 has been flat" but wanted to remind Eurotechies that You've Come A Long Way, Baby! In that regard, France has managed to claw its way into Europe's Tech Trinity: "The biggest leaps forward have taken place in the UK, Germany, and France," the report says. For 2024, though funding continues to slump, the UK is on track to lead the way with $13.1B in 2024, followed by France and Germany with $7.5B and $6.7B raised respectively. 🌦️
🥷 ChapsVision, the Silent French Tech Ninja, has struck again. The little-known company flexed its acquisition muscles, snapping up AI search firm Sinequa and raising €85 million to turbocharge its ambitions in artificial intelligence. Well before this latest tech glow-up, ChapsVision has been quietly amassing an empire since its inception in 2019 by devouring niche B2B tech companies. Dubbed the "discreet ogre" of French Tech by Les Echos, this marks the 27 acquisition by the company. The €85 million funding boost came from Cathay Capital and Bpifrance. 🍽️
How Display Pioneer Microoled Wants To Bring AR's Future Into Focus
Founded in 2007 by CEO Eric Marcellin-Dibon and CTO Gunther Haas as a spinoff from electronics giant Thomson, Microoled has established itself as Europe's leading manufacturer of OLED microdisplays. These tiny but powerful displays, which can pack laptop-screen resolution into a space smaller than a thumbnail, are used in everything from professional camera viewfinders to military night vision equipment.
The company has received a strategic investment from Applied Ventures, the venture capital arm of Applied Materials, to accelerate the development of its next-generation OLED microdisplay technology.
"The challenge," said Marcellin-Dibon, "is to develop a display technology that is highly luminous at very low power consumption."
The Exploration Company Raises €150M To Get Europe Back In The Space Race
The Exploration Company (TEC) has secured €150 million ($160 million) in Series B funding to develop the continent's first reusable space capsule, a significant step for Europe's private space industry that has been lagging behind global rivals.
"We believe that Europe is very well positioned to play a more collaborative role in space and push space to be much more internationally collaborative, said Dana Baki, TEC's Chief Commercial Officer. "We want to be bringing nations together to approach space very differently. We think, for that reason, it's quite special."
Funding
📇 Company: Faircraft
🔍 Description: Developing lab-grown leather using patented tissue engineering techniques for sustainable, high-quality leather goods.
💻 Website: https://faircraft.bio/
📍 HQ City: Paris
🧗 Round: Series A
💰 Amount raised: €15 million
🏦 Investors: Kindred Ventures, Cap Horn, BPI, Sake Bosch, Entrepreneur First, Alliance for Impact, Heirloom
👨💼👩💼 Founders: Haïkel Balti, César Valencia Gallardo
🗞️ News: https://www.maddyness.com/2024/11/21/faircraft-boucle-une-serie-a-pour-sindustrialiser/
📇 Company: Solteo
🔍 Description: SaaS platform for renewable energy installers, enhancing solar project management.
💻 Website: https://www.solteo.fr
📍 HQ City: Paris
🧗 Round: Seed
💰 Amount raised: €1.5 million
🏦 Investors: Axeleo Capital, Kima Ventures, Campus Fund, and angel investors
👨💼👩💼 Founders: Manon Hias, Alexandre d'Auvigny, Kévin Bée
📇 Company: Arenametrix
🔍 Description: Fan Relationship Management & Revenue Optimization Platform
💻 Website: https://arenametrix.com/en/
📍 HQ City: Paris
🧗 Round: EARLY VC
💰 Amount raised: €8.0M
🏦 Investors: Newfund; Reflexion Capital
👨💼👩💼 Founders: Ludovic Bordes; Ludovic Bordes; Kévin Vitoz
🗞️ News: https://startup-in-europe.com/2024/11/arenametrix-raises-8-million-euros-to-develop-its-crm-dedicated-to-the-cultural-and-sports-sectors/
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