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June AI Funding 🚀: Mistral AI, Poolside AI, Dust, Omi, Veeton & More!

16 French AI companies raised a VC round in June: Gireve, Descartes & Mauss, Kelvin, Deema, Morfo, Tengo, Veeton,, Finovox, Quantiq Medical, Seelab, and Tetmet.

Veeton Co-Founders (l to r) Christian Kotait, Flore Lestrade, Tristan Franço
Veeton Co-Founders (l to r) Christian Kotait, Flore Lestrade, Tristan Franço
Fichier:Logo Mistral ai.webp — Wikipédia

What: Mistral AI, an open-source developer of foundational models for AI solutions (art generation, content creation, chatbots, virtual assistants, language translation, and customer service).

Why: To provide an open approach to GenAI and create a credible alternative to Large Language Model platforms such as Open AI or Google AI.

Funding: €468 million (plus €132 million in debt) Series B
Who: Co-Founders Arthur MenschGuillaume Lample, & Timothee Lacroix

Investors: DST Global, General Catalyst, Lightspeed Venture Partners, Andreessen Horowitz, Nvidia, Samsung Ventures Investment Corporation, Salesforce Ventures, Belfius, Bertelsmann Digital Media Investments, Bpifrance, Cisco Connected Devices, Eurazeo, Headline, Hanwha, IBM, Korelya Capital, Latitude, Millennium Technology Value Partners, Sanabil Investments, ServiceNow, and SV Angel.

What's Next: The new cash will go towards accelerating the development of their advanced GenAI models, scaling their research and engineering teams, and enhancing their computational infrastructure. Additionally, the funds will support efforts to expand their product offerings and increase accessibility to their AI technologies across various industries.

What: Poolside AI is building an LLM for software developers.

Why: To accelerate and democratize software development.

Funding: $400 million at a valuation of $2 billion (Source: Techcrunch)
Who: C0-founders Jason and Eiso Kant

Investors: Bain Capital Ventures (BCV) and DST

What: Gireve, a digital platform for electric charging interoperability.

Why: To connect e-charging operators through its digital platform to enable roaming charging and facilitate contractual exchanges between different operators. The startup also provides data and analysis on charging stations and driver behaviors to government bodies and private actors.

Funding: €20 million
Who: Chairman Eric Plaquet

Investors: Partech (impact fund) & Demeter 
What's Next: The new cash will go towards powering the platform’s European and international expansion and developing new services such as Plug & Charge and Clearing. It will also enable the company to expand its range of data and consulting solutions. 

What: Dust helps companies launch AI assistants.

Why: To allow teams to collaborate more effectively while lowering costs.

Funding: $16 million Series A

Who: Co-founders are Stanislas Polu and Gabriel Hubert

Investors: Sequoia Capital led the round with participation from historical investors such as XYZ Venture Capital, Connect Ventures, and Seedcamp.

What's Next: The company has passed $1M ARR and intends to use the money to accelerate product development and expand its team.

Omi: Startup Raises $6 Million Seed Round From Dawn Capital - Business  Insider

What: Omi, an AI-powered visual generation platform.

Why: To assist companies and brands in creating 3D visual assets.

Funding: €13 million
Who: Co-founders Hugo Borensztein & Paul Borensztein

Investors: Dawn Capital, Founders Future & various Business Angels

What's Next: The new funding will be used to expand into the US market.

What: Descartes & Mauss, an end-to-end AI-powered SaaS platform that automates the decision-making process.

Why: To take the risk out of decision-making and allow managers to make faster and more informed decisions.

Funding:  €5.5 million
Who: CEO Maurice N'Diaye and COO Thomas Decerisy

Investors: Elaia Partners, Polytechnique Ventures

What's next: The AI-powered SaaS will use the new cash to power its ascension as a global leader in the new “StraTech” category, automating companies’ strategy playbook with their proprietary SaaS AI-enabled platform.

What: Kelvin, a SaaS specialized in creating home energy assessments using machine learning.

Why: To improve energy efficiency audits.

Funding: €5 million
Who: Clémentine Lalande, Pierre Joly, and Guillaume Sempé

Investors: Racine² (MGEN) Makesense, Serena, Seedcamp, Raise Capital, Kima Ventures, Motier Ventures & several Business Angels

What's next: The new funding will be used to develop new features and reach a hundred clients by 2025.

What: Deemea, an AI-powered SaaS software for advanced medical imaging.

Why: To enhance biomedical research by managing the entire clinical research process, from data collection to statistical analysis, ensuring efficient and quality-assured data handling. DEEMEA's platform also includes specialized applications to automate image annotation and data review.

Funding: €4 million
Who: Michel Bonnin, Tarik Ait Si Selmi, Bruno Maisonnier, Bechara Wakim, Charles-Edouard Bouée

Investors: Karista, YZR Capital

What's next: The funding will be used to fuel the startup's next phase of growth and expansion into Europe to provide the research community with a comprehensive, collaborative, multi-site, and cooperative platform for sponsors and investigators.

What: Morfo is using local seeds, biological symbioses, drones, and artificial intelligence to catalyze reforestation and fight global warming.

Why: To restore 100 million hectares of forests by 2050.

Funding: €4.0m angel round extension.

Who: Co-Founders are Hugo Asselin, Pascal Asselin, and Adrien Pagès.

Investors: French footballers Antoine Dupont and Raphaël Varane

What's Next: Morfo will accelerate development and open a new lab in Rio.

What: Tengo, a SaaS platform that helps businesses win more public tenders.

Why: To enable more businesses to tap into opportunities in the public procurement market.

Funding: €3.0m Seed

Who: Co-founders Hugues Renou & Yoann Gauthier

Investors: Point Nine

What's Next: The fresh cash will allow Tengo to make the public tender market more accessible to all businesses by accelerating the integration of AI into its product with AI-powered response assistance features (currently being tested by clients).

What: Veeton, a generative AI model for creating life-like images.

Why: To create product sheet visuals on fashion e-commerce sites, offering fashion brands an alternative to photo shoots.

Funding: €2 million
Who: Flore Lestrade, Christian Kotait, Tristan François

Investors: Founders Future, Armilar Venture, Kima Ventures, business angels

What's Next: The new money will be used to fuel development.

Who: Webyn is a SaaS platform that uses AI to generate web pages that are optimized and personalized for each visitor.

Why: To increase sales and conversation rates for businesses.

Funding: €1.2m Seed (including €0.3m debt)

Who: Co-founders are Vincent Oliveira and Alexandre Farhat

Investors: Tomcat Invest, Sharpstone Capital, Sphère Ventures, Business Angels

What's Next: Webyn just completed the acceleration program at Tomcat Factory and is now targeting the French market, then Europe, before a global expansion. The money will be used for R&D and to expand marketing.

What: Finovox, a security and cyber security document fraud detection software.

Why: To detect false documents.

Funding: €2.8 million
Who: Marc de Beaucorps, Théophile de Bouët du Portal et Pierre-Alexis Gouzien

Investors: Blast Club, Inter Mutuelles Assistance, Vaex Capital Partners, Shapr Ventures, Super Capital, Side Angels, business angels

What's next: The startup will use the fresh cash to develop its product and fuel sales efforts.

What: Quantiq Medical is an AI video-based health monitoring solution that uses its Cobox software to turn a camera, webcam or smartphone into a medical device that can measure pulse, respiratory rate, and more.

Why: To improve access to medical monitoring.

Funding: €2.6m Seed Round (equity + debt)

Who: Co-Founders are Alain Habra and Fabien Niel

Investors: Business Angels including Didier Kuhn, Numa Jequier, Arnaud Collin, and Sebastien Baert

What's Next: The company is seeking regulatory approval in France, and eventually the U.S.

What: is a GenAI platform for creative teams.

Why: To enhance and simplify branding by rapidly creating dozens of photos, illustrations, and vector images.

Funding: €1.0m Seed

Who: Co-founders are Ronan Tessier, Julien Rebaud, and Matthieu Grosselin

Investors: SIDE Angels

What's next: The company has released a beta version is now working toward full commercialization and expanding its team.

What: Tetmet has developed a process called Adaptive Spatial Lattice Manufacturing (ASLM) that uses solid metal rods and AI-controlled robotic arms to create lighter and sturdier structures compared to traditional 3D printing methods.

Why: To enable more intricate and reliable designs while using less energy.

Funding: €500,00o Pre-seed

Who: Co-founders are Tom Vroemen, Peter Evers, Justin Dirrenberger, Nicolas Chaignet, and Rachel Azulay.

Investors: S&S, Eatwell, rpv (previous investors include Sequoia)

What's Next: The company was just part of the winter batch at Incubateur HEC Paris in Station F. The money will be used to continue research and product development.