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French VC Funding Deals a Winning Hand Against European Elite in 2017

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by Startacus Admin

French VC funding 2017
French VC Funding Deals a Winning Hand Against European Elite in 2017 setting the stage for acceleration in 2018!
 

According to Atomico’s State of European Tech report published at the end of last, France took the lead position in Europe for the first time in 2017 in terms of VC deals. Launched at Slush December 2017 in Helsinki the report highlighted that more investment deals were closed in France in 2017 year compared to the UK and the rest of Europe.

French VC funding 2017The UK was still the biggest recipient of VC funding, taking in 6.7€ billion in 2017 (3.1€ billion for Germany and 2.6€ billion in France), however with the highest volume of investment deals, we thought it a pretty opportune time to take a look at some of the standout French investment deals which took place during 2017.

Let’s take a quick step back.

700+ venture deals in 2017 is no mean feat, but momentum in France, in terms of buoyant French investment, has been a gradual, but well mapped out process. According to market research firm CB Insights, the 700 new venture deals which took place in France in 2017 of significant growth vs 251 venture in 2015. Statistics by data provider Dealroom also indicated that the UK was outpaced by France in VC funding during the first half of 2017.

La French Tech, a rising start-up nation 

We’ve been taking a real interest in La French Tech over the last few months. The nationwide initiative, now 4 years in development, can take much of the credit for creating the environment where tech startups don’t just grow, but flourish. French Tech Ticket, the French Tech Visa scheme, and the proactive approach to embracing investors into the French tech ecosystem, have all helped in creating an ecosystem of real international significance. 

At the Web Summit 2017, 5 French startups, namely Deepomatic, Recast AI, CosmoTech, Tellmeplus, and Finalcad were listed in the Top 10 of the most solicited by international investors.

Lifeina - a French MedTech startup also took the Web Summit PITCH 2017 title. Not quite global dominance just yet, however, it’s further indication Lifeinathat La French Tech continues to impress and impress on the big stage too. 

French Fintech ranked in world’s top 100

On the growing significance of the French fintech ecosystem, it is also worth noting that six French fintech companies feature among the 2017 H2 Ventures KPMG Fintech 100 that ranks the world’s leading Fintech innovators driving change in the financial services industry. 

TOP FRENCH VC WINS OF THE YEAR 

Among the 700+ French venture deals wound up in 2017, there were 5 startups that hit the top 5 jackpots. 

ActilityActility, that develops low throughput networks for IoT launched in 2010 raised 70€ million, an operation that allows the startup to accelerate the development of its ThingPark solution and extend business to the US and China. 

Ivalua, with its high performing e-procurement solutions for companies, won over investors in and gained a 70€ million funding. The operation enables the startup to reinforce its presence on a consolidating market.

Doctolib pulled in 26€ million in Q1 and then 35€ million in Q4 totalling 61€ million for 2017.

ManoMano, the online DIY and gardening ecommerce platform launched four years ago, raised a whopping €60 million. This fresh funding enables ManoMano to accelerate its growth through innovation, product development and also to strengthen its presence in Europe. 

Vestiaire Collective, Fashion Tech high rising start up with 6 million fashion savvy members in 50 countries around Vestiairethe world raised 58€ million.

2018 and Beyond

French funding is continuing on its upward curve. That’s not merely our own observations, but one that can be backed up. This French VC list from Serena Capital is a good place to start if you are looking to find out what VC funds currently operate in France.

French VC funding 2018 and beyondThe results of the 2017 Edition of the Bain Barometer on the morale of American investors in France, published at the end of last year, also highlighted that more than two-thirds of the US investors they interviewed saw the future of the French economy in a very positive way, while one in two American investors were thinking of recruiting new employees in France in the next 2-3 years.

International involvement in French tech funds continues to grow. For example, in October it was announced that South Korea’s Naver Corp was to invest a further 100 million euros in French tech fund K-Fund I (a fund managed by Korelya Capital).

And finally, this excellent article from Elie Denfert-Rochereau, Principal at White Star Capital goes along way to why and how France is positioning itself as a major player on the global tech landscape

Citing earlier stage seed-specialist funds like Kima Ventures, Jaina Capital, Kerala Capital, Otium Capital, larger French VC funds from the likes of Partech, Ventech, Alven, Idinvest, Newfund, Isai, and a big growth in international capital from Balderton, Accel, USV, Benchmark, First Mark Capital, Insight Venture Partners amongst others, it’s fair to say the French tech ecosystem is odds-on to continue to grow in 2018 and beyond.

We look forward to further reporting on the state of French VC funding going into 2018. 


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Published on: 31st January 2018

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