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France is home for many tech startups such as BlaBlaCar, Virtuo, Shift Technology and more.
The tech is flourishing in cities like Paris, Lyon because there is a passion for entrepreneurship and innovation in the country. And, there are many new startups that have come with several new concepts. These budding startups are motivated and fueled by investments.
Last month, many tech startups from France raised some brilliant investment rounds and today we at Silicon Canals, have compiled a list of eight French startups that got the maximum funding in February 2019. Let’s take a look at the roundup:
#1 Ÿnsect (Funding – €110M)
Ÿnsect is an agritech startup that produces insect-based animal food. It was founded in 2011 by Alexis Angot. The startup uses unique and scalable technology, making it the world’s largest insect producer. In February, Ÿnsect raised $125 million (nearly €110 million) funding led by Astanor Ventures along with participation from Bpifrance, Talis Capital, Finasucre, Idinvest Partners and Compagnie du Bois Sauvage.
#2 Mirakl (Funding – €62M)
Mirakl is a global marketplace solutions provider founded in 2011 by Adrien Nussenbaum and Philippe Corrot. Its API-based marketplace platform targets both B2C and B2B verticals. Recently, this startup raised €62 million funding from Bain Capital Ventures along with existing investors including 83North, Felix Capital and Elaia Partners.
#3 Alan (Funding – €40M)
Alan, a digital health insurance platform offers hassle-free health insurance solutions to users. Founded in 2016 by Charles Gorintin and Jean-Charles Samuelian, this Paris-based startup secured €40 million in a Series B funding round from Index Ventures and DST Global. On the whole, this startup has raised nearly €75 million funding to date.
#4 Lunchr (Funding – €30M)
Lunchr is a startup that helps employees of small companies by providing them with digital meal cards. With this startup, companies can given their employees food and meal purchases worth $15 a day. This startup was launched in 2017 by Loïc Soubeyrand and Charles Taylor. Recently, Lunchr bagged $34 million (€30 million) funding from Index Ventures along with existing investors such as Daphni, Kima Ventures and Idinvest.
#5 Malt (Funding – €25M)
Malt was launched in 2014 by Vincent Huguet and Hugo Lassiège. It is a freelance marketplace providing freelancers with regular freelancing jobs from several companies. It also helps them with the admin process, insurance, grievance redressals and health coverage. Last month, the startup received €25 million from an investment round led by Idinvest Partners along with its existing investors including ISAI and Serena.
Biotech company Afyren produces chemically and energetically viable biomolecules via direct valorisation of waste or non-food biomass. It follows an eco-friendly and sustainable procedure involving bio-degradable fermentation residues and natural micro-organisms. In February, Afyren secured €21 million in a funding round led by Sofinnova Partners and Valquest Partners.
#7 Virtuo (Funding – €20M)
Virtuo is a strong player in the car rental startup arena. Founded in 2016, Virtuo has managed to eliminate all the issues in traditional car booking with its 24/7 digital solution. Recently, it raised £17.3 million (€20 million) Series B funding from Iris Capital and existing investors including Balderton Capital and Raise Ventures.
#8 Ergosup (Funding – €11M)
Ergosup is a French startup that develops hydrogen infrastructure based on the patented technology of electrolysis of water under extremely high temperature. It results in low-carbon hydrogen used for both low-carbon industrial gas and clean mobility applications. Recently, the French startup raised €11 million PSIM (Major Innovation Support Programme) Fund from a slew of investors.
Stay tuned to Silicon Canals for more updates in the tech startup world.