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French Technology Companies on Track for Record Funding in 2019- France now second-largest European tech market by dollar funding, outpacing Germany and just behind the UK. - Q2’19 dollar funding has been driven by nearly one dozen $50M+ deals, including rounds to notable French startups: Meero, Doctolib, and ManoMano. Paris, France: 11 September 2019 – La French Tech in partnership with CB Insights has today announced that French technology startups have raised more than $2.7B in funding in H1’19 across 381 deals. The quarterly La French Tech report notes that deals and funding to private French tech companies are on pace to reach record highs. Annual funding could reach a record $5.5B and deal activity may grow by 5% to 768 deals by the end of the year. The second quarter saw notable increases in deal and dollar activity, increasing 13% and 33% respectively from the previous quarter. France is still the second-largest European tech market by dollar funding, maintaining its narrow lead ahead of Germany in Q1’19. Although the UK maintained its position as the largest technology market in Europe, funding decreased by more than $2B ahead of the October 31st Brexit deadline – narrowing the UK’s lead over France, the only market of the top three to see growth in 2019. Within France, Paris received $1.2B of investment across 83 deals in Q2’19; a record in quarterly dollar funding for the city. Other notable cities for French Tech deals in Q2’19 include Lyon, which received nine deals and Lille, which received six. "This past quarter, France was the only major European market that saw funding and deal growth into tech startups as compared to its peers in Germany and the UK," said Anand Sanwal, CEO of CB Insights. "There is a lot of momentum in France's tech ecosystem at this time, and if 2019 continues at this pace, deals and dollars into tech companies should reach record highs." Key highlights for H1’19, according to the La French Tech and CB Insights report: - Q2’19 deal activity saw an increase of 13% from the previous quarter. This is the highest quarterly total since 2017, and the third-highest total in the previous 5 years. - Q2’19 dollar funding also increased from the previous quarter, growing by 33%. The largest deal of the quarter was a $230M Series C to commercial photography and video startup Meero. - France’s average deal size ($7.6M) remains below the UK’s ($10.5M), highlighting the country’s relative emphasis on investing in and promoting early-stage start-ups. - Some of France’s most active incubators and accelerators in Q2’19 are geography-focused. These include: (1) Paris&Co, the economic development agency of Paris, which helps incubate and assist hundreds of startups in the city every year, and (2) Impact USA, the program organized by Bpifrance and Business France to help French Tech startups launch in North America. - Getaround’s acquisition of car rental platform Drivy for $300M marked the largest VC-backed acquisition in the first half of 2019. The full CB Insights report can be found here: https://www.cbinsights.com/research/report/french-tech-q2-2019/ ### About La French Tech La French Tech represents the French startup ecosystem including startups, public organizations, incubators, investors and corporations. It is a government-backed movement bolstering France as one of the best countries in the world to start, scale, invest and work for global tech champions. La French Tech is also the nickname for all the people committed to the growth of this ecosystem wherever in the world they come from. More info can be found here: https://joinlafrench.tech/about-la-french-tech/ About CB Insights At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change. As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. If you feel this entry is of inferior quality or wish to report it for some reason, please forward the URL to "webedit [AT] tmcnet [DOT] com" with your comments. |