Sixth cohort of the French Tech Next40/120: French government selects the country’s most innovative scaleups

The French Tech Mission has announced the companies selected for the 6th edition of the French Tech Next40/120 programme. The initiative supports tech scaleups in France. 

The programme is part of the government’s effort to promote leading players in the tech sector. A total of 120 companies were chosen based on revenue growth and total funds raised over the past three years.

The 2025 French Tech Next40/120 programme features 120 fast-growing tech scale-ups.

The 40 companies selected for the Next40 segment include: Agryco, Alan, Alice & Bob, BackMarket, BlaBlaCar, Brevo, Chapsvision, ClubFunding, Contentsquare, Descartes Underwriting, Doctolib, EcoVadis, Ekwateur, Electra, Equativ, Exotec, Flying Whales, Gojob, HOMA, Innovafeed, Ledger, LeHibou, Malt, Mirakl, Mistertemp’ Group, Mistral AI, NW, PayFit, Pennylane, Pigment, Qair, Qonto, Spendesk, Swile, Verkor, Vestiaire Collective, Voodoo, Weezevent, Worldia, and Zeplug.

Over 90 per cent of these companies have expanded internationally, with commercial operations in countries such as the United States, Germany, Spain, Italy, and the United Kingdom.

Here’s the list of 120 ‘most promising’ French scale-ups selected for the programme.

French tech scale-ups expand their global footprint

The 2025 cohort exemplifies the global impact of French innovation. The cohort includes companies like Mistral AI, Back Market, and Pasqal. Over 93 per cent of these scale-ups have established an international commercial presence, up from 88 per cent in 2024. 

Exports make up 35 per cent of the cohort’s total revenue, and for 25 per cent of Next40 companies, international markets represent more than 50 per cent of their income. 

Together, these 120 scale-ups employ over 40,000 people worldwide across sectors such as AI, GreenTech, FinTech, InsurTech, HealthTech, HR Tech, cybersecurity, logistics, cultural and creative industries, quantum computing, and space. 

This range of sectors reflects the breadth of the French Tech ecosystem and its role in advancing technological development globally.

French Tech companies are expanding into key markets including the US, Germany, Spain, the UK, Belgium, Italy, Canada, the Netherlands, Japan, and Switzerland. At least 20 companies from the French Tech Next40/120 have commercial activities or presence in each of these countries. 

From the 2024 cohort, Qonto doubled its presence in Europe, and Electra operated over 450 EV charging stations in 10 countries. Voodoo earned more than half of its €623M revenue outside Europe, with games available in over 250 countries and 150 million monthly users. The acquisition of BeReal strengthened its position in markets such as the US and Japan.

Deeptech and AI shape France’s innovation leadership

The latest French Tech Next40/120 cohort highlights the growth of deeptech, with France strengthening its position as a global player by hosting over 2,500 startups and ranking fourth worldwide after the US, China, and the UK. 

In 2025, deeptech accounts for nearly a quarter of the new cohort, with 29 companies active in sectors like AI (including H, Bioptimus, and Gleamer), quantum computing (Alice & Bob), cybersecurity (Sekoia, Filigran), health (Wandercraft), and ecological transition (Metron, Elicit Plant, Fairmat).

Artificial intelligence is a major focus, with France home to over 1,000 AI startups and nearly €1.6B raised in 2024 by generative AI companies.

After the AI Action Summit in Paris, France leads the EU in AI development. More than one-third of the 2025 cohort centers on AI, developing technologies to support digital sovereignty in France and Europe. Notable companies include Mistral AI and H Company, which raised €600M and €200M, respectively.

French Tech firms are embedding AI into their products and services to boost performance and compete globally. Examples include Doctolib’s AI assistant for medical consultations, Electra’s AI-managed electric vehicle charging network, and Sekoia’s AI-based cybersecurity threat detection.

The French Tech Next40/120 programme continues to back France’s economic, technological, and industrial ambitions by fostering innovation and growth.

Théau Peronnin, CEO & co-founder of Alice & Bob, says, “This selection further solidifies our position at the forefront of quantum technology and highlights our potential to revolutionise industries with scalable, error-corrected quantum computers.” The startup recently raised $114M in funding and plans to build a $50M advanced quantum lab.

Julie Huguet, Director at the Mission French Tech, adds, “To secure a spot in this exclusive group, startups must meet specific metrics for net sales figures, annual growth or funds raised over three years. Alice & Bob join an elite group of forward-thinking tech companies leading their respective industries.”

Brief about the French Tech Next40/120 programme

Launched in 2019, the French Tech Next40/120 programme supports the growth of 120 fast-growing tech scale-ups in France, helping them aim for global leadership. Managed by the French Tech Mission, companies are selected each year based on clear performance criteria.

Participants receive tailored support from dedicated startup managers who assist with issues such as regulations, international growth, hiring, visibility, and social impact areas like gender balance and ecological transition. The programme also builds a peer community where CEOs can share experiences and collaborate.

By backing both established scale-ups and emerging companies, the French Tech Next40/120 programme drives the transformation of the French economy through innovation, industrial renewal, and increased global presence.

The French Tech Mission

The French Tech Mission, part of the Ministry for the Economy, Finances and Industrial and Digital Sovereignty, supports the French startup ecosystem. It assists leading startups through the French Tech Next40/120 programme and helps companies in key sectors identified by the “France 2030” plan via the French Tech 2030 programme.

Programmes like French Tech Tremplin enable individuals without prior entrepreneurial experience to start businesses across France. 

To promote a competitive market, the Mission launched “Je Choisis la French Tech”, encouraging public administrations and corporations to adopt solutions from French startups. The Mission is supported by a global network, including 17 capitals and 31 communities within France, 67 international communities, 6,000 startups, and 1,400 volunteers across 52 countries.