The coronavirus pandemic outbreak has stumbled the whole world causing an economic breakdown and affecting all industries. As a result, the small and medium businesses across the world have been impacted due to the spread of the pandemic. To help these companies, respective governments have come up with rescue measures.
Likewise, the French Ministry of State for Digital Affairs Cédric O and Bpifrance announced a comprehensive support plan of €4 billion targeted at startups in the country. With this, the French government intends to bridge the gap between refinancing and liquidity measures temporarily.
However, the French startups have been performing impressively well, even during the pandemic and have attracted significant funding to fuel their growth. Here is a list of aspiring French startups that have secured maximum funding in March 2020 while the COVID-19 pandemic has taken a toll across the world as sourced from Dealroom.
Pixpay
Founder/s: Benoit Grassin, Nicolas Klein, Caroline Ménager
Founded year: 2019
Total Funding: €11.1 million
Pixpay works with the mission to help young people manage money by teaching them financial independence in a fun way. In March 2020, the French startup raised €8 million funding from Global Founders Capital to strengthen its position in France and grow its team.
Basically, Pixpay wants teens to become better adults by letting them learn little by little along with experimenting and the help of their parents. Furthermore, the company provides parents with the best of technology so that they can give their resources to their teens and let them make their choices and help them grow at a time when money is becoming a digital entity.
Akur8
Founder/s: Samuel Falmagne
Founded year: 2018
Total Funding: €8.1 million
Paris-based Akur8 is one of the fast-growing insurtech startups that operates with the objective to bring about a revolution in insurance pricing activities with its unique AI algorithms. Last month, Akur8 raised €8 million Series A funding from BlackFin Capital Partners and MTech Capital to be used to accelerate its expansion into the international markets across Europe and the US.
The French company offers AI-powered pricing automation and optimisation for insurance carriers. Akur8 also developed a unique cloud-based SaaS platform, which lets insurers build risk models that are 10 times faster than the manual process.
Qarnot
Founder/s: Paul Benoit, Miroslav Sviezeny
Founded year: 2010
Total Funding: €10.7 million
Qarnot is one of the first companies to provide high-performance, climate-conscious cloud computing solutions. It sells cloud computing capacity and uses the unwanted heat generated from computer services to heat water and buildings in a sustainable way. As of now, the demand for computing capacity is on the rise as it contributes to climatic changes. Recently, the The French startup recently secured €6 million from a slew of investors such as Banque des Territoires, Caisse des Dépôts, Engie Rassembleur d’Énergies, A/O PropTech, and Groupe Casino that will let it become a leader in high-performance computing in Europe.
Demand Side Instruments
Founder/s: Frédéric Villain
Founded year: 2013
Total Funding: €3.7 million
Demand Side Instruments is a pioneer in developing technologies for the energy transition. It was the result of the founder’s wish to apply new technologies to meet environmental challenges. This French startup intends to help those who are working on smart cities and agriculture stay ahead of climatic changes. Back in March 2020, Demand Side Instruments secured €3.6 million Series A funding led by Gedia Energies et Services to accelerate the development of the company in France and expand in the international markets.
CALIXAR
Founder/s: Emmanuel DEJEAN
Founded year: 2011
Total Funding: €2.5 million
CALIXAR is a biotech startup specialised in the functional and native isolation of complex therapeutic targets and antigens. The company develops and implements chemistry and biochemistry tools. With its original chemistry and specific approaches designed on demand, CALIXAR develops new tools and protocols for the expression, extraction, purification, and crystallisation of antigens and membrane proteins from cells. Last month, CALIXAR secured €2.5 million funding that will let the company build an unparalleled pipeline of therapeutic targets and become a leader in pharmaceutical development.
Wellium
Founder/s: NA
Founded year: 2016
Total Funding: €2 million
Wellium is a leading startup in telemedicine that has launched two products – Feelae and Leah. The former is an off-the-shelf teleconsultation application meant for individuals while the latter is an online consultation and video appointment service for doctors and healthcare establishments. Also, last month, Wellium raised €2 million funding from the MACSF group and Advent France Biotechnology. This fund will be used for the growth of its online tool Leah and make it more relevant during the global health crisis due to coronavirus.
Club-Employés
Founder/s: Pierre-Thomas LEBATTEUX, Romain ROSTAGNAT
Founded year: 2017
Total Funding: €1.5 million
Club-Employés is a startup specialised in products and services for employees. The company reinvents old loyalty models and inequalities of benefit programmes provided by French companies with a new approach. The corporate benefits platform of Club-Employés is available 24/7 and can be accessed from any device such as smartphones, tablets or computers. Recently, this startup secured €1.5 million funding from BPI and Angelor to strengthen its sales teams, continue to develop new features, and develop its marketing approach.
Cureety
Founder/s: François-Guirec CHAMPOISEAU, Hugo BREITWILLER
Founded year: 2018
Total Funding: €1.2 million
Cureety is a telemedicine startup that works towards improving the follow-up and care of patients. This startup develops an e-health solution that makes it possible to monitor and optimise care of cancer patients remotely. This tool improved the patient journey as doctors and healthcare professionals can monitor real-time side effects of their treatments. This year, Cureety secured €1.2 million led by five business angels, BPI France, Crédit Mutuel Bretagne (CMB), Crédit Agricole (CA) Bretagne, and Cureety’s existing partners.
Coverd
Founder/s: Hugo Saias
Founded year: 2019
Total Funding: €1.2 million
Coverd is an insurtech startup specialising in smartphone coverage with its post-purchase protection plan. Any user with a new, used, second-hand or rented smartphone can sign up for the insurance service provided by Coverd. What’s interesting is that this startup provides customers with a repair solution ahead of subscription even if the device is broken. Back in March 2020, Coverd bagged €1.2 million funding from Newfund and several private investors. The investment will be used to boost its position in the insurtech market and become a leader in the mobile insurance industry in the country.
Boks
Founder/s: NA
Founded year: 2017
Total Funding: €1.2 million
Boks’ connected solution guarantees parcel reception to building occupants 24/7 by any courier. It does not require any installation such as power wire, data connection or masonry and provides services at a moderate cost with reduced footprint. Boks aspires to be a leading player in the parcel receipt industry and has raised €1.2 million last month from renowned business angels, industry players, real estate professionals, and BPI.
Main image picture credits: Akur8
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