France has been working forward to catalyse the startup ecosystem. The French government aims to have 20 tech unicorns by the year 2025. Notably, the U.S. is leading the race with 165 unicorns while China has 90 and the U.S. has 16 unicorns. And, it looks like France is all set to realise this vision as it is witnessing a series of large funding rounds so far this year.
As per a report by CB Insights, in the second quarter of 2019 ending June 30, 2019, the French tech companies have witnessed record-high deals and investment. In the first half of the year, overall funding of $2.7 billion was pumped into French tech companies, giving rise to anticipations that there could be $5.5 billion funding by the end of this year.