Lately, the French Tech ecosystem witnessed a spectacular growth, all thanks to the new wave of entrepreneurs, investors, and talented people. As a result of this growth, there is an exponential increase in the number of fundraising. French Tech companies across various sectors have gained the attention of investors with their innovation.
La French Tech is a movement for entrepreneurs and is backed by the French Tech Initiative, which is a public policy created by the government of France in 2013. This initiative has motivated startups as these create economic value.
Recently, CB Insights came up with a report detailing tech funding trends in France. The report gives a data-driven and comprehensive look at the emerging trends, active investors and their investments in France in Q2 2019. It also shows that Paris is the most active city in terms of tech investments in Q2 2019 with a recording of $1.2 billion in funding across 83 deals. It also shows the other impressive tech cities in France in 2019.
Paris, the French capital is a leader when it comes to tech startups. The city is home to several hundreds of tech startups and also aims to create the world’s largest startup incubator. A few years back, the government took efforts to make Paris a better destination for startups and these efforts have turned fruitful and Paris has exponentially grown into a tech hub. In the second quarter of this year, Paris witnessed 83 deals with companies like meero, PayFit, BioSerenity, Vestiaire Collective, and ManoMano having got funded.
Lyon is at the east-central part of France and the second richest city next to Paris. The economy in this city features a significant software industry. Over recent years, Lyon has fostered a growing number of local startups. There a number of coworking spaces as well in the city. During the second quarter, the city received 9 funding deals with LumApps and Brigad being among them.
Montpellier, a city in southern France, is the seventh-largest city in the country. It is awaiting the setup of the “La Halle French Tech”, which will back hundreds of startups. Touted to be the world’s second-largest startup incubator, it will start functioning by early 2020. Montpellier has witnessed 7 deals including that of Pepsia and Sim&Cure.
Lille is a city in northern France and this location is its main advantage as many European capital cities are easily reachable from here. Lille has numerous successful startups and incubators and is specialised in IoT, cybersecurity, data, and digital sectors. As per the report, in the second quarter of this year, Lille witnessed 6 deals including Straton IT and Vade Secure.
Bordeaux is an attractive city for both tourists and startups. With constant effort taken by organisations, local officials, and communities, the economic development of the city has developed to a great extent in recent years. Over the period of time mentioned here, Bordeaux witnessed 3 deals including the funding rounds of mySofie and BoatOn.
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