On the second term of 2018, funds raised by French startups added up to $995 million, which bring the year’s total to $1.846 billion. The record of 2017 will probably be smashed.
The new quarterly insights by CB Insight, dedicated to investments in startups, is out. It confirms that French Tech startups are soaring and convincing investors.
Almost one billion in one term. Are we headed for a $3.7-billion-year?
For the past four years, fundraising by French startups has rocketed. The year 2017 ended on a record $3,185 billion, all fundraising combined. The first three months on 2018 held high hopes with $851 million raised already. Enough to hope to exceed $3.4 billion.
But the second term, energized by some huge operations, blew expectations with $995 million. The first semester of 2018 reaches $1.846 billion. CB Insight foresees a total of $3.7 billion by the end of the year. This would be a 17% increase compared to 2017.
Voodoo leads the French fundraising
The outstanding fundraising by Voodoo ($200 million) represents 20% of this total. If you add up the four biggest operations (out of 187), it makes for 35% of the total amount raised. The other three are OpenClassroom ($60 million), Klaxoon ($50 million) and Back Market ($48 million).
Still, France is far behind the United Kingdom (which has already reached €2.7 billion in the second term) but holds its third place right behind Germany. However, vitality seems to be on this side of the Channel and hopes are high for French startups.