The first quarter of 2022 saw a record amount of fundraising for French Tech, with amounts up 259% compared to the same period in 2021, according to a study published by consulting firm In Extenso Croissance.
A study, conducted by the subsidiary of the accounting group In Extenso, in partnership with ESSEC Business School, estimates that 5 billion euros were raised in the first three months of the year. This figure ranks France second in Europe in terms of investment in technology start-ups, behind the United Kingdom and ahead of Germany.
An average ticket on the rise
This increase in investments was substantially bolstered by the fundraising efforts of Back Market (€450 million), Qonto (€486 million) and Doctolib (€500 million). These amounts raised the average ticket to €21.3 million for 236 fundraisings over the period, representing a 21% increase in the number of transactions.
"The geopolitical situation, with ambiguous economic and financial consequences, does not seem to have had a visible impact in the first quarter," says Nicolas Landrin, executive director of the center for entrepreneurship and innovation at ESSEC business school, in a statement. On the contrary, the report suggests that the strains of the war in Ukraine are raising the need to invest in the development of an alternative energy system, as well as solutions for managing intermittency. This is evidenced by the strong momentum in CleanTech. The sector, described as having little impact on inflation, has raised €800 million since January. This amount includes the 150 million euro operation carried out in March by Deepki, a company specialized in the evaluation of environmental criteria in the real estate sector. In Extenso Croissance also highlights the vitality of the AgriTech and FoodTech sectors and predicts "a record year for French venture capital".
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