According to an interview I read recently conducted on the Verve Ventures blog, Philippe Tramoy from Seventure Partners, a Paris-based venture capital firm seeking to fund innovation among digital technology and life science companies, stated “foreign investments in French deep tech companies are on the rise.”
So, I checked. And it’s true. To enlighten the Deep Tech Insider’s readership, I’ll now run through seven that have some very interesting things going on.
Founded in 2017 by Bruno Maisonnier, AnotherBrain is a startup developing a powerful new approach to AI called Organic AI — a bio-inspired, low-energy and human-friendly technology very close to the functioning of the human brain.
To date, the Paris-based company has raised a total of €32.5 million in funding over three rounds to assist the development of its self-learning AI to ultimately boost outcomes in sectors like the automotive industry and industrial automation, healthcare, smart homes, and smart cities.
Having raised an impressive €40 million in funding over four rounds since its founding — with the latest, an €18-million Series B round led OGCI Climate Investments in July of this year — METRON, a CleanTech startup specialized in energy efficiency and improvement of industrial performance by leveraging the power of AI and big data to usher a new wave of innovation in the energy sector, has the financial backing required to make a huge impact on its sector.
METRON was founded by Vincent Sciandra and David Tagliabue back in 2013.
Clustree is a female-founded startup whose AI Career Coach leverages bias-free algorithms and ML to detect employees’ skills and competencies and automatically recommends tailor-made internal job opportunities, training courses, mentors or career paths throughout their professional journey.
When it comes to financing, the pioneer in AI applied to HR — founded in 2014 by tech entrepreneur and angel investor Bénédicte de Raphélis Soissan — has raised a total of $11.6 million in funding over three rounds.
4. Monk AI
Co-founders Abou Laraki and Faycal Slaoui set up Monk AI, a startup delivering state-of-the-art computer vision solutions for the automotive, insurance and mobility markets, in 2019. Its computer vision and AI solution offer the possibility for Monk AI’s customers to assess the condition of their vehicles based on pictures from smartphones or fixed cameras.
In 2020, the Paris-based visual intelligence technology startup raised €2.1 million in a Seed round led by Iris Capital.
5. Fuzzy Logic Robotics
Along with a funky name comes a revolutionary way people interact with and use industrial robots. Fuzzy Logic Robotics, founded in 2018 by Ryan Lober and Antoine Hoarau with headquarters in Paris, employs flexible manufacturing to design universal control algorithms and ultra-intuitive user interfaces, making industrial robot programming fast, efficient, and cost-effective for the low volume, high mix production demands of agile manufacturing, ultimately reducing clients’ integration costs and robot programming time to accelerate turnaround and increase throughput.
In September of this year, Fuzzy Logic Robotics raised €2.5 million in a Seed round.
Computer vision startup XXII (pronounced “Twenty Two” for all those whose knowledge of Roman numerals is patchy) develops and markets to public and private sectors a SaaS platform for real-time video stream analysis. Its XXII CORE software platform allows for real-time analysis of video streams from cameras already installed in cities and private sites.
The Paris-based startup was founded in 2015 by William Eldin.
With all the recent news on the COP26 summit in Glasgow making the headlines, I thought it would be relevant to mention Dioxycle, a startup developing electrolyzer solutions for carbon dioxide emissions, and along with METRON, are using Deep Tech approaches to try and do something about the grave state of our planet.
Founded by David Wakerley and Sarah Lamaison this year, Dioxycle uses cutting-edge technology and groundbreaking research to provide a way to capture and converts carbon dioxide (Greta smiles) and generate valuable chemical products.