The party is over. After two years of euphoria, exceptional fundraising and the pink book of French technology, complete with the birth of about twenty unicorns in eighteen months (these companies are valued at more than 1 billion euros), the return to earth is sometimes violent.
Funding is becoming rarer, investors are more careful. “Cyclical reversal is strong” summarizes Paul-Francois Fournier, Innovation Director of Bpifrance. France is suffering the effects of the global economic crisis and rising interest rates, even if the consequences for local tech players are far less severe than in the United States.
The change is not visible at first glance. Since the beginning of the year, French startups have indeed raised more than $13 billion, which is 17% better than last year, according to EY. This absolute record, exclusive after 2021, should not obscure the more complex reality. If 2022 started…
Source: Le Figaro
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.