PARIS--(BUSINESS WIRE)--A recently released report from market research firm CBInsights shows continued momentum for French Tech, with a quarterly record 180 deals closed in the first three months of 2017. The number of deals surpasses the previous quarterly high of 148 in Q3 2016 and shows impressive growth coming out of 2016 in which 139 deals were closed in Q4. The strong Q1 puts the French Tech ecosystem on track for an unprecedented investment year in 2017, building on its already record-setting year in 2016.
In terms of investment value, $551 million was invested in French Tech companies in Q1, the fourth-most capital invested on a quarterly basis since 2012. The CBInsights report projected total investment could surpass $2.2 billion in 2017, setting a new high-water mark after 2016’s $2.0 billion volume.
Highlights of Q1 included big data/cloud firm Oodrive Technologies closing a $70 million Series A round; online fashion community Vestaire Collective raising $62 million; and home exchange platform Guest to Guest closing $35 million in its Series B round. Nine other companies closed funding rounds in double-digit millions.
Overall, investment in internet companies led the way, with 62 percent of the total deals, followed by the mobile and telecoms sectors with 24 percent.
A diverse range of investors participated in the Q1 action, led by Bpifrance, MAIF Avenir and Kima Ventures being the most active. Renowned businessman Xavier Niel also continued his active investing in French Tech, putting money into startups such as Kaktus and Wistiki.
To access the full report, go here.
About La French Tech
La French Tech is a thriving community of diverse stakeholders from the French tech world (entrepreneurs, engineers, designers, investors, tech lovers, government agencies like Bpifrance and Business France) in all sectors (digital, biotech, medtech, fintech, etc.). Members of this community include champions such as BlaBlaCar, valued at €1.2 billion, or Sigfox and Devialet, which respectively raised €150 million and €100 million in 2016. Meanwhile, since 2013, €200 million of public funds have been invested in business incubators and accelerator programs throughout France to support our startup community even further.