France ranked third in Europe with €8.7B in tech funding in 2025, led by AI, fintech and energy. Here are the 10 largest raises of the year.
European technology investment reached €72 billion in 2025, the second-strongest year of the past three, underscoring the sector’s resilience despite a 3.2 percent decline from 2024’s peak.
Within that landscape, France remained one of Europe’s pivotal tech markets, ranking third with €8.7 billion raised — behind the United Kingdom (€21.5 billion) and Germany (€11.5 billion). Several large late-stage financings in artificial intelligence, energy and deep tech buoyed the total.
Artificial intelligence dominated the French funding environment. While one outsized round significantly lifted aggregate figures, a series of mid-sized investments signaled sustained investor conviction across maturity stages.
Fintech continued to attract substantial capital, supported in part by debt facilities and later-stage rounds. Software investment was spread across multiple transactions, while gaming activity was largely shaped by one major financing. Energy drew backing for electric-vehicle charging and hydrogen infrastructure, with cleantech and security maintaining steady — if more moderate — momentum.
Capital deployment remained concentrated. A handful of very large rounds drove totals, complemented by a broader base of mid-sized financings across industries.
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Below are the 10 largest tech fundraises in France in 2025.
1. Mistral AI
Amount raised: €1.7 billion
Mistral AI develops generative AI models and tools that enable organizations to build, customize and deploy large language models, assistants and autonomous agents for search, coding, automation and data processing.
In 2025, the company raised €1.7 billion, more than doubling its valuation to approximately €11.7 billion. ASML took a significant stake as part of a strategic partnership.
2. Ubisoft
Amount raised: $1.25 billion
Ubisoft develops and publishes video games for console, PC and online platforms, with franchises including Assassin’s Creed, Far Cry and Tom Clancy’s.
In 2025, the company raised $1.25 billion to support core game development operations and long-term content production.
3. Brevo
Amount raised: €500 million
Brevo provides an all-in-one customer engagement platform combining email and SMS marketing, automation, CRM and transactional messaging.
In 2025, Brevo became a unicorn after raising €500 million in a round led by General Atlantic and Oakley Capital.
4. Electra
Amount raised: €433 million
Electra designs and operates ultra-fast charging stations for electric vehicles across Europe.
In 2025, it secured a green loan facility of up to €433 million, bringing total funding since inception to more than €1 billion.
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5. Younited
Amount raised: €400 million
Younited is a digital credit institution offering consumer lending and embedded payment solutions across Europe.
In 2025, it secured a €400 million warehouse facility from Citi to expand its consumer credit operations.
6. HoloSolis
Amount raised: €220 million
HoloSolis is developing one of Europe’s largest photovoltaic manufacturing facilities to strengthen regional energy sovereignty.
In 2025, it secured €220 million to build one of Europe’s largest solar factories.
7. Lhyfe
Amount raised: €149 million
Lhyfe produces green hydrogen for mobility and industrial uses.
In 2025, it secured a €149 million grant from the French government for a hydrogen production plant near the Grand Canal of Le Havre.
8. Alice & Bob
Amount raised: €100 million
Alice & Bob develops fault-tolerant quantum computers using its proprietary cat-qubit architecture.
In 2025, it raised €100 million to accelerate development and advance its roadmap toward a commercially useful quantum computer by 2030.
9. WAAT
Amount raised: €100 million
WAAT installs and operates turnkey EV charging infrastructure, primarily for residential and workplace settings.
In 2025, it raised €100 million to accelerate expansion in France and across Europe.
10. Flowdesk
Amount raised: $102 million
Flowdesk provides market making, OTC trading and digital asset infrastructure for Web3 and institutional clients.
In 2025, it raised $102 million to support global expansion and meet growing demand for liquidity and brokerage services.
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Taken together, the year’s largest rounds underscore a defining theme: France’s technology sector is increasingly anchored by capital-intensive, infrastructure-scale bets — in AI, energy and advanced computing — even as a broader base of mid-sized companies continues to attract sustained investor support.
