France – Strong Tech Hub Europe

A strong Tech hub in Europe, which country raised over 1.3 Bil Euros in VC investments in just 1 week?

Home to the Eiffel Tower, France says Bonjour to a string of mega funding rounds with 4 different Tech firms amounting to 1.3 Bil Euros all in the span of one week.

According to Sifted, an online news media, France already made its place with the unprecedented slate of nine-figure investment rounds in the first half of 2021 – This time, they raised their standards with 4 nine-figure rounds making the headlines.

The French digital minister, Cedric O. said, “In 48 hours, we [raised] as much as in the whole of 2015. What happened in the United States and in China is happening in Europe. We are entering into this innovation economy, which creates economic prosperity, job creation, and the ability to support major social and economic challenges.”

France has left no stone unturned to raise its profile as a hub for international investors to take seriously and 2021 just goes to validate how much the startup scene in France has evolved. Such large fundings rounds are a testament to the fact that investors believe in the potential of the French entrepreneurial scene.

H1 2021 saw startups bringing in 5.14 Bil Euros in France, almost equivalent to the 5.39 Bil Euros that France attracted in the whole of 2020.

These fundings also bring light to the variety and strength in to Tech ecosystem with sectors ranging from FinTech to SaaS to AI to Marketplaces.

Globally, investment in startups this year has soared on the heels of the accelerated digitalisation of business coupled with the aggressive entry of massive private and growth equity funds into the venture capital game. The short gap between funding rounds suggests a kind of land-grab mentality by founders and investors: Digital transformation is driving huge opportunities for companies that can get to a market first and dominate it.

At NAOS International, our senior consultants in Paris have been advising and hiring top talents for clients within the Tech space for over a decade. Reach out to our team for guidance on your hiring strategy.

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