AI Dominates Fundraising in France, June Surpasses One Billion

AI Leads French Fundraising, June Surpasses One Billion

In June 2026, French startups reached a significant milestone by raising a total of 1.046 billion euros through 34 deals. This month was marked by three major fundraising rounds that contributed to this impressive sum. Throughout the first half of the year, companies specializing in artificial intelligence (AI) captured 2.132 billion euros, representing 50.02% of the total funds raised. This semester shows an increase compared to 2025, although the number of deals has decreased, indicating a concentration of investments in larger ticket sizes.

Evolution of the Number of Deals

After two months where fundraising was below 400 million euros, financing for French startups experienced a spectacular rise. In June, 34 deals raised 1.046 billion euros, compared to 391.95 million euros in May, with the same number of deals. Compared to June 2025, the amounts increased by 99.26%, although the number of fundraising rounds decreased from 51 to 34.

For the semester, the market shows signs of recovery, but not yet a return to abundance. French startups raised 4.261 billion euros in the first half of 2026, compared to 2.359 billion euros during the same period in 2025, marking an increase of 80.61%. This amount also exceeds that of the first half of 2024, which was 3.838 billion euros, and is slightly higher than 2023, with 4.154 billion euros. However, this recovery is characterized by a more restricted market: 215 deals have been recorded since January, compared to 252 in the first half of 2025, 365 in 2024, and 450 in 2023. Thus, while the amounts are high, they are concentrated among a smaller number of startups.

In June, the amount raised was significantly above the monthly average for the year, which stands at 710 million euros. However, this return above one billion does not indicate a homogeneous recovery. The three mega-rounds of the month, conducted by Alan, Bionyra Pharma, and Quobly, alone account for 735 million euros, or over 70% of the funds raised in June.

The average ticket size in June is 31 million euros, compared to 12 million euros in May and an average of 20 million euros for the semester. Without the three deals exceeding 100 million euros, the average ticket falls back to around 10 million euros. In terms of stages, seed rounds dominate in volume with 18 deals, but only represent 69 million euros. Series A rounds account for 447 million euros in 14 deals, while the two late-stage deals, Alan and InnovaFeed, total 531 million euros.

AI Slows Down in June, But Remains Predominant

Startups utilizing AI raised 127.4 million euros in June, spread across 12 deals. They thus represent 12.18% of the funds for the month, a relatively low share compared to the semester. Since January, AI startups have raised 2.132 billion euros in 75 deals, accounting for 50% of all funds raised by French startups.

This discrepancy can be explained by the composition of the month. The three largest fundraising rounds in June are not classified within the AI perimeter, which mechanically reduces its share in the amounts. However, AI continues to be a growth driver across various sectors, ranging from defense to software observability, human resources, fintech, legaltech, and industry.

Major AI Fundraising This Month

• Cherry Ventures
• Air Street Capital
• Harpoon Ventures
• General Catalyst
• Databricks Ventures
• Tomcat Ventures
• Founders Future
• Acadian Ventures
• Motier Ventures
• Force Over Mass Capital
• FDJ UNITED Ventures
• IMA PARTICIPATIONS
• Newfund Capital
• Connect Ventures
• Drysdale Ventures
• Bombelli Ventures

Leading Sectors: Insurtech, Biotech, Deeptech

The sector ranking for June is dominated by insurtech, with 480 million euros raised in a single operation, that of Alan. This sector far exceeds its monthly average for the semester, set at 105 million euros. In June 2025, insurtech had only totaled 25 million euros.

Biotech also had an exceptional month, with 191 million euros in June, compared to a monthly average of 62 million euros since January and 15 million euros in June 2025. Bionyra Pharma and InnovaFeed alone made this sector the second-largest contributor of the month.

Deeptech confirms its role as a pillar of the semester. With 177.4 million euros in June, it surpasses its monthly average of 129 million euros and exceeds its level from June 2025, which was limited to 25 million euros. The difference is due to Quobly, which raised 115 million euros, as well as the depth of the sector: eight deals were recorded this month.

Other sectors show more mixed results. Smart industry reaches 56 million euros, a level close to June 2025 but well above its monthly average for 2026. Conversely, IT, the leading sector of the semester with 1.041 billion euros raised since January, falls back to 31 million euros in June, far from its semester average, inflated by the AMI Labs round in March. Fintech, with 24.70 million euros, progresses compared to June 2025 but remains below its average pace for the semester.

Geographic Concentration of Investments

The geographic concentration of investments remains strong. In June, Île-de-France captured 869 million euros in 20 deals, accounting for over 83% of the funds raised. Paris represented 780 million euros in 17 deals, thanks notably to Alan, Bionyra Pharma, and InnovaFeed. Île-de-France outside Paris totaled 89.20 million euros in 3 deals, with a notable point: the three startups involved, Alta Ares, Tsuga, and Finovox, are classified within the AI perimeter.

Auvergne-Rhône-Alpes comes in a distant second but had a solid month with 150 million euros in 4 deals, primarily thanks to Quobly. Other regions appear more through capillarity than through large tickets: 10.2 million euros for Occitanie, 9.5 million euros for Nouvelle-Aquitaine, 3.9 million euros for Hauts-de-France, and 3.6 million euros for Brittany.

Overall Ranking of June Fundraising

• Teachers' Venture Growth
• Sofinnova Partners
• Sanofi Ventures
• Sixty Degree Capital
• Apollo Health Ventures
• STMicroelectronics
• Qatar Investment Authority
• Archer Daniels Midland
• Frenchfood Capital
• Cherry Ventures
• Air Street Capital
• Harpoon Ventures
• Blossom Capital
• Expeditions Fund
• General Catalyst
• Databricks Ventures
• Noria investissement
• Navitas Semiconductor
• Yotta Capital Partners