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French startups raised €351 million in November 2020

After a good September and October, the financing of French start-ups slowed down in November. They raised €351 million, 52% less funding than in October (€678 million raised), but 24% more than in the same period last year (€284 million raised in November 2019). The most successful sectors for investors were adtech/martech/publishers, with €60 million raised, followed by biotech (€14.5 million raised) and fintech (€13.5 million).

The largest deal this month was for Innovafeed. The start-up, which designs vertical farms in which it raises insects for animal feed, raised €70 million in capital from Singapore’s sovereign wealth fund Temasek, as well as Creadev. Second on the podium, the social network based on video chat groups Yubo raised €40 million, notably to expand in Asia and improve its moderation. Second ex-aequo with also 40 million euros raised, the medical teleconsultation platform Medadom. Its specificity: It develops connected terminals deployed in pharmacies that allow for more sophisticated teleconsultation than on a smartphone, thanks to a number of different technologies.Its specificity: it develops connected terminals deployed in pharmacies that allow for more sophisticated teleconsultation than on a smartphone thanks to several integrated medical devices such as a thermometer or a stethoscope.

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