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French startups raised €678 million in October 2020

French start-ups raised nearly €679 million in venture capital investments in October through 64 deals. This represents a 15% increase in funds raised compared to the previous month (EUR 588 million raised in September) and 54% more than in the same month of the previous year.588 million raised in September) and 54% more than at the same time last year (€440 million raised in October 2019). The most popular sectors this month are biotech, with €236 million raised, followed by adtech / martech / publishers (€174.5 million raised), then fintech (€55.4 million).

The biggest round of the month was raised by Ÿnsect, which raised $224 million (€190 million) for its insect farm, which turns insects into food proteins for animals and plants. In second place, Sendinblue, a specialist in digital marketing tools for SMEs, raised €140 million from Bridgepoint Development and Bpifrance. Third on the podium, microLED screen manufacturer Aledia raised €80 million in series D, notably from Bpifrance’s SPI fund, which is putting €60 million into the pot.

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