France has consistently proven itself as a major business hub, showcasing startup models that have stood out in Europe across sectors like HR, mobility, energy, and artificial intelligence.
Founded in 2003, the ride-sharing startup BlaBlaCar emerged when founder Frédéric Mazella struggled to find a ride to visit his family for Christmas. The company secured its first venture capital round in 2011 and has since expanded to markets such as the UK, Portugal, Spain, and the Netherlands. In 2014, it raised $100 million, followed by another $200 million round in 2015, raising its valuation to $1.6 billion. Now present in 22 countries, BlaBlaCar projects Brazil will become its most important global market starting in 2024.
France is also a pioneer in corporate benefits, with companies like Edenred and Sodexo originating there. Swile innovated in the sector by introducing flexible benefits and cards linked to widely accepted networks like Mastercard.
Founded less than five years ago, Swile quickly gained traction in the French market, attracting $200 million in funding from SoftBank in 2021, becoming a unicorn, and starting its international expansion into Brazil.
Starting its operations in 2011, Ynsect is an agritech company that transforms insects into alternative sources of protein. With over 377 patents across various categories, the company raised €160 million in investments last year and $372 million in 2021. The startup stands out for its “doing more with less” thesis, contributing to sustainability in the food sector.
Driveco is a pioneer in electric vehicle charging infrastructure in Europe. Founded in 2010, it operates over 8,000 charging points in France and has formed partnerships with giants like Carrefour. In 2022, it raised €250 million from Dutch fund APG to expand its network, with plans to have over 60,000 points across Europe by 2030, reducing CO2 emissions by 3 million tons.
In the field of artificial intelligence, Hugging Face is developing tools that help other startups create their applications. Valued at $4.5 billion, the company raised $235 million in funding in 2023, with investors including Google, Amazon, Nvidia, and Intel.
Verkor, an energytech based in Grenoble, raised $2.15 billion last year to fund its massive electric battery factory, marking the largest funding ever for a French startup. Founded four years ago, Verkor attracted giants with its sustainable battery technology, with Renault becoming one of its major partners, acquiring two-thirds of the new factory’s production capacity.
The year 2024 is special for France; in addition to hosting the Olympics, the country has also had an election. However, what has stood out most in recent years are its companies created to impact the world through services and technology.
