<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[anti dealflow]]></title><description><![CDATA[Montants, tendances et dynamique early-stage des startups 🇫🇷]]></description><link>https://www.anti-dealflow.com</link><image><url>https://substackcdn.com/image/fetch/$s_!pqUM!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F521631e9-ea5a-4e8b-bd2d-56bdd9ea7f5b_1280x1280.png</url><title>anti dealflow</title><link>https://www.anti-dealflow.com</link></image><generator>Substack</generator><lastBuildDate>Mon, 20 Jul 2026 09:17:35 GMT</lastBuildDate><atom:link href="https://www.anti-dealflow.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[anti-dealflow]]></copyright><language><![CDATA[fr]]></language><webMaster><![CDATA[antidealflow@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[antidealflow@substack.com]]></itunes:email><itunes:name><![CDATA[anti-dealflow]]></itunes:name></itunes:owner><itunes:author><![CDATA[anti-dealflow]]></itunes:author><googleplay:owner><![CDATA[antidealflow@substack.com]]></googleplay:owner><googleplay:email><![CDATA[antidealflow@substack.com]]></googleplay:email><googleplay:author><![CDATA[anti-dealflow]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[Levées de fonds de la semaine 29 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-29</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-29</guid><pubDate>Mon, 20 Jul 2026 05:30:50 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/a43c8cbb-1840-4848-97a0-e87998a88e72_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 29&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont l<strong>ev&#233; 52,7 millions d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>5 op&#233;rations</strong>, soit un <strong>ticket moyen de 10,5 millions d&#8217;euros</strong>. Le niveau reste port&#233; par deux tours significatifs en &#233;conomie circulaire et ConTech, qui concentrent &#224; eux seuls plus de 82 % des montants lev&#233;s.</p><p>La physionomie de la semaine est marqu&#233;e par Syntetica (26,2 M&#8364;, Circular Economy), NeoCem (17 M&#8364;, ConTech) et Engo (5,1 M&#8364;, DeepTech). Derri&#232;re ce trio de t&#234;te, le reste du flux se r&#233;partit entre 2,5 M&#8364; et 1,9 M&#8364; sur les secteurs Logistics et IT.</p><p>L&#8217;IA reste plus en retrait dans cette &#233;dition, avec 1,9 M&#8364; lev&#233;s, ce qui repr&#233;sente 3,6 % des montants lev&#233;s.</p><div><hr></div><h2 style="text-align: center;">Insight de la semaine</h2><p>Le signal de la semaine s&#8217;articule autour de la consolidation dans la fintech et les logiciels m&#233;tier. L&#8217;offre conjointe de Stripe, Advent et Block sur PayPal, combin&#233;e au virage de PayFit vers une plateforme RH plus large, illustre une m&#234;me logique : la valeur se concentre de plus en plus sur les plateformes capables soit d&#8217;agr&#233;ger plusieurs usages, soit de devenir des briques indispensables dans une stack plus large.</p><p>Cette lecture &#233;claire aussi le dealflow de la semaine. NeoCem dans les mat&#233;riaux bas carbone, Syntetica dans le recyclage du nylon ou encore Stracker dans la logistique montrent que les investisseurs continuent de financer des actifs tr&#232;s op&#233;rationnels, ins&#233;r&#233;s dans des cha&#238;nes de valeur industrielles concr&#232;tes.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Syntetica &#183; S&#233;rie A &#183; 26,2 M&#8364; &#183; Circular Economy</strong><br>Syntetica d&#233;veloppe un proc&#233;d&#233; de d&#233;polym&#233;risation chimique du nylon permettant aux acteurs de la mode, du sportswear et de l&#8217;automobile de r&#233;cup&#233;rer et r&#233;utiliser du nylon de haute qualit&#233; &#224; partir de d&#233;chets textiles mixtes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bpifrance, European Innovation Council, MAS Holdings, SWEN Capital Partners, Lululemon</p><div><hr></div><p><strong>NeoCem &#183; S&#233;rie B &#183; 17 M&#8364; &#183; ConTech</strong><br>NeoCem d&#233;veloppe un ciment bas carbone permettant aux acteurs de la construction et des infrastructures de r&#233;duire leurs &#233;missions de CO2 gr&#226;ce &#224; un proc&#233;d&#233; brevet&#233; de flash-calcination transformant des argiles de d&#233;construction recycl&#233;es en liant cimentaire haute performance.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Cr&#233;dit Mutuel Impact, Rev3 Capital, Nord France Amor&#231;age, Finorpa, Cb Green</p><div><hr></div><p><strong>Engo &#183; Amor&#231;age &#183; 5,1 M&#8364; &#183; DeepTech</strong><br>Engo d&#233;veloppe des lunettes connect&#233;es destin&#233;es aux sportifs.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Ventech, Odyss&#233;e Ventures, Bpifrance Amor&#231;age Industriel</p><div><hr></div><p><strong>Stracker &#183; Amor&#231;age &#183; 2,5 M&#8364; &#183; Logistics</strong><br>Stracker d&#233;veloppe une plateforme digitale de freight forwarding permettant aux industriels d&#8217;organiser et de suivre leurs exp&#233;ditions internationales critiques et urgentes via une solution logistique par abonnement, sans commission.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Blast Club, Bpifrance</p><div><hr></div><p><strong>Mio &#183; Stade non communiqu&#233; &#183; 1,9 M&#8364; &#183; IT</strong><br>Mio d&#233;veloppe un coll&#232;gue IA qui vit sur Slack.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Fabric Ventures, Topology VC</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" 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data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-29?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-29?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[🗞️ Le tour de table de la semaine 28]]></title><description><![CDATA[Actualit&#233;s, nouveaut&#233;s techs, tendances early-stage : retrouvez chaque vendredi le tour de table de la semaine]]></description><link>https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-28</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-28</guid><pubDate>Fri, 17 Jul 2026 18:19:14 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/9bf29c90-bdcb-4e77-90ab-04b9ffaa41e6_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gIyR!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gIyR!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:44351,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!gIyR!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Onze ans. C&#8217;est le temps qu&#8217;il a fallu &#224; PayFit pour atteindre la rentabilit&#233;, aux c&#244;t&#233;s de Skello, Doctolib et Back Market dans la vague des licornes fran&#231;aises qui tournent le dos &#224; la croissance &#224; tout prix.</p><p>Huit heures. C&#8217;est le temps qu&#8217;a dur&#233; le fonds de 200 millions d&#8217;euros de Yann LeCun : annonc&#233; vendredi matin, ferm&#233; vendredi soir pour &#8220;relations d&#8217;exclusivit&#233;&#8221; non pr&#233;cis&#233;es.</p><p>Seize jours. C&#8217;est ce qui nous s&#233;pare du 2 ao&#251;t, date &#224; laquelle l&#8217;AI Office europ&#233;en active ses premiers pouvoirs de sanction. </p><div><hr></div><h4 style="text-align: center;">Au programme</h4><ul><li><p><strong>Deep Dive</strong> : seize jours avant que l'Europe sanctionne l'IA</p></li><li><p><strong>L&#8217;Expresso</strong> : un fonds de VC boucl&#233; en huit heures</p></li><li><p><strong>Equity Story</strong> : onze ans, une transformation, une nouvelle ligne de d&#233;part</p></li><li><p><strong>Side Pocket</strong> : des cr&#233;dits IA pour remplacer son seed</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!DUxe!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>Seize jours avant le coup de sifflet r&#233;glementaire</strong></p><p>Le 2 ao&#251;t 2026, l&#8217;AI Office europ&#233;en activera ses premiers pouvoirs de sanction sur les fournisseurs de mod&#232;les d&#8217;IA &#224; usage g&#233;n&#233;ral, les GPAI dans le langage de l&#8217;AI Act. Seront concern&#233;s tous les acteurs qui d&#233;veloppent des mod&#232;les pouvant &#234;tre utilis&#233;s dans une grande vari&#233;t&#233; d&#8217;usages : OpenAI, Anthropic, Google, Mistral. D&#232;s cette date, l&#8217;AI Office peut ouvrir des proc&#233;dures, demander des documents et, au terme d&#8217;une instruction, infliger des amendes pouvant atteindre 3 % du chiffre d&#8217;affaires mondial.</p><p>Les obligations qui entrent en vigueur portent sur trois axes. La documentation et la transparence d&#8217;abord : les fournisseurs de GPAI doivent publier un r&#233;sum&#233; des donn&#233;es d&#8217;entra&#238;nement, suffisamment d&#233;taill&#233; pour que des tiers puissent &#233;valuer les risques de violation de droits d&#8217;auteur. La conformit&#233; aux droits d&#8217;auteur ensuite : les mod&#232;les entra&#238;n&#233;s sur du contenu prot&#233;g&#233; sans licence explicite seront dans le viseur. Le signalement des incidents enfin : toute violation de s&#233;curit&#233; grave impliquant un GPAI devra &#234;tre notifi&#233;e &#224; l&#8217;AI Office dans les soixante-douze heures.</p><p>Pour les laboratoires am&#233;ricains, l&#8217;&#233;ch&#233;ance arrive dans un contexte singulier. Ils g&#232;rent simultan&#233;ment les restrictions d&#8217;export impos&#233;es par Washington sur leurs mod&#232;les les plus avanc&#233;s et un cadre r&#233;glementaire europ&#233;en qui exige une transparence que leurs architectures closed-source ne respectent pas naturellement. Mistral se retrouve avec un avantage structurel rare : architecturalement con&#231;ue pour la conformit&#233; europ&#233;enne, d&#233;velopp&#233;e sur le sol europ&#233;en, souveraine par construction.</p><p>Le timing de Naaia n&#8217;est pas anodin dans ce contexte. La startup parisienne qui aide les grandes entreprises &#224; se conformer &#224; l&#8217;AI Act a lev&#233; une S&#233;rie A de 6 M&#8364; aupr&#232;s de Ventech cette semaine. &#8220;La conformit&#233; et l&#8217;auditabilit&#233; sont un pr&#233;-requis critique au d&#233;ploiement massif d&#8217;agents IA en entreprise&#8221;, a d&#233;clar&#233; Jean Bourcereau, managing partner de Ventech. La r&#233;glementation produit ses march&#233;s. Avec J-16, le premier s&#8217;ouvre pour de bon.</p><div><hr></div><h5 style="text-align: center;"><span data-color="#3c414d" style="color: rgb(60, 65, 77);">Partenaire du jour</span></h5><h4 style="text-align: center;">Votre prochaine lev&#233;e se pr&#233;pare d&#232;s aujourd&#8217;hui</h4><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Qore!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Qore!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Qore!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!Qore!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Qore!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Produit, recrutement, clients, et entre deux rendez-vous commerciaux, il faut aussi penser &#224; la tr&#233;sorerie, pr&#233;parer le prochain tour de table, et r&#233;pondre aux questions du banquier. La finance reste souvent la variable d&#8217;ajustement, trait&#233;e dans l&#8217;urgence plut&#244;t qu&#8217;anticip&#233;e.</p><p>C&#8217;est pr&#233;cis&#233;ment l&#224; qu&#8217;intervient Segrea Partners.</p><p><strong>Accompagnement lev&#233;e de fonds :</strong> de la structuration du dossier jusqu&#8217;au closing, Segrea Partners &#233;paule les startups early-stage dans leurs op&#233;rations de lev&#233;e de fonds early-stage.</p><ul><li><p><strong>Objectif</strong> : s&#233;curiser l&#8217;op&#233;ration sans y laisser six mois de roadmap produit.</p></li></ul><p><strong>Compl&#233;ments bancaires :</strong> une lev&#233;e en equity ne couvre pas tout, et emprunter dilue moins que lever. Segrea Partners structure les financements bancaires compl&#233;mentaires, pour construire un mix capital et dette plus efficace qu&#8217;une d&#233;pendance totale &#224; l&#8217;equity.</p><p><strong>Direction financi&#232;re &#224; temps partag&#233; :</strong> une startup n&#8217;a pas besoin d&#8217;un CFO &#224; temps plein d&#232;s le d&#233;but. Segrea Partners propose un service de direction financi&#232;re quelques jours par mois : reporting investisseurs, structuration financi&#232;re, pilotage de la tr&#233;sorerie.</p><ul><li><p>Pour gagner en souplesse op&#233;rationnelle, sans le co&#251;t ni l&#8217;engagement d&#8217;un recrutement &#224; temps plein.</p></li></ul><p><strong>Vous investissez en startup ?</strong></p><p>Segrea Partners construit aussi un r&#233;seau d&#8217;investisseurs early-stage. Si vous &#234;tes business angel ou investisseur actif, contactez-nous pour rejoindre le r&#233;seau et acc&#233;der aux dossiers accompagn&#233;s par Segrea Partners.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contacter Segrea Partners&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.segrea-partners.com/contact"><span>Contacter Segrea Partners</span></a></p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!80Wb!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!80Wb!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!80Wb!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>&#127970; Skello (lev&#233;e de 200 M&#8364;, Bridgepoint) :</strong> dix ans apr&#232;s sa fondation par Quitterie Mathelin-Moreaux et Emmanuelle Fauchier-Magnan, la HR tech accueille Bridgepoint Development Capital &#224; son capital, avec r&#233;investissement de Partech et XAnge. La soci&#233;t&#233; g&#232;re les plannings et la paie des &#233;quipes terrain pour 30 000 entreprises et 700 000 utilisateurs quotidiens dans quatre pays europ&#233;ens. Profitable depuis 2025, au-dessus de 50 M&#8364; d&#8217;ARR, 100 recrutements pr&#233;vus en 2026. Les fonds serviront &#224; une strat&#233;gie de croissance externe en Europe. Macron a salu&#233; l&#8217;op&#233;ration sur LinkedIn : &#8220;une belle op&#233;ration pour la tech fran&#231;aise, au f&#233;minin.&#8221;</p><p><strong>&#9203; Le fonds VC de Yann LeCun a v&#233;cu huit heures :</strong> vendredi 11 juillet, Sifted r&#233;v&#232;le qu&#8217;un nouveau fonds de 200 millions d&#8217;euros, Extelligence Invest, vient de se lancer avec Yann LeCun comme &#8220;general partner non-manager&#8221;. Cibles d&#233;clar&#233;es : IA, data infrastructure, sant&#233;, robotique. Huit heures plus tard, le site est hors ligne, LeCun s&#8217;est retir&#233;, et le fonds a annonc&#233; sa fermeture en &#233;voquant des &#8220;relations d&#8217;exclusivit&#233;&#8221; non pr&#233;cis&#233;es. Les noms des partenaires et les 29 soci&#233;t&#233;s list&#233;es en portfolio ont disparu avec lui. Pour le fondateur d&#8217;AMI Labs, qui avait lev&#233; plus d&#8217;un milliard de dollars en mars, c&#8217;est un &#233;pisode que les annales retiendront surtout pour sa bri&#232;vet&#233;.</p><p><strong>&#127466;&#127482; l&#8217;Europe parie 80 milliards sur ses champions tech :</strong> la Banque europ&#233;enne d&#8217;investissement, les 27 &#201;tats membres et plusieurs investisseurs institutionnels ont lanc&#233; vendredi 10 juillet la deuxi&#232;me phase de l&#8217;Initiative Champions Technologiques Europ&#233;ens. Objectif : lever 15 milliards d&#8217;euros en fonds de fonds pour mobiliser jusqu&#8217;&#224; 80 milliards d&#8217;investissements via l&#8217;effet de levier public-priv&#233;, au profit de plus de 1 500 startups tech europ&#233;ennes. ICTE 2.0 pr&#233;voit 100 fonds dont 45 m&#233;ga-fonds capables d&#8217;investir en moyenne 200 M&#8364; par entreprise. La phase 1 avait soutenu 15 m&#233;ga-fonds et accompagn&#233; l&#8217;&#233;mergence de 12 licornes. Une ambition quatre fois plus grande.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2PuH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>PayFit : onze ans, une transformation, une nouvelle ligne de d&#233;part</strong></p><p>PayFit est entr&#233;e dans le club des licornes fran&#231;aises en 2022 avec 254 millions d&#8217;euros lev&#233;s et une valorisation de 1,8 milliard d&#8217;euros. Deux ann&#233;es difficiles ont suivi, avec des licenciements et une transformation strat&#233;gique profonde. Jeudi 16 juillet, Firmin Zocchetto annonce la rentabilit&#233;. Onze ans pour franchir ce cap.</p><p>L&#8217;annonce vient avec un pivot produit simultan&#233;. PayFit quitte le logiciel de paie pour devenir une plateforme RH compl&#232;te augment&#233;e par l&#8217;IA. Nouveaux modules attendus en 2026 : gestion de la mutuelle et de la pr&#233;voyance, suivi des &#233;quipements, gestion des freelances. L&#8217;outil PayFit AI est au c&#339;ur du dispositif : il d&#233;tecte les incoh&#233;rences de paie, g&#233;n&#232;re des analyses RH &#224; la demande, int&#232;gre les variables directement. D&#8217;ici fin 2026, les arr&#234;ts maladie et les contrats passeront aussi par lui.</p><p>Firmin Zocchetto a r&#233;sum&#233; l&#8217;ambition dans une formule qu&#8217;on retiendra : &#8220;Je vois la rentabilit&#233; comme un point de passage plut&#244;t qu&#8217;une fin en soi. C&#8217;est comme une nouvelle ligne de d&#233;part.&#8221; La diff&#233;renciation par l&#8217;IA reste difficilement copiable &#224; court terme face &#224; Silae en France et aux acteurs RH allemands &#233;tablis, &#224; condition de prendre de l&#8217;avance.</p><p>PayFit affiche 80 M&#8364; d&#8217;ARR, 85 % venus de France, et vise 150 M&#8364; d&#8217;ARR pour 2028. La bo&#238;te rejoint la liste des licornes fran&#231;aises rentables depuis 2022 : Doctolib, Back Market, Withings, Skello. Cinq en quatre ans. De toutes, PayFit avait eu la trajectoire post-unicorn la plus mouvement&#233;e. Ce contexte rend l&#8217;annonce d&#8217;autant plus symbolique.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gJPC!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2198530,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Fun fact :</strong> OpenAI, Anthropic et plusieurs laboratoires IA distribuent jusqu&#8217;&#224; 3 millions de dollars en cr&#233;dits compute aux jeunes startups, sous forme de rabais massifs sur leurs APIs. Plusieurs fondateurs ont re&#231;u des packages dont la valeur &#233;quivaut &#224; un tour d&#8217;amor&#231;age sans dilution. Ces cr&#233;dits remplissent deux fonctions : soutenir des fondateurs sans tr&#233;sorerie face &#224; des besoins en calcul r&#233;els, et cr&#233;er une d&#233;pendance &#224; leur infrastructure d&#232;s les premi&#232;res lignes de code. La ligne entre la g&#233;n&#233;rosit&#233; et la fid&#233;lisation commence &#224; se brouiller.</p><p><strong>Le chiffre :</strong> cinq licornes fran&#231;aises ont annonc&#233; leur rentabilit&#233; depuis 2022 : Doctolib, Back Market, Withings, Skello en 2025 et PayFit cette semaine. Un chiffre qui traduit une bascule dans l&#8217;&#233;cosyst&#232;me startup fran&#231;ais : les financements plus s&#233;lectifs de 2023 et 2024 ont forc&#233; une discipline op&#233;rationnelle que les fondateurs eux-m&#234;mes reconnaissent d&#233;sormais comme saine. Cinq licornes rentables en quatre ans, c&#8217;est plus qu&#8217;un alignement des plan&#232;tes.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!eI0l!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 848w, 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2996625,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><ul><li><p>Apple a d&#233;pos&#233; plainte contre OpenAI, l&#8217;accusant d&#8217;avoir d&#233;bauch&#233; des salari&#233;s pour s&#8217;approprier des secrets industriels et des conceptions de produits dans l&#8217;objectif de d&#233;velopper son propre hardware IA.</p></li></ul><ul><li><p>OpenAI a ferm&#233; ChatGPT Atlas, son agent navigateur autonome lanc&#233; en octobre dernier, dans le cadre d&#8217;une restructuration de son offre ChatGPT Work.</p></li><li><p>GPT-5.6 est accessible depuis cette semaine en &#8220;aper&#231;u limit&#233;&#8221; aupr&#232;s d&#8217;un groupe restreint d&#8217;organisations agr&#233;&#233;es, apr&#232;s son blocage r&#233;glementaire de fin juin.</p></li><li><p>Tesla a livr&#233; 480 126 v&#233;hicules au deuxi&#232;me trimestre 2026, d&#233;passant les attentes des analystes, dans un contexte de reprise apr&#232;s deux trimestres difficiles.</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Xuet!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Xuet!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" 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Un abonnement, un partage. Simple, efficace !</p><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne fin de semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-28?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-28?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 28 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-28</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-28</guid><pubDate>Mon, 13 Jul 2026 05:30:51 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/f65da5b5-d0ce-486a-a070-dffb0b2aed67_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 28&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont lev&#233; <strong>118,4 millions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>11 op&#233;rations</strong>, soit un <strong>ticket moyen de 10,8 millions d&#8217;euros</strong>. Le niveau est port&#233; par trois tours majeurs en BioTech et AI, qui structurent l&#8217;essentiel du haut de tableau.</p><p>La physionomie de la semaine est marqu&#233;e par Cyllene Therapeutics (33 M&#8364;, BioTech), Gradium (26,3 M&#8364;, AI) et ZML (18,6 M&#8364;, AI). Derri&#232;re ce trio de t&#234;te, le reste du flux se r&#233;partit entre 10 M&#8364; et 1,5 M&#8364; sur les secteurs suivants : CleanTech, FinTech, RegTech, Silver Economy, BioTech, AI, MedTech et PropTech.</p><p>L&#8217;IA reste au c&#339;ur de cette dynamique avec <strong>66,8 millions d&#8217;euros lev&#233;s</strong>, ce qui repr&#233;sente 56,4 % des montants lev&#233;s.</p><div><hr></div><h3 style="text-align: center;">Insight de la semaine</h3><p>Alors que Mistral pousse d&#233;sormais sa strat&#233;gie vers la robotique et la physical AI avec Robostral Navigate, une partie croissante de la cha&#238;ne de valeur se d&#233;place vers les briques qui permettront aux syst&#232;mes intelligents de fonctionner dans le monde r&#233;el : frameworks, orchestration, simulation, navigation, inf&#233;rence et collecte de donn&#233;es embarqu&#233;es.</p><p>Ce point est central, car dans la robotique comme dans les agents logiciels, la raret&#233; ne vient plus seulement du compute. Elle vient aussi de l&#8217;acc&#232;s aux donn&#233;es r&#233;elles, aux environnements de d&#233;ploiement et aux outils capables de transformer l&#8217;IA en infrastructure exploitable &#224; grande &#233;chelle. ZML, Gradium, Naaia ou Panora s&#8217;inscrivent chacun, &#224; leur niveau, dans cette logique de couche outill&#233;e plut&#244;t que de simple application finale.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Cyllene Therapeutics &#183; S&#233;rie C &#183; 33 M&#8364; &#183; BioTech</strong><br>Cyllene Therapeutics d&#233;veloppe une approche de th&#233;rapie g&#233;nique de pr&#233;cision, destin&#233;e au traitement de maladies chroniques s&#233;v&#232;res localis&#233;es, en particulier celles qui affectent le syst&#232;me nerveux p&#233;riph&#233;rique.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bpifrance, M Ventures, Andera Partners, GordonMD Global Investment</p><div><hr></div><p><strong>Gradium &#183; Amor&#231;age &#183; 26,3 M&#8364; &#183; AI</strong><br>Gradium d&#233;veloppe des mod&#232;les de langage audio &#224; tr&#232;s faible latence permettant aux d&#233;veloppeurs et aux entreprises de cr&#233;er des applications vocales temps r&#233;el, de la synth&#232;se vocale &#224; la traduction parl&#233;e.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Nvidia, Business Angels</p><div><hr></div><p><strong>ZML &#183; Amor&#231;age &#183; 18,6 M&#8364; &#183; AI</strong><br>ZML d&#233;veloppe un framework IA haute performance, modulaire, agnostique au hardware et sans d&#233;pendance &#224; Python, afin de faciliter le d&#233;ploiement de mod&#232;les sur diff&#233;rents environnements techniques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Kima Ventures, LocalGlobe, The Twenty Minute VC, Business Angels</p><div><hr></div><p><strong>Bohr Energie &#183; S&#233;rie A &#183; 10 M&#8364; &#183; CleanTech</strong><br>Bohr Energie d&#233;veloppe une plateforme d&#8217;agr&#233;gation et d&#8217;optimisation multi-&#233;nergies permettant aux producteurs ind&#233;pendants d&#8217;&#233;lectricit&#233; renouvelable de mieux valoriser leur production sur les march&#233;s de gros gr&#226;ce &#224; des outils de pr&#233;vision et de trading.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Suma Capital, Irdi Capital Investissement, GSO Capital, Cr&#233;dit Agricole</p><div><hr></div><p><strong>Aria &#183; S&#233;rie A &#183; 7 M&#8364; &#183; FinTech</strong><br>Aria d&#233;veloppe une infrastructure de financement instantan&#233; int&#233;grable par API, permettant aux entreprises de mieux piloter leurs d&#233;lais de paiement et de soutenir leur croissance avec une tr&#233;sorerie plus saine.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> 13books Capital, 115K</p><div><hr></div><p><strong>Naaia &#183; S&#233;rie A &#183; 6 M&#8364; &#183; RegTech</strong><br>Naaia d&#233;veloppe une plateforme de pilotage des syst&#232;mes d&#8217;IA permettant aux grandes entreprises et aux organisations publiques de gouverner, superviser et d&#233;montrer la conformit&#233; r&#233;glementaire de leurs usages d&#8217;intelligence artificielle.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Ventech</p><div><hr></div><p><strong>Click&amp;Care &#183; S&#233;rie A &#183; 5 M&#8364; &#183; Silver Economy</strong><br>Click&amp;Care d&#233;veloppe une plateforme de mise en relation dans l&#8217;aide &#224; domicile permettant aux familles et aux personnes &#226;g&#233;es ou d&#233;pendantes de trouver, g&#233;rer et r&#233;mun&#233;rer des intervenants qualifi&#233;s.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> SWEN Capital Partners, InvESS Ile-de-France D&#233;veloppement</p><div><hr></div><p><strong>En Carta Diagnostics &#183; Amor&#231;age &#183; 5 M&#8364; &#183; BioTech</strong><br>En Carta Diagnostics d&#233;veloppe des outils de diagnostic sur papier &#224; bas co&#251;t et haute pr&#233;cision pour d&#233;tecter pand&#233;mies, &#233;pid&#233;mies et r&#233;sistances bact&#233;riennes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bpifrance, Ring Capital, CentraleSup&#233;lec Venture</p><div><hr></div><p><strong>Panora &#183; Amor&#231;age &#183; 4,4 M&#8364; &#183; AI</strong><br>Panora d&#233;veloppe une plateforme d&#8217;IA agentique qui automatise les workflows administratifs et op&#233;rationnels des courtiers en assurance, notamment sur la collecte documentaire, les devis, la conformit&#233; et le rapprochement des commissions.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> ISAI, Kima Ventures, 100IN, 199 Ventures, Business Angels</p><div><hr></div><p><strong>Twinsight &#183; Amor&#231;age &#183; 1,6 M&#8364; &#183; MedTech</strong><br>Twinsight d&#233;veloppe une plateforme SaaS de planification chirurgicale pr&#233;op&#233;ratoire qui cr&#233;e des jumeaux biom&#233;caniques personnalis&#233;s &#224; partir d&#8217;imagerie m&#233;dicale pour aider les chirurgiens orthop&#233;distes &#224; simuler les cin&#233;matiques du genou et d&#233;finir une strat&#233;gie op&#233;ratoire sur mesure.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Business Angels</p><div><hr></div><p><strong>Rivage &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; PropTech</strong><br>Rivage d&#233;veloppe un logiciel de gestion locative natif IA permettant aux professionnels de l&#8217;immobilier d&#8217;automatiser la comptabilit&#233; locative, la facturation, les rapprochements bancaires et les &#233;changes avec propri&#233;taires et locataires.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Kima Ventures, Business Angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" 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data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-28?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-28?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[🗞️ Le tour de table de la semaine 27]]></title><description><![CDATA[Actualit&#233;s, nouveaut&#233;s techs, tendances early-stage : retrouvez chaque vendredi le tour de table de la semaine]]></description><link>https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-27</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-27</guid><pubDate>Fri, 10 Jul 2026 19:31:39 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/7e6bfe50-a2d7-4fb6-8600-4acb4df21a7a_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gIyR!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gIyR!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 424w, 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><em>Son nom est Navigate, Robostral Navigate.</em></p><p>Mistral a d&#233;voil&#233; cette semaine son premier mod&#232;le IA con&#231;u pour guider des robots dans des espaces physiques. Et il n&#8217;est pas le seul nom &#224; faire du bruit : xAI a officiellement chang&#233; le sien en SpaceXAI lundi, apr&#232;s son int&#233;gration d&#233;finitive au sein du groupe SpaceX, aux c&#244;t&#233;s de X (anciennement Twitter). &#199;a fait beaucoup de X dans la m&#234;me phrase, on vous le conc&#232;de.</p><p>Bref, une semaine o&#249; les noms ont chang&#233;, et l&#8217;IA aussi.</p><div><hr></div><h4 style="text-align: center;">Au programme</h4><ul><li><p><strong>Deep dive :</strong> Deux ex MACHINA</p></li><li><p><strong>L&#8217;Expresso :</strong> Bient&#244;t des robotaxis &#224; Paris</p></li><li><p><strong>Equity story :</strong> De la cartographie de champs agricoles &#224; 8 milliards de dollars de valorisation</p></li><li><p><strong>Side Pocket :</strong> 1 100 candidatures et le chiffre qui r&#233;sume l'&#233;t&#233; de la d&#233;fense tech</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!DUxe!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><em><strong>Deus ex MACHINA</strong></em></p><p>Le RAISE Summit a rassembl&#233; 9 000 personnes au Carrousel du Louvre les 8 et 9 juillet. Troisi&#232;me &#233;dition, et d&#233;j&#224; le premier rendez-vous IA d&#8217;Europe en densit&#233; de d&#233;cideurs. Eric Schmidt l&#8217;avait d&#233;crit lors de l&#8217;&#233;dition pr&#233;c&#233;dente comme &#8220;la conf&#233;rence tech sur l&#8217;IA &#224; la croissance la plus rapide en Europe&#8221;. Cette ann&#233;e, le programme s&#8217;articulait autour de quatre axes : Foundation, Frontier, Friction, Future. Traduction concr&#232;te : on arr&#234;te d&#8217;exp&#233;rimenter, on passe &#224; la production &#224; grande &#233;chelle. L&#8217;heure des pilotes est termin&#233;e, du moins en th&#233;orie.</p><p>Sauf que le signal le plus structurant de la semaine n&#8217;est pas venu du Louvre mais de Station F le 7 juillet, avec le lancement du MACHINA Summit. Premier grand rendez-vous europ&#233;en enti&#232;rement consacr&#233; &#224; l&#8217;IA physique. L&#8217;id&#233;e derri&#232;re MACHINA, c&#8217;est de traiter l&#8217;IA comme ce qu&#8217;elle devient progressivement : non plus un logiciel qu&#8217;on interroge depuis un clavier, mais un syst&#232;me qui agit dans le monde r&#233;el. Robots qui naviguent, drones qui d&#233;cident, v&#233;hicules qui conduisent seuls.</p><p>Carolina Parada, qui dirige la robotique chez Google DeepMind, &#233;tait sur sc&#232;ne. &#192; ses c&#244;t&#233;s, Bernt B&#248;rnich, fondateur de 1X (le fabricant norv&#233;gien de robots humano&#239;des qui a lev&#233; plusieurs centaines de millions de dollars ces derniers mois), et Jim Fan, chercheur chez NVIDIA en charge de l&#8217;IA embarqu&#233;e, soit les mod&#232;les fondationnels con&#231;us pour des syst&#232;mes physiques autonomes. Trois noms, une th&#232;se : l&#8217;avenir de l&#8217;IA se construit dans les usines, les entrep&#244;ts et les environnements non-structur&#233;s du monde r&#233;el.</p><p>Ce qui rend cette semaine int&#233;ressante pour un investisseur, c&#8217;est que RAISE et MACHINA se sont tenus &#224; deux jours d&#8217;intervalle, dans la m&#234;me ville, sans se parler directement, mais en r&#233;pondant &#224; la m&#234;me question depuis des altitudes diff&#233;rentes. RAISE r&#233;unit les organisations qui d&#233;ploient l&#8217;IA dans leurs processus. MACHINA r&#233;unit ceux qui la glissent dans des machines autonomes. Deux paris sur deux horizons de temps diff&#233;rents, tous les deux &#224; Paris cette semaine.</p><p>L&#8217;IA physique ne discute plus de sa faisabilit&#233;. Elle l&#232;ve des fonds, ouvre des filiales, et sort des mod&#232;les. Paris a eu la bonne id&#233;e d&#8217;&#234;tre l&#224; pour en parler.</p><div><hr></div><h5 style="text-align: center;"><span data-color="#3c414d" style="color: rgb(60, 65, 77);">Partenaire du jour</span></h5><h4 style="text-align: center;">Votre prochaine lev&#233;e se pr&#233;pare d&#232;s aujourd&#8217;hui</h4><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Qore!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Qore!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 424w, 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Produit, recrutement, clients, et entre deux rendez-vous commerciaux, il faut aussi penser &#224; la tr&#233;sorerie, pr&#233;parer le prochain tour de table, et r&#233;pondre aux questions du banquier. La finance reste souvent la variable d&#8217;ajustement, trait&#233;e dans l&#8217;urgence plut&#244;t qu&#8217;anticip&#233;e.</p><p>C&#8217;est pr&#233;cis&#233;ment l&#224; qu&#8217;intervient Segrea Partners.</p><p><strong>Accompagnement lev&#233;e de fonds :</strong> de la structuration du dossier jusqu&#8217;au closing, Segrea Partners &#233;paule les startups early-stage dans leurs op&#233;rations de lev&#233;e de fonds early-stage.</p><ul><li><p><strong>Objectif</strong> : s&#233;curiser l&#8217;op&#233;ration sans y laisser six mois de roadmap produit.</p></li></ul><p><strong>Compl&#233;ments bancaires :</strong> une lev&#233;e en equity ne couvre pas tout, et emprunter dilue moins que lever. Segrea Partners structure les financements bancaires compl&#233;mentaires, pour construire un mix capital et dette plus efficace qu&#8217;une d&#233;pendance totale &#224; l&#8217;equity.</p><p><strong>Direction financi&#232;re &#224; temps partag&#233; :</strong> une startup n&#8217;a pas besoin d&#8217;un CFO &#224; temps plein d&#232;s le d&#233;but. Segrea Partners propose un service de direction financi&#232;re quelques jours par mois : reporting investisseurs, structuration financi&#232;re, pilotage de la tr&#233;sorerie.</p><ul><li><p>Pour gagner en souplesse op&#233;rationnelle, sans le co&#251;t ni l&#8217;engagement d&#8217;un recrutement &#224; temps plein.</p></li></ul><p><strong>Vous investissez en startup ?</strong></p><p>Segrea Partners construit aussi un r&#233;seau d&#8217;investisseurs early-stage. Si vous &#234;tes business angel ou investisseur actif, contactez-nous pour rejoindre le r&#233;seau et acc&#233;der aux dossiers accompagn&#233;s par Segrea Partners.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contacter Segrea Partners&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.segrea-partners.com/contact"><span>Contacter Segrea Partners</span></a></p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!80Wb!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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srcset="https://substackcdn.com/image/fetch/$s_!80Wb!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>&#129302;<strong> Mistral fais ses premiers pas en robotique :</strong> Mistral a d&#233;voil&#233; jeudi Robostral Navigate, son premier mod&#232;le con&#231;u pour guider des robots dans des espaces physiques. Cam&#233;ra embarqu&#233;e, instructions en langage naturel (&#8221;quitte le hall, traverse le couloir, entre dans la salle de stockage&#8221;), compatibilit&#233; avec tout type de machine, &#224; roues, sur pattes ou volante. En mai, la startup avait sign&#233; avec Airbus, et elle recrute d&#233;j&#224; des ing&#233;nieurs pour &#233;toffer son &#233;quipe robotique. Le pivot vers les syst&#232;mes physiques est assum&#233;.</p><div><hr></div><p><strong>&#128663; Bient&#244;t des robotaxis &#224; Paris :</strong> Waymo, la filiale d&#8217;Alphabet (Google) d&#233;di&#233;e aux v&#233;hicules autonomes, vient d&#8217;&#234;tre rep&#233;r&#233;e dans les registres de l&#8217;INPI. Capital social de 10 000 euros, adresse partag&#233;e avec OpenAI au coeur du 8e arrondissement de la capitale, et un objet social est sans ambigu&#239;t&#233; : transport &#224; la demande en v&#233;hicule autonome. M&#234;me d&#233;marche en Allemagne et en Espagne en juin, et un lancement commercial &#224; Londres pr&#233;vu avant fin 2026. Un service commercial &#224; Paris avant 2027 reste improbable, mais Waymo n&#8217;ouvre pas des coquilles vides pour le plaisir.</p><div><hr></div><p>&#128187;<strong> SambaNova entre en guerre contre Nvidia :</strong> la startup californienne de puces IA a occup&#233; le salon du RAISE Summit cette semaine pour afficher son ambition de s&#8217;&#233;riger en rival direct de Nvidia. Valoris&#233;e 11 milliards de dollars, SambaNova d&#233;veloppe une architecture mat&#233;rielle alternative pour l&#8217;inf&#233;rence et l&#8217;entra&#238;nement des grands mod&#232;les. Sa pr&#233;sence au RAISE, aux c&#244;t&#233;s de Vsora (startup fran&#231;aise de processeurs IA qui vient d&#8217;accueillir Ardian &#224; son capital), dit quelque chose sur la prochaine bataille : apr&#232;s la guerre des mod&#232;les, la guerre des puces.</p><div><hr></div><p><strong><span>&#9992;&#65039;</span> Elixir Aircraft (S&#233;rie C de 45 M&#8364;) triple sa cadence :</strong> l&#8217;avionneur rochelais a produit 16 appareils au premier semestre 2026, soit plus que sur toute l&#8217;ann&#233;e 2025. La S&#233;rie C, men&#233;e par le fonds SPI de Bpifrance (France 2030) aux c&#244;t&#233;s d&#8217;Odyss&#233;e Venture et Innovacom, doit financer le passage &#224; cinq appareils par mois, seuil de la rentabilit&#233; vis&#233;e pour 2027. Elixir a d&#233;croch&#233; la certification FAA l&#8217;an dernier, premi&#232;re pour un avionneur fran&#231;ais, et livre depuis juin ses premiers appareils &#224; des &#233;coles de pilotage en Floride et Arizona. 300 pr&#233;commandes attendaient aux &#201;tats-Unis.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2PuH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2600649,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>De la cartographie de champs agricoles &#224; 8 milliards de dollars de valorisation</strong></p><p>Quantum Systems a commenc&#233; avec des drones pour cartographier des champs agricoles et inspecter des lignes &#233;lectriques. D&#233;but juillet 2026, Blackstone, Airbus, Fidelity et Wellington co-menaient une S&#233;rie D de 1,2 milliard de dollars valorisant la startup munichoise &#224; 8 milliards. Onze ans entre ces deux phrases. Une guerre aussi.</p><p>La guerre en Ukraine a transform&#233; les syst&#232;mes autonomes en actifs militaires critiques, et Quantum Systems a pivot&#233; au bon moment. Son drone Vector a accompli plus de 19 000 missions avec les forces ukrainiennes en 2025 seuls. Un chiffre qui a autant convaincu les g&#233;n&#233;raux que les fonds d&#8217;investissement. La soci&#233;t&#233; est aujourd&#8217;hui rentable sur le plan op&#233;rationnel, avec un chiffre d&#8217;affaires d&#233;passant 300 M&#8364; en 2025 et une croissance &#224; trois chiffres. La profitabilit&#233; d&#8217;une soci&#233;t&#233; encore venture-backed &#224; ce stade de d&#233;veloppement m&#233;rite d&#8217;&#234;tre signal&#233;e : c&#8217;est suffisamment rare dans le secteur pour compter.</p><p>Le vrai sujet du tour, c&#8217;est la th&#232;se du &#8220;neo prime&#8221;. Florian Seibel, co-CEO, construit MOSAIC UXS, un syst&#232;me d&#8217;exploitation permettant &#224; des syst&#232;mes autonomes de types diff&#233;rents, drones, robots terrestres, v&#233;hicules maritimes, d&#8217;op&#233;rer ensemble en temps r&#233;el, quel que soit leur fabricant. La plateforme logicielle est l&#8217;actif strat&#233;gique que les investisseurs financent. La pr&#233;sence de Blackstone, fonds habituellement positionn&#233; sur l&#8217;immobilier et les buyouts, dans ce tour dit quelque chose sur l&#8217;horizon que le march&#233; de la d&#233;fense autonome commence &#224; repr&#233;senter pour le capital institutionnel mainstream.</p><p>Quantum Systems est d&#233;ploy&#233;e dans sept pays : Allemagne, Ukraine, &#201;tats-Unis, Australie, Roumanie, Royaume-Uni et Lituanie. Florian Seibel a publiquement &#233;voqu&#233; l&#8217;acquisition potentielle de STARK Defence, qui avait lev&#233; 500 M&#8364; avec Peter Thiel fin juin. Le premier pr&#233;tendant s&#233;rieux &#224; la consolidation de la d&#233;fense autonome europ&#233;enne vient de se nommer.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gJPC!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Fun fact :</strong> RAISE the STAKES, la comp&#233;tition de startups organis&#233;e en marge du RAISE Summit, a re&#231;u plus de 1 100 candidatures cette ann&#233;e. Quelques centaines lors des premi&#232;res &#233;ditions, quatre fois plus en 2026. La dotation, elle, restait &#224; 10 millions d&#8217;euros de prix. Conclusion provisoire : le march&#233; de l&#8217;IA produit des startups plus vite qu&#8217;il ne produit des comp&#233;titions pour les accueillir.</p><div><hr></div><p><strong>Le chiffre :</strong> <mark data-color="#fff2cc" style="background-color: rgb(255, 242, 204); color: rgb(0, 0, 0);">17,4 milliards de dollars investis dans la d&#233;fense tech mondiale depuis le 1er janvier 2026</mark>, selon Dealroom. L&#8217;ann&#233;e 2025 enti&#232;re en avait totalis&#233; 11,2 milliards. Au rythme actuel, 2026 d&#233;passera le double. Cinq deals concentrent l&#8217;essentiel : Anduril (5 Md),ShieldAI(2Md), Shield AI (2 Md ),<span>S</span>hie<span>l</span>dA<span>I</span>(2<span>M</span>d), Saronic (1,8 Md),Helsing(1,2Md), Helsing (1,2 Md ),He<span>l</span>sin<span>g</span>(1,2<span>M</span>d) et Quantum Systems (1,2 Md$). Pour situer : en 2021, au pic de la bulle VC g&#233;n&#233;raliste, la d&#233;fense tech captait 7 milliards sur l&#8217;ann&#233;e enti&#232;re. Le secteur a multipli&#233; ses montants par 2,5 en cinq ans.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!eI0l!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2996625,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><ul><li><p>SpaceXAI a lanc&#233; Grok 4.5, son nouveau mod&#232;le positionn&#233; agressivement sur le prix face &#224; Claude et GPT, avec une cible prioritaire sur les d&#233;veloppeurs et les usages agentiques. L&#8217;Union europ&#233;enne n&#8217;y a pas acc&#232;s au lancement, dans la continuit&#233; des restrictions de march&#233; qui ont d&#233;j&#224; touch&#233; Fable 5 et Mythos 5.</p></li></ul><ul><li><p>&#192; partir d&#8217;aujourd&#8217;hui, Alibaba bloque l&#8217;acc&#232;s &#224; Claude Code pour l&#8217;ensemble de ses salari&#233;s, en toile de fond d&#8217;un durcissement progressif d&#8217;Anthropic sur les acc&#232;s depuis la Chine.</p></li><li><p>SpaceX a d&#233;pos&#233; aupr&#232;s de la FCC une demande pour lancer un million de satellites destin&#233;s &#224; former un centre de donn&#233;es orbital, confirmant que SpaceXAI vise une infrastructure de calcul dans l&#8217;espace.</p></li><li><p>KNDS, le groupe franco-allemand de d&#233;fense (Nexter, Krauss-Maffei Wegmann), reporte son introduction en Bourse, invoquant des conditions de march&#233; insuffisamment favorables malgr&#233; un carnet de commandes record.</p></li><li><p>Mistral AI reste en discussions pour lever 3 milliards d&#8217;euros &#224; une valorisation de 20 milliards, sans annonce officielle &#224; ce stade depuis plusieurs semaines.</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Xuet!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Xuet!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:50746,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Xuet!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Vous souhaitez nous soutenir ? Un abonnement, un partage. Simple, efficace !</p><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne fin de semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-27?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-27?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 27 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-27</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-27</guid><pubDate>Mon, 06 Jul 2026 05:31:34 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/39074373-4c8a-4135-a1ad-5db6ab958090_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 27&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Cette semaine, les startups fran&#231;aises ont lev&#233; <strong>au moins 58,7 millions d&#8217;euros</strong>, sur <strong>5 op&#233;rations</strong>, soit un ticket moyen d&#8217;au moins <strong>11,7 millions d&#8217;euros</strong>. Ce total est un plancher, puisque le montant du tour de <strong>Vsora</strong> n&#8217;a pas &#233;t&#233; communiqu&#233; publiquement.</p><p>La physionomie de la semaine est marqu&#233;e par <strong>Elixir Aircraft (45 M&#8364;, Aerospace)</strong>, <strong>Vsora (DeepTech)</strong> et <strong>Tallano Technologies (10 M&#8364;, ClimateTech)</strong>. Derri&#232;re ces tours, le reste du flux se r&#233;partit entre <strong>2,7 M&#8364; et 1 M&#8364;</strong> sur les secteurs suivants : AI et EdTech.</p><p>L&#8217;IA reste au c&#339;ur de cette dynamique, avec <strong>au moins 2,7 M&#8364; lev&#233;s</strong>, un chiffre m&#233;caniquement sous-estim&#233; puisque <strong>Vsora</strong>, qui d&#233;veloppe des processeurs pour applications d&#8217;IA, n&#8217;a pas communiqu&#233; le montant de son extension de S&#233;rie B.</p><div><hr></div><h3 style="text-align: center;">Insight de la semaine</h3><p>Le signal le plus int&#233;ressant de la semaine porte sur la nature des actifs financ&#233;s. De la d&#233;fense aux semi-conducteurs, en passant par les logiciels temps r&#233;el et l&#8217;aviation, la cr&#233;ation de valeur remonte vers les couches critiques de l&#8217;&#233;conomie technologique : celles qui contr&#244;lent les machines, les capteurs, les processeurs et, &#224; terme, les cha&#238;nes de d&#233;cision.</p><p>Cette lecture est renforc&#233;e par l&#8217;actualit&#233; europ&#233;enne r&#233;cente. D&#233;but juillet 2026, <strong>Quantum Systems</strong> a lev&#233; <strong>1,2 Md$</strong> &#224; une valorisation d&#8217;environ <strong>8 Md$</strong>, avec l&#8217;ambition affich&#233;e de consolider le secteur des syst&#232;mes autonomes. Dans le m&#234;me temps, <strong>RAISE Summit</strong> r&#233;unit &#224; Paris, les <strong>8 et 9 juillet 2026</strong>, plus de <strong>9 000 participants</strong> et <strong>2 000 entreprises</strong> autour des enjeux d&#8217;IA, de souverainet&#233; et d&#8217;infrastructure.</p><p>Dans ce contexte, des soci&#233;t&#233;s comme <strong>Elixir Aircraft</strong>, <strong>Vsora</strong> ou <strong>Tallano Technologies</strong> s&#8217;inscrivent dans une logique de r&#233;industrialisation strat&#233;gique, o&#249; performance, souverainet&#233; et capacit&#233; d&#8217;ex&#233;cution deviennent des crit&#232;res aussi importants que la croissance pure.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1955671,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Elixir Aircraft &#183; S&#233;rie C &#183; 45 M&#8364; &#183; Aerospace</strong><br>Elixir Aircraft d&#233;veloppe des avions l&#233;gers destin&#233;s &#224; la formation des pilotes et &#224; l&#8217;aviation g&#233;n&#233;rale, avec un positionnement centr&#233; sur la s&#233;curit&#233;, la baisse des co&#251;ts d&#8217;exploitation et l&#8217;efficacit&#233; &#233;nerg&#233;tique.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bpifrance, Odyss&#233;e Venture, Innovacom</p><div><hr></div><p><strong>Vsora &#183; S&#233;rie B &#183; </strong><em><strong>n.a</strong></em><strong> &#183; DeepTech</strong><br>Vsora d&#233;veloppe des processeurs haute performance pour les applications d&#8217;intelligence artificielle.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Ardian, Omnes Capital, Otium Capital, XAnge, NJJ Capital, Isai, CloudHQ, Sprind-D, EIC Fund, Critical Path</p><div><hr></div><p><strong>Tallano Technologies &#183; S&#233;rie A &#183; 10 M&#8364; &#183; ClimateTech</strong><br>Tallano Technologies d&#233;veloppe une solution d&#8217;aspiration &#224; la source des particules &#233;mises par les freins, destin&#233;e aux secteurs routier et ferroviaire.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Mirova, Bpifrance, Karista</p><div><hr></div><p><strong>Concord.ad &#183; Amor&#231;age &#183; 2,7 M&#8364; &#183; AI</strong><br>Concord.ad d&#233;veloppe une plateforme SaaS d&#8217;IA agentique qui automatise l&#8217;ex&#233;cution, l&#8217;optimisation et la gestion des campagnes d&#8217;achat m&#233;dia sur les principales plateformes publicitaires.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Drysdale Ventures, Motier Ventures, Better Angle, Andreessen Horowitz, Business Angels</p><div><hr></div><p><strong>Loumo &#183; Amor&#231;age &#183; 1 M&#8364; &#183; EdTech</strong><br>Loumo d&#233;veloppe une plateforme SaaS d&#233;di&#233;e &#224; l&#8217;organisation et &#224; la correction des examens.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Business angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-27?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-27?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[🗞️ Le tour de table de la semaine 26]]></title><description><![CDATA[Actualit&#233;s, nouveaut&#233;s techs, tendances early-stage : retrouvez chaque vendredi le tour de table de la semaine]]></description><link>https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-26</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-26</guid><pubDate>Fri, 03 Jul 2026 16:34:07 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/46c20287-048d-4fc2-b9c1-bb378d5cb594_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gIyR!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gIyR!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!gIyR!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Amazon avait promis 25 milliards de dollars suppl&#233;mentaires &#224; Anthropic en d&#233;but d'ann&#233;e. Cette semaine, on apprend qu'il ren&#233;gocie son contrat pour passer &#224; la facturation au token, qu'il explore des alternatives chez OpenAI, et que ses propres chercheurs auraient contribu&#233; &#224; d&#233;clencher les contr&#244;les &#224; l'export sur Fable 5. Le partenariat le plus m&#233;diatis&#233; de l'IA est en train de se retourner. Pendant ce temps, Withings annonce sa premi&#232;re ann&#233;e b&#233;n&#233;ficiaire apr&#232;s 18 ans d'existence. Et une biotech fran&#231;aise de 9 mois vient de lever 143 millions d'euros. </p><div><hr></div><h4 style="text-align: center;">Au programme</h4><ul><li><p><strong>Deep Dive</strong> : comment la relation Amazon-Anthropic est pass&#233;e du partenariat &#224; l'adversit&#233;</p></li><li><p><strong>L&#8217;Expresso</strong> : deux anciens de Datadog frappent fort en S&#233;rie A</p></li><li><p><strong>Equity Story</strong> : une biotech de 9 mois et 143 millions d'euros</p></li><li><p><strong>Side Pocket</strong> : Amazon avait un tableau de classement pour br&#251;ler des tokens</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!DUxe!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>Le plus grand partenariat de l&#8217;IA commence &#224; se fissurer</strong></p><p>Retour en 2023 : Amazon investit 4 milliards de dollars dans Anthropic, fait d&#8217;AWS son fournisseur cloud principal et s&#8217;engage &#224; utiliser les puces IA maison pour l&#8217;entra&#238;nement et l&#8217;inf&#233;rence. En d&#233;but d&#8217;ann&#233;e 2026, Amazon s&#8217;engage &#224; investir 25 milliards suppl&#233;mentaires. Deux entit&#233;s ins&#233;parables, li&#233;es par des milliards et des engagements mutuels.</p><p>Cette semaine, The Information r&#233;v&#232;le qu&#8217;Amazon a ren&#233;goci&#233; une partie de son accord avec Anthropic, passant d&#8217;une facturation &#224; l&#8217;heure de calcul &#224; une tarification au token, applicable d&#232;s l&#8217;an prochain. Le changement pourrait alourdir substantiellement la facture d&#8217;Amazon, dont les produits internes (l&#8217;agent de code Kiro, l&#8217;assistant professionnel Quick, Alexa for Shopping) reposent tous sur Claude. Amazon d&#233;ment tout surco&#251;t. Mais les faits parlent d&#8217;eux-m&#234;mes : le groupe &#233;value d&#233;j&#224; des mod&#232;les alternatifs chez OpenAI, avec lequel il a sign&#233; un accord de 50 milliards de dollars plus t&#244;t cette ann&#233;e.</p><p>L&#8217;ironie du contexte ajoute une couche suppl&#233;mentaire. Selon plusieurs sources, ce sont des chercheurs d&#8217;Amazon qui ont identifi&#233; une m&#233;thode permettant d&#8217;utiliser Fable 5 pour obtenir des informations utiles &#224; des cyberattaques. Andy Jassy en aurait inform&#233; des responsables gouvernementaux, d&#233;clenchant les contr&#244;les &#224; l&#8217;export du 12 juin qui ont forc&#233; Anthropic &#224; couper l&#8217;acc&#232;s &#224; ses deux mod&#232;les les plus puissants pour l&#8217;ensemble des clients &#233;trangers. Le plus gros investisseur d&#8217;Anthropic a donc potentiellement contribu&#233; &#224; faire suspendre les mod&#232;les qu&#8217;il finance.</p><p>Le paradoxe est structurel. Amazon a besoin d&#8217;Anthropic pour alimenter ses produits IA, mais chaque progr&#232;s de Claude augmente sa d&#233;pendance et sa facture. Anthropic, de son c&#244;t&#233;, a ouvert la porte &#224; Google Cloud (accord de 200 milliards d&#8217;euros sur cinq ans) et ne d&#233;pend plus d&#8217;un seul fournisseur. Pour les startups europ&#233;ennes qui construisent sur des APIs de mod&#232;les am&#233;ricains, la s&#233;quence de cette semaine est un rappel utile : une relation fournisseur ne vaut que ce que valent les int&#233;r&#234;ts align&#233;s derri&#232;re elle.</p><div><hr></div><h5 style="text-align: center;"><span data-color="#3c414d" style="color: rgb(60, 65, 77);">Partenaire du jour</span></h5><h4 style="text-align: center;">Votre prochaine lev&#233;e se pr&#233;pare d&#232;s aujourd&#8217;hui</h4><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Qore!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Produit, recrutement, clients, et entre deux rendez-vous commerciaux, il faut aussi penser &#224; la tr&#233;sorerie, pr&#233;parer le prochain tour de table, et r&#233;pondre aux questions du banquier. La finance reste souvent la variable d&#8217;ajustement, trait&#233;e dans l&#8217;urgence plut&#244;t qu&#8217;anticip&#233;e.</p><p>C&#8217;est pr&#233;cis&#233;ment l&#224; qu&#8217;intervient Segrea Partners.</p><p><strong>Accompagnement lev&#233;e de fonds :</strong> de la structuration du dossier jusqu&#8217;au closing, Segrea Partners &#233;paule les startups early-stage dans leurs op&#233;rations de lev&#233;e de fonds early-stage.</p><ul><li><p><strong>Objectif</strong> : s&#233;curiser l&#8217;op&#233;ration sans y laisser six mois de roadmap produit.</p></li></ul><p><strong>Compl&#233;ments bancaires :</strong> une lev&#233;e en equity ne couvre pas tout, et emprunter dilue moins que lever. Segrea Partners structure les financements bancaires compl&#233;mentaires, pour construire un mix capital et dette plus efficace qu&#8217;une d&#233;pendance totale &#224; l&#8217;equity.</p><p><strong>Direction financi&#232;re &#224; temps partag&#233; :</strong> une startup n&#8217;a pas besoin d&#8217;un CFO &#224; temps plein d&#232;s le d&#233;but. Segrea Partners propose un service de direction financi&#232;re quelques jours par mois : reporting investisseurs, structuration financi&#232;re, pilotage de la tr&#233;sorerie.</p><ul><li><p>Pour gagner en souplesse op&#233;rationnelle, sans le co&#251;t ni l&#8217;engagement d&#8217;un recrutement &#224; temps plein.</p></li></ul><p><strong>Vous investissez en startup ?</strong></p><p>Segrea Partners construit aussi un r&#233;seau d&#8217;investisseurs early-stage. Si vous &#234;tes business angel ou investisseur actif, contactez-nous pour rejoindre le r&#233;seau et acc&#233;der aux dossiers accompagn&#233;s par Segrea Partners.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contacter Segrea Partners&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.segrea-partners.com/contact"><span>Contacter Segrea Partners</span></a></p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!80Wb!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!80Wb!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1456w" sizes="100vw"><img 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srcset="https://substackcdn.com/image/fetch/$s_!80Wb!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>&#129302; Deux anciens de Datadog s&#8217;attaquent &#224; l&#8217;observabilit&#233; IA :</strong> Gabriel-James Safar et S&#233;bastien Deprez ont vendu leur premi&#232;re startup &#224; Datadog en 2018, y ont pass&#233; des ann&#233;es, puis en sont sortis avec un constat : le mod&#232;le de l&#8217;observabilit&#233; classique (envoyer toute la t&#233;l&#233;m&#233;trie vers le cloud du fournisseur, facturer au volume) ne tient plus face aux agents IA. Tsuga d&#233;ploie directement dans le cloud du client, sans que les donn&#233;es ne quittent son p&#233;rim&#232;tre. La S&#233;rie A est men&#233;e par Singular, avec General Catalyst, DST Global, Databricks Ventures, Picus et QuantumLight. Les investisseurs historiques ont remis au pot sans qu&#8217;on le leur demande. Six mois apr&#232;s la sortie du stealth, la bo&#238;te revendique d&#233;j&#224; plusieurs millions d&#8217;ARR avec des clients comme Le Monde, Black Forest Labs et Camunda.</p><p><strong>&#127973; Withings devient rentable apr&#232;s 18 ans :</strong> c&#8217;est arriv&#233; le 1er juillet 2026. La soci&#233;t&#233; fond&#233;e en 2008, rachet&#233;e &#224; Nokia en 2018 par &#201;ric Carreel apr&#232;s un passage d&#233;sastreux sous l&#8217;oiseau bleu, annonce sa premi&#232;re ann&#233;e b&#233;n&#233;ficiaire sur l&#8217;exercice 2025. 15 millions d&#8217;utilisateurs actifs, un milliard de mesures de sant&#233; enregistr&#233;es en 2025, 66 % du chiffre d&#8217;affaires issus de dispositifs m&#233;dicaux certifi&#233;s CE MDR. Ce qui distingue Withings du gadget de sant&#233; connect&#233;e ordinaire, c&#8217;est justement cette cr&#233;dibilit&#233; clinique construite sur des ann&#233;es : 150 publications scientifiques, des partenariats avec Mayo Clinic et UCSF, un abonnement Withings+ qui a quasiment doubl&#233; son chiffre d&#8217;affaires en 2025. 18 ans pour une premi&#232;re ann&#233;e verte. La patience a ses vertus.</p><p><strong>&#128182; Seedcamp boucle son nouveau fonds &#224; 279 M&#8364; :</strong> le fonds seed britannique, connu pour ses premiers tours dans Revolut, UiPath ou TransferWise, annonce son nouveau mill&#233;sime. Cible d&#8217;investissement : les startups &#224; l&#8217;intersection du logiciel, de l&#8217;IA et du monde physique. Seedcamp a &#233;t&#233; parmi les premiers &#224; miser sur Uncovr (analyse automatique de vid&#233;os chirurgicales), et a r&#233;cemment particip&#233; &#224; plusieurs premiers tours fran&#231;ais. Un fonds seed de 279 M&#8364; bien garni pour le march&#233; europ&#233;en post-VivaTech.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2PuH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>Bionyra, neuf mois d&#8217;existence et 143 millions d&#8217;euros</strong></p><p>Bionyra Pharma a &#233;t&#233; fond&#233;e en septembre 2025. En juin 2026, elle l&#232;ve 143 millions d&#8217;euros en S&#233;rie A sursouscrite, co-men&#233;e par Jeito Capital et Sofinnova Partners, avec la participation d&#8217;Arkin Bio, Sanofi Ventures, Sixty Degree Capital, Vives Partners et Apollo Health Ventures. La soci&#233;t&#233; avait neuf mois au moment du closing.</p><p>Orchestr&#233;e par un homme qui conna&#238;t le terrain de l&#8217;int&#233;rieur. Fr&#233;d&#233;ric Marrache, cofondateur et PDG, est un ancien cadre de la R&amp;D de Sanofi, sp&#233;cialiste des maladies inflammatoires. Son pari : les formes s&#233;v&#232;res de dermatite atopique et de maladies inflammatoires chroniques de l&#8217;intestin (Crohn, rectocolite h&#233;morragique) restent mal contr&#244;l&#233;es malgr&#233; les traitements actuels. Plus de la moiti&#233; des patients en formes s&#233;v&#232;res ne r&#233;pondent pas suffisamment aux bioth&#233;rapies disponibles.</p><p>Bionyra a donc proc&#233;d&#233; autrement. Plut&#244;t que de construire une mol&#233;cule from scratch, la soci&#233;t&#233; a acquis sous licence des anticorps en phase clinique aupr&#232;s de biotechs chinoises et am&#233;ricaines, puis les a am&#233;lior&#233;s avec une technologie propri&#233;taire d&#8217;allongement de demi-vie (HLE). Le pipeline compte trois candidats, deux en phase I et un en IND. Tous ciblent TL1A ou IL-25, parmi les cibles inflammatoires les plus prometteuses du moment. Le &#8220;best-in-class&#8221; n&#8217;est pas seulement un argument commercial : l&#8217;extension de demi-vie signifie des injections moins fr&#233;quentes et des doses plus faibles, un gain de confort patient concret.</p><p>L&#8217;entr&#233;e conjointe de Jeito et Sofinnova en co-lead m&#233;rite attention : deux fonds sp&#233;cialis&#233;s en sciences de la vie, avec une exigence de diligence particuli&#232;rement &#233;lev&#233;e dans ce secteur. Le tour sursouscrit dit quelque chose sur la qualit&#233; du dossier. Pour une soci&#233;t&#233; de neuf mois avec uniquement des candidats sous licence et sans produit commercialis&#233;, c&#8217;est un vote de confiance rare.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gJPC!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2198530,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Fun fact :</strong> jusqu&#8217;&#224; r&#233;cemment, Amazon animait en interne un tableau de classement encourageant ses &#233;quipes &#224; consommer le plus grand nombre possible de tokens d&#8217;IA. Une incitation &#224; l&#8217;usage intensif, logique quand la facturation est &#224; l&#8217;heure de calcul. Depuis que le contrat avec Anthropic bascule vers la facturation au token, le tableau de classement a discr&#232;tement disparu. L&#8217;unit&#233; de mesure change, les comportements suivent.</p><div><hr></div><p><strong>Le chiffre :</strong> 200 milliards de dollars. C&#8217;est le montant que Anthropic s&#8217;est engag&#233;e &#224; d&#233;penser sur Google Cloud sur cinq ans, selon The Information. Amazon reste le premier cloud d&#8217;Anthropic, mais ce chiffre signale qu&#8217;Anthropic ne mise plus sur un seul fournisseur d&#8217;infrastructure. Pour un investisseur qui pensait avoir s&#233;curis&#233; un acc&#232;s exclusif, c&#8217;est un changement de statut significatif.</p><div><hr></div><p><strong>La citation : </strong><em>&#171; Atteindre la rentabilit&#233; en 2025 prouve qu&#8217;il est possible de b&#226;tir une entreprise durable sur des fondements cliniques rigoureux, au service du patient comme du m&#233;decin. &#187;</em></p><p>&#201;ric Carreel, PDG de Withings, &#224; l&#8217;occasion de l&#8217;annonce de la premi&#232;re ann&#233;e rentable cette semaine.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!eI0l!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!eI0l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><ul><li><p>Amazon et OpenAI annoncent un partenariat &#233;largi : les mod&#232;les d&#8217;OpenAI seront disponibles sur Amazon Bedrock et le groupe investira jusqu&#8217;&#224; 50 milliards de dollars dans l&#8217;infrastructure d&#8217;OpenAI.</p></li><li><p>Globant, int&#233;grateur technologique, et Anthropic scellent un accord pluriannuel pour int&#233;grer Claude dans les solutions d&#8217;entreprise du groupe argentin (30 juin).</p></li><li><p>Rheinmetall perd 21 % en Bourse en une s&#233;ance, sur fond de rumeurs d&#8217;un accord de cessez-le-feu en Ukraine, illustrant la sensibilit&#233; extr&#234;me des valeurs de d&#233;fense aux signaux g&#233;opolitiques.</p></li><li><p>Le premier semestre 2026 s&#8217;est achev&#233; avec un bilan French Tech &#224; confirmer : juin seul a pes&#233; plus de 700 M&#8364; gr&#226;ce &#224; Alan (480 M&#8364;) et Bionyra (143 M&#8364;).</p></li><li><p>Booz Allen Hamilton et OpenAI annoncent un partenariat pour d&#233;ployer des solutions d&#8217;IA dans les agences am&#233;ricaines &#224; missions de s&#233;curit&#233; nationale (29 juin).</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Xuet!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Xuet!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Vous souhaitez nous soutenir ? Un abonnement, un partage. Simple, efficace !</p><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne fin de semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-26?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-26?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 26 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-26</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-26</guid><pubDate>Mon, 29 Jun 2026 06:02:10 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/c6f79e9e-b556-4199-8f4a-4c1f81c99333_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947538,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 26&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont lev&#233; <strong>719,5 millions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>12 op&#233;rations</strong>, soit un ticket moyen de <strong>60 millions d&#8217;euros</strong>. Le niveau est port&#233; par deux tours majeurs en InsurTech et BioTech, qui concentrent &#224; eux seuls plus de 86 % des montants lev&#233;s.</p><p>La physionomie de la semaine est marqu&#233;e par <strong>Alan (480 M&#8364;, InsurTech)</strong>, <strong>Bionyra Pharma (143 M&#8364;, BioTech)</strong> et <strong>Tsuga (30 M&#8364;, Data)</strong>. Derri&#232;re ce trio de t&#234;te, le reste du flux se r&#233;partit entre <strong>17 M&#8364; et 1 M&#8364;</strong> sur les secteurs suivants : DeepTech, Mobility, Aerospace, HRTech, ClimateTech, Logistics &amp; Delivery, MedTech, LegalTech et AI.</p><p>L&#8217;IA reste au c&#339;ur de cette dynamique, avec au moins <strong>522,5 M&#8364; lev&#233;s</strong>, ce qui repr&#233;sente <strong>72,6 %</strong> des montants lev&#233;s.</p><div><hr></div><h4 style="text-align: center;">Insight de la semaine</h4><p>La semaine illustre une tendance de fond d&#233;j&#224; visible depuis le d&#233;but de l&#8217;ann&#233;e : le capital se concentre de plus en plus sur un nombre limit&#233; d&#8217;acteurs per&#231;us comme strat&#233;giques. Alan et Bionyra Pharma captent &#224; elles seules l&#8217;essentiel du flux, avec deux logiques diff&#233;rentes mais compl&#233;mentaires : d&#8217;un c&#244;t&#233;, une scale-up capable d&#8217;absorber du capital pour acc&#233;l&#233;rer sa domination sur une verticale d&#233;j&#224; largement structur&#233;e ; de l&#8217;autre, une biotech qui mobilise des montants massifs pour financer un temps scientifique long et risqu&#233;.</p><p>Derri&#232;re ces m&#233;ga-tours, le reste du dealflow confirme aussi la mont&#233;e en puissance d&#8217;infrastructures logicielles plus profondes. Tsuga dans l&#8217;observabilit&#233; cloud, Linc dans la paie, Haiku dans les usages juridiques et Ginjer.ai sur sa verticale montrent que l&#8217;IA continue de se diffuser dans des couches m&#233;tier critiques, l&#224; o&#249; les gains de productivit&#233; sont directement mesurables.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Alan &#183; S&#233;rie G &#183; 480 M&#8364; &#183; InsurTech</strong><br>Alan d&#233;veloppe une plateforme d&#8217;assurance sant&#233; digitale permettant aux particuliers, aux entreprises et aux organismes publics d&#8217;acc&#233;der &#224; une couverture sant&#233;, &#224; des services de pr&#233;vention et &#224; des outils de sant&#233; enrichis par l&#8217;IA au sein d&#8217;une plateforme int&#233;gr&#233;e par abonnement.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Prosus, Dara Holdings, Teachers Venture Growth, Index Ventures</p><div><hr></div><p><strong>Bionyra Pharma &#183; S&#233;rie A &#183; 143 M&#8364; &#183; BioTech</strong><br>Bionyra Pharma d&#233;veloppe de nouvelles th&#233;rapies en immunologie pour les maladies inflammatoires s&#233;v&#232;res, notamment la dermatite atopique et les maladies inflammatoires chroniques de l&#8217;intestin, &#224; travers un pipeline de candidats biologiques de nouvelle g&#233;n&#233;ration.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Jeito Capital, Sofinnova Partners, Arkin Bio, Sanofi Ventures, Sixty Degree Capital, Vives Partners, Apollo Health Ventures</p><div><hr></div><p><strong>Tsuga &#183; S&#233;rie A &#183; 30 M&#8364; &#183; Data</strong><br>Tsuga d&#233;veloppe une plateforme d&#8217;observabilit&#233; native IA permettant aux grandes entreprises de superviser, diagnostiquer et optimiser leurs applications cloud et les workflows d&#8217;agents IA gr&#226;ce &#224; l&#8217;analyse de t&#233;l&#233;m&#233;trie et au diagnostic automatis&#233; des incidents.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Singular, General Catalyst, DST Global Partners, QuantumLight, Picus Capital, Databricks Ventures</p><div><hr></div><p><strong>AlpSemi &#183; Amor&#231;age &#183; 17 M&#8364; &#183; DeepTech</strong><br>AlpSemi d&#233;veloppe une nouvelle g&#233;n&#233;ration d&#8217;interrupteurs de puissance pour semi-conducteurs permettant aux b&#226;timents, data centers et sites industriels de d&#233;ployer des syst&#232;mes software-defined de protection &#233;lectrique et de distribution d&#8217;&#233;nergie.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Yotta Capital Partners, SE Ventures, Navitas Semiconductor, Cycle Group</p><div><hr></div><p><strong>Flease &#183; S&#233;rie A &#183; 13 M&#8364; &#183; Mobility</strong><br>Flease propose des solutions flexibles de leasing automobile B2B permettant aux entreprises de g&#233;rer des flottes de v&#233;hicules r&#233;cents et reconditionn&#233;s via des contrats par abonnement et des outils digitaux de gestion de flotte.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Partech Impact</p><div><hr></div><p><strong>Wheere &#183; Amor&#231;age &#183; 8,5 M&#8364; &#183; Aerospace</strong><br>Wheere d&#233;veloppe une technologie de g&#233;olocalisation indoor et outdoor &#224; grande &#233;chelle permettant aux acteurs industriels, &#233;nerg&#233;tiques et de la sant&#233; de suivre leurs actifs et leurs &#233;quipes gr&#226;ce &#224; une solution de positionnement ind&#233;pendante des infrastructures existantes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Blast Club, Sofilaro, &#201;ric Larchev&#234;que, Business Angels</p><div><hr></div><p><strong>Linc &#183; Amor&#231;age &#183; 8,5 M&#8364; &#183; HRTech</strong><br>Linc d&#233;veloppe un logiciel de gestion de la paie permettant aux cabinets comptables et aux professionnels de la paie d&#8217;automatiser le traitement des bulletins, la conformit&#233; r&#233;glementaire et la gestion des donn&#233;es collaborateurs via une plateforme collaborative aliment&#233;e par l&#8217;IA.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Headline, Resonance, Founders Future, Acadian Ventures, Adnexus, 50 Partners, Motier, 199 Ventures, Aonia, Better Angle, Clover, Business Angels</p><div><hr></div><p><strong>Sopht &#183; S&#233;rie A &#183; 7,5 M&#8364; &#183; ClimateTech</strong><br>Sopht d&#233;veloppe un logiciel d&#8217;optimisation des co&#251;ts IT et de la durabilit&#233; num&#233;rique permettant aux entreprises de r&#233;duire leurs d&#233;penses cloud et infrastructure tout en am&#233;liorant l&#8217;efficacit&#233; environnementale et la r&#233;silience de leurs op&#233;rations digitales.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Ternel, Axeleo Capital, Wind Capital, FDJ United Ventures</p><div><hr></div><p><strong>Blyyd &#183; Growth Equity &#183; 5 M&#8364; &#183; Logistics &amp; Delivery</strong><br>Blyyd d&#233;veloppe des tracteurs de parc &#233;lectriques permettant aux op&#233;rateurs logistiques, centres de distribution et sites industriels de d&#233;carboner les op&#233;rations de d&#233;placement de remorques gr&#226;ce &#224; des v&#233;hicules z&#233;ro &#233;mission et des outils de gestion de flotte.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Meridiam</p><div><hr></div><p><strong>Beams &#183; Amor&#231;age &#183; 3 M&#8364; &#183; MedTech</strong><br>Beams d&#233;veloppe une plateforme de d&#233;tection perop&#233;ratoire du cancer et d&#8217;extraction tissulaire permettant aux chirurgiens d&#8217;identifier et de retirer des tissus tumoraux r&#233;siduels pendant les interventions oncologiques gr&#226;ce &#224; une technologie guid&#233;e par imagerie nucl&#233;aire.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Investessor, Yvelines Essonne Saclay Invest, Paris Saclay Business Angels, Family Offices, Business Angels</p><div><hr></div><p><strong>Haiku &#183; Amor&#231;age &#183; 3 M&#8364; &#183; LegalTech</strong><br>Haiku d&#233;veloppe une solution SaaS s&#233;curis&#233;e, personnalis&#233;e et enrichie par l&#8217;IA permettant aux cabinets d&#8217;avocats d&#8217;acc&#233;der instantan&#233;ment aux informations essentielles sur leurs dossiers.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Newfund, M Capital</p><div><hr></div><p><strong>Ginjer.ai &#183; Amor&#231;age &#183; 1 M&#8364; &#183; AI</strong><br>Ginjer.ai d&#233;veloppe une plateforme de media intelligence qui permet aux &#233;quipes marketing et m&#233;dia d&#8217;analyser, gr&#226;ce &#224; l&#8217;IA, la mani&#232;re dont les marques communiquent, investissent et d&#233;ploient des strat&#233;gies publicitaires.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Kima Ventures, Super Capital, Bpifrance</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 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srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" 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data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-26?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-26?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[🗞️ Le tour de table de la semaine 25]]></title><description><![CDATA[Actualit&#233;s, nouveaut&#233;s techs, tendances early-stage : retrouvez chaque vendredi le tour de table de la semaine]]></description><link>https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-25</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-25</guid><pubDate>Fri, 26 Jun 2026 15:03:17 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/df28a66f-3ddf-44bf-a30c-e40c8c21f260_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gIyR!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gIyR!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gIyR!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775ed3d8-a5bf-4e21-9654-c19cb27c29a4_5000x1300.png" width="1456" height="379" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Il y a trois mois, Alan levait 100 millions d'euros. Cette semaine, 480 millions de plus. La bo&#238;te n'en avait pas besoin : rentable en France, 800 millions d'ARR, tr&#233;sorerie confortable. </p><p>Pendant ce temps, Washington a d&#233;cid&#233; qu'il ne fallait plus attendre la sortie d'un mod&#232;le d'IA pour l'encadrer. GPT-5.6 vient d'&#234;tre restreint avant m&#234;me son lancement. Un point partout, il n&#8217;y a plus de jaloux entre OpenAI et Anthropic. </p><p>Et sinon, une EdTech fran&#231;aise fond&#233;e en 2008 a boucl&#233; son premier LBO apr&#232;s 18 ans d&#8217;autofinancement total. </p><div><hr></div><h4 style="text-align: center;">Au programme</h4><ul><li><p><strong>Deep Dive</strong> : le tournant du contr&#244;le pr&#233;ventif des mod&#232;les d'IA</p></li><li><p><strong>L&#8217;Expresso</strong> : Peter Thiel mise 500 M&#8364; sur la d&#233;fense europ&#233;enne</p></li><li><p><strong>Equity Story</strong> : une lev&#233;e de force, une ambition mondiale</p></li><li><p><strong>Side Pocket</strong> : les pannes IA multipli&#233;es par 8 en un an</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" 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pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>La m&#233;canique du contr&#244;le s&#8217;est invers&#233;e</strong></p><p>Les &#201;tats-Unis ont jusqu&#8217;&#224; r&#233;cemment attendu qu&#8217;un mod&#232;le d&#8217;IA soit lanc&#233; avant de d&#233;cider de son acc&#232;s &#224; l&#8217;&#233;tranger. La s&#233;quence des deux derni&#232;res semaines a chang&#233; la donne.</p><p>Le 12 juin, l'administration Trump a ordonn&#233; &#224; Anthropic de couper l'acc&#232;s &#224; Fable 5 et Mythos 5, ses deux mod&#232;les les plus avanc&#233;s, pour les entreprises et ressortissants &#233;trangers. Anthropic a d&#233;clar&#233; d&#233;sapprouver la d&#233;cision mais a obtemp&#233;r&#233;. Cette semaine, GPT-5.6 d'OpenAI s'est retrouv&#233; encadr&#233; avant m&#234;me d'avoir &#233;t&#233; rendu public. Deux laboratoires diff&#233;rents, deux mod&#232;les de pointe, m&#234;me traitement. Les mod&#232;les d'IA fronti&#232;re sont d&#233;sormais trait&#233;s comme des actifs strat&#233;giques au m&#234;me titre que les semi-conducteurs ou les technologies de d&#233;fense.</p><p>Pour les startups europ&#233;ennes qui construisent sur des APIs am&#233;ricaines, les implications sont concr&#232;tes. Une stack bas&#233;e sur OpenAI ou Anthropic fonctionne d&#233;sormais comme un actif expos&#233; aux d&#233;cisions de l&#8217;ex&#233;cutif am&#233;ricain, que le fournisseur lui-m&#234;me ne peut pas anticiper. Les entreprises qui ont b&#226;ti des produits entiers sur ces fondations r&#233;&#233;valuent leur d&#233;pendance. Avec une logique de pr&#233;emption d&#233;sormais &#233;tablie, attendre que le probl&#232;me se pose n&#8217;est plus une strat&#233;gie d&#233;fendable.</p><p>L&#8217;ironie du calendrier n&#8217;&#233;chappe &#224; personne dans l&#8217;&#233;cosyst&#232;me : Mistral AI est toujours en discussions pour lever 3 milliards d&#8217;euros &#224; 20 milliards de valorisation. La souverainet&#233; n&#8217;est plus un argument marketing. Elle commence &#224; avoir une valeur &#233;conomique quantifiable pour les clients europ&#233;ens qui en avaient besoin pour le croire.</p><div><hr></div><h5 style="text-align: center;"><span data-color="#3c414d" style="color: rgb(60, 65, 77);">Partenaire du jour</span></h5><h4 style="text-align: center;">Votre prochaine lev&#233;e se pr&#233;pare d&#232;s aujourd&#8217;hui</h4><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Qore!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Qore!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Qore!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!Qore!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Qore!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Produit, recrutement, clients, et entre deux rendez-vous commerciaux, il faut aussi penser &#224; la tr&#233;sorerie, pr&#233;parer le prochain tour de table, et r&#233;pondre aux questions du banquier. La finance reste souvent la variable d&#8217;ajustement, trait&#233;e dans l&#8217;urgence plut&#244;t qu&#8217;anticip&#233;e.</p><p>C&#8217;est pr&#233;cis&#233;ment l&#224; qu&#8217;intervient Segrea Partners.</p><p><strong>Accompagnement lev&#233;e de fonds :</strong> de la structuration du dossier jusqu&#8217;au closing, Segrea Partners &#233;paule les startups early-stage dans leurs op&#233;rations de lev&#233;e de fonds early-stage.</p><ul><li><p><strong>Objectif</strong> : s&#233;curiser l&#8217;op&#233;ration sans y laisser six mois de roadmap produit.</p></li></ul><p><strong>Compl&#233;ments bancaires :</strong> une lev&#233;e en equity ne couvre pas tout, et emprunter dilue moins que lever. Segrea Partners structure les financements bancaires compl&#233;mentaires, pour construire un mix capital et dette plus efficace qu&#8217;une d&#233;pendance totale &#224; l&#8217;equity.</p><p><strong>Direction financi&#232;re &#224; temps partag&#233; :</strong> une startup n&#8217;a pas besoin d&#8217;un CFO &#224; temps plein d&#232;s le d&#233;but. Segrea Partners propose un service de direction financi&#232;re quelques jours par mois : reporting investisseurs, structuration financi&#232;re, pilotage de la tr&#233;sorerie.</p><ul><li><p>Pour gagner en souplesse op&#233;rationnelle, sans le co&#251;t ni l&#8217;engagement d&#8217;un recrutement &#224; temps plein.</p></li></ul><p><strong>Vous investissez en startup ?</strong></p><p>Segrea Partners construit aussi un r&#233;seau d&#8217;investisseurs early-stage. Si vous &#234;tes business angel ou investisseur actif, contactez-nous pour rejoindre le r&#233;seau et acc&#233;der aux dossiers accompagn&#233;s par Segrea Partners.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contacter Segrea Partners&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.segrea-partners.com/contact"><span>Contacter Segrea Partners</span></a></p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!80Wb!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>&#128737;&#65039; Peter Thiel mise 500 M&#8364; sur la d&#233;fense europ&#233;enne :</strong> STARK, startup allemande de technologie militaire, a lev&#233; 500 millions d&#8217;euros avec le soutien de Thiel Capital. L&#8217;op&#233;ration valorise la soci&#233;t&#233; aux alentours de 3 milliards d&#8217;euros. STARK d&#233;veloppe des syst&#232;mes autonomes pour la d&#233;fense et s&#8217;inscrit dans une vague plus large de capital am&#233;ricain en train de prendre position sur le march&#233; de la d&#233;fense tech europ&#233;enne. Le timing est symptomatique : &#224; quelques semaines du bouclage du fonds franco-allemand E2D (500 M&#8364; lui aussi, annonc&#233; &#224; VivaTech), la comp&#233;tition pour financer les futurs champions de la d&#233;fense autonome europ&#233;enne s&#8217;organise des deux c&#244;t&#233;s de l&#8217;Atlantique.</p><p><strong>&#127979; Pearltrees boucle son premier LBO apr&#232;s 18 ans d'autofinancement :</strong> l'EdTech fran&#231;aise, pr&#233;sente dans 1 500 coll&#232;ges et lyc&#233;es fran&#231;ais avec 1,5 million d'utilisateurs, annonce l'entr&#233;e du Fonds Strat&#233;gique des Transitions (ISALT, d&#233;tenu &#224; 39 % par la Caisse des D&#233;p&#244;ts) &#224; 46 % de son capital, et de RAISE Impact &#224; 31 %. Les actionnaires historiques sortent proprement. La plateforme affiche un ARR sup&#233;rieur &#224; 10 M&#8364; et 50 % de croissance annuelle maintenue depuis 8 ans, sans jamais diluer ses fondateurs. La Caisse des D&#233;p&#244;ts entre dans une EdTech souveraine pendant que les GAFAM avancent leurs pions sur l'&#233;ducation fran&#231;aise. Le signal est lisible.</p><p><strong>&#129302; OpenAI et Broadcom d&#233;voilent une puce d&#233;di&#233;e &#224; l&#8217;inf&#233;rence :</strong> les deux groupes ont annonc&#233; jeudi une puce optimis&#233;e pour les mod&#232;les de langage. OpenAI rejoint Apple, Google, Amazon et Meta dans la course aux siliciums propri&#233;taires pour sortir de la d&#233;pendance &#224; Nvidia. La tendance est structurelle : les grands acteurs de l&#8217;IA veulent contr&#244;ler leur infrastructure d&#8217;inf&#233;rence. Pour les startups qui consomment massivement de la puissance GPU, la vraie question est de savoir si cette course entre g&#233;ants finira par faire baisser les co&#251;ts d&#8217;acc&#232;s, ou si elle accentuera la concentration entre quelques plateformes.</p><p><strong>&#128202; Claude grignote du terrain sur ChatGPT chez les utilisateurs payants :</strong> une analyse d&#8217;Indagari portant sur des millions de transactions bancaires anonymis&#233;es montre que les paiements hebdomadaires pour Claude ont progress&#233; d&#8217;environ 75 % depuis janvier 2026, abonnements et jetons API confondus. ChatGPT reste devant sur le volume total, mais l&#8217;&#233;cart se resserre en revenus. Pour Anthropic, qui pr&#233;pare son introduction en Bourse cet automne &#224; pr&#232;s de 1 000 milliards de dollars de valorisation, la courbe arrive au bon moment. M&#234;me la semaine o&#249; Washington restreint ses mod&#232;les les plus puissants.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2PuH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2600649,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>Alan survole la French Tech avec une lev&#233;e de 480 millions d&#8217;euros</strong></p><p>Il y a un d&#233;tail dans cette S&#233;rie G de 480 M&#8364; qui m&#233;rite attention : Alan n&#8217;en avait pas besoin. La soci&#233;t&#233; est rentable en France, affiche un ARR proche de 800 millions d&#8217;euros en hausse de 53 % sur un an, et ses dirigeants reconnaissaient eux-m&#234;mes en mars disposer d&#8217;abondantes liquidit&#233;s. Ce tour, men&#233; par Prosus et annonc&#233; trois mois seulement apr&#232;s un tour de 100 millions, est une lev&#233;e de force (sans mauvais jeu de mots).</p><p>Fond&#233;e en 2016 par Jean-Charles Samuelian-Werve et Charles Gorintin, Alan a &#233;t&#233; le premier assureur ind&#233;pendant &#224; obtenir un agr&#233;ment de l&#8217;ACPR en France depuis les ann&#233;es 1980. En dix ans, la bo&#238;te a construit une position solide : 1,1 million d&#8217;adh&#233;rents, plus de 37 000 entreprises clientes, pr&#233;sence en France, Espagne, Belgique et Canada. Sur la PSC (protection sociale compl&#233;mentaire des fonctionnaires), Alan a cr&#233;&#233; la surprise du march&#233; en remportant les appels d&#8217;offres du minist&#232;re de l&#8217;&#201;conomie, des services du Premier ministre, de la DGAC et du minist&#232;re de la Transition &#233;cologique. Des contrats que personne ne lui destinait.</p><p>Le choix de Prosus comme lead est la vraie cl&#233; de lecture. Prosus, qui g&#232;re l&#8217;un des plus grands portefeuilles tech au monde (dont une part historique dans Tencent), n&#8217;apporte pas que du capital : il apporte un r&#233;seau international et une exp&#233;rience du scaling de plateformes grand public. Jean-Charles Samuelian-Werve veut faire de la &#8220;prevention insurance&#8221; une cat&#233;gorie mondiale. Pour &#231;a, il faut des partenaires capables d&#8217;ouvrir de nouveaux march&#233;s.</p><p>Les fonds iront &#224; l&#8217;expansion internationale, &#224; l&#8217;IA m&#233;dicale et &#224; des acquisitions potentielles. Le total lev&#233; depuis la cr&#233;ation d&#233;passe d&#233;sormais 1,2 milliard d&#8217;euros, et l&#8217;objectif affich&#233; est de franchir le milliard d&#8217;ARR avant fin 2026. Kylian Mbapp&#233;, r&#233;cemment devenu actionnaire et ambassadeur, &#233;tait sur sc&#232;ne pour les 10 ans de la bo&#238;te au Quai Branly. La port&#233;e symbolique de la semaine n&#8217;est pas pass&#233;e inaper&#231;ue.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gJPC!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2198530,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/202547661?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Fun fact :</strong> les grandes journ&#233;es de panne des plateformes d&#8217;IA ont &#233;t&#233; multipli&#233;es par 8 en un an aux &#201;tats-Unis, selon une analyse d&#8217;Ookla portant sur 471 jours de donn&#233;es Downdetector. Six journ&#233;es significatives au premier trimestre 2025, 51 au premier trimestre 2026. Claude concentre 39 de ces 51, un chiffre qui refl&#232;te avant tout l&#8217;explosion de son usage : l&#8217;ARR annualis&#233; d&#8217;Anthropic est pass&#233; de 14 &#224; 47 milliards de dollars entre f&#233;vrier et mai. La multiplication par 8 dit quelque chose de pr&#233;cis : l&#8217;IA a chang&#233; de statut. Une panne, aujourd&#8217;hui, arr&#234;te de vrais process m&#233;tier.</p><div><hr></div><p><strong>Le chiffre :</strong> 47 milliards de dollars, c&#8217;est l&#8217;ARR annualis&#233; d&#8217;Anthropic en mai 2026, contre 14 milliards en f&#233;vrier 2025. Seize mois pour multiplier les revenus par 3,3. C&#8217;est dans ce contexte que Washington a jug&#233; ses mod&#232;les suffisamment strat&#233;giques pour en restreindre l&#8217;acc&#232;s &#224; l&#8217;&#233;tranger. Quand une startup approche ce niveau de revenus avec ces taux de croissance, ce qu&#8217;elle d&#233;veloppe n&#8217;est plus trait&#233; comme un produit tech ordinaire.</p><div><hr></div><p><strong>La citation :</strong> <em><mark data-color="#fff2cc" style="background-color: rgb(255, 242, 204); color: rgb(0, 0, 0);">&#171; La sant&#233; ne peut pas attendre, ni que les sympt&#244;mes s&#8217;aggravent, ni un rendez-vous fix&#233; dans six mois. &#187;</mark></em></p><p>Jean-Charles Samuelian-Werve, cofondateur et CEO d&#8217;Alan, &#224; l&#8217;occasion de l&#8217;annonce de la S&#233;rie G cette semaine. Une formule qui r&#233;sume la th&#232;se du deal : l&#8217;assurance sant&#233; telle qu&#8217;elle fonctionne aujourd&#8217;hui traite apr&#232;s coup. Alan parie que l&#8217;IA peut en faire un accompagnement proactif, et que les 480 millions serviront &#224; prouver ce pari &#224; l&#8217;&#233;chelle mondiale.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!eI0l!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><ul><li><p>Walmart rach&#232;te VIBE pour 1,2 milliard de dollars, renfor&#231;ant sa position dans le retail media face &#224; Amazon Advertising.</p></li><li><p>OpenAI lance Daybreak, une suite d&#8217;outils de cybers&#233;curit&#233; offensive et d&#233;fensive accessibles &#224; tous les d&#233;veloppeurs.</p></li><li><p>Une canicule d&#8217;ampleur exceptionnelle touche les deux tiers de la France, avec des h&#244;pitaux sous tension et de nombreux &#233;v&#232;nements annul&#233;s.</p></li><li><p>93 % des startups de la promotion French Tech Next40/120 2026 utilisent Google ou Microsoft pour leurs emails professionnels, selon Next. Dans un &#233;cosyst&#232;me qui parle de souverainet&#233; num&#233;rique &#224; chaque conf&#233;rence, le chiffre m&#233;rite d&#8217;&#234;tre not&#233;.</p></li><li><p>Claude gagne du terrain sur ChatGPT chez les utilisateurs payants : les paiements hebdomadaires pour Claude ont progress&#233; de 75 % depuis janvier 2026, selon une analyse d&#8217;Indagari sur des millions de transactions am&#233;ricaines anonymis&#233;es.</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Xuet!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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Un abonnement, un partage. Simple, efficace !</p><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne fin de semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-25?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-25?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 25 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-25</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-25</guid><pubDate>Mon, 22 Jun 2026 05:01:31 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/90ae07bb-fee7-4706-aa89-24e1349de3fd_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 25&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont lev&#233; <strong>80,8 millions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>8 op&#233;rations</strong>, soit un <strong>ticket moyen de 10,1 millions d&#8217;euros.</strong> Le niveau reste port&#233; par quelques tickets significatifs, dans une semaine plus resserr&#233;e que les gros mill&#233;simes observ&#233;s depuis le d&#233;but d&#8217;ann&#233;e.</p><p>La physionomie de la semaine est marqu&#233;e par Command AI (32 M&#8364;, AI), Prophesee (20 M&#8364;, DeepTech) et Rocapine (11 M&#8364;, Wellness). Derri&#232;re ce trio de t&#234;te, le reste du flux se r&#233;partit entre 8 M&#8364; et 1,7 M&#8364; sur les secteurs suivants : FinTech, Gaming, Aerospace et Mobility.</p><p>L&#8217;<strong>IA reste au c&#339;ur de cette dynamique, avec 45,6 millions d&#8217;euros lev&#233;s</strong>, ce qui repr&#233;sente 57 % des montants lev&#233;s.</p><div><hr></div><h4 style="text-align: center;">Insight de la semaine</h4><p>Le premier semestre 2026 confirme un retour du financement, mais un retour tr&#232;s s&#233;lectif. Les startups fran&#231;aises ont lev&#233; autour de 4 Md&#8364; depuis janvier, contre 3,4 Md&#8364; un an plus t&#244;t, mais sur seulement 193 op&#233;rations. Autrement dit, le rebond ne repose pas sur un march&#233; plus large, mais sur une concentration du capital autour d&#8217;un nombre plus r&#233;duit de paris jug&#233;s strat&#233;giques.</p><p>Cette logique se retrouve pleinement dans la semaine. Command AI dans la d&#233;fense, Prophesee dans la vision neuromorphique ou Osmo X dans les services en orbite ne vendent pas simplement des produits : ces entreprises d&#233;veloppent des briques technologiques profondes, difficiles &#224; reproduire et potentiellement structurantes pour l&#8217;industrie, la s&#233;curit&#233; et les infrastructures critiques.</p><div class="pullquote"><p><strong>Vous investissez en startup ?</strong></p><p>Segrea Partners construit aussi un r&#233;seau d&#8217;investisseurs early-stage. Si vous &#234;tes business angel ou investisseur actif, contactez-nous pour rejoindre le r&#233;seau et acc&#233;der aux dossiers accompagn&#233;s par Segrea Partners.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contactez-nous&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.segrea-partners.com/contact"><span>Contactez-nous</span></a></p></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1955671,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Command AI &#183; S&#233;rie A &#183; 32 M&#8364; &#183; AI</strong><br>Command AI d&#233;veloppe une plateforme de commandement et de contr&#244;le aliment&#233;e par l&#8217;IA, permettant aux forces arm&#233;es de coordonner en temps r&#233;el des op&#233;rations terrestres, a&#233;riennes et maritimes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Blossom Capital, Saab, Expeditions Fund</p><div><hr></div><p><strong>Prophesee &#183; Late Stage &#183; 20 M&#8364; &#183; DeepTech</strong><br>Prophesee d&#233;veloppe un capteur de vision neuromorphique &#233;v&#233;nementiel permettant aux machines de voir comme les humains et de r&#233;agir de fa&#231;on plus rapide, plus autonome et plus s&#251;re.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Critical Path Ventures, IbioNext, 360 Capital Partners, Supernova Capital, Robert Bosch Venture Capital, Business Angels</p><div><hr></div><p><strong>Rocapine &#183; S&#233;rie A &#183; 11 M&#8364; &#183; Wellness</strong><br>Rocapine d&#233;veloppe un studio d&#8217;applications bien-&#234;tre nativement con&#231;u autour de l&#8217;IA, afin de proposer des exp&#233;riences personnalis&#233;es dans le fitness, la nutrition et le bien-&#234;tre.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Educapital, Daphni, Better Angle, Center Court Capital, Athletico Ventures, Ring Capital</p><div><hr></div><p><strong>Green-Got &#183; Crowdfunding &#183; 8 M&#8364; &#183; FinTech</strong><br>Green-Got d&#233;veloppe une plateforme bancaire digitale durable permettant aux particuliers de g&#233;rer leurs d&#233;penses, leur &#233;pargne et leurs investissements via des produits financiers align&#233;s avec des enjeux climatiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Business Angels</p><div><hr></div><p><strong>CardNexus &#183; Amor&#231;age &#183; 3,5 M&#8364; &#183; Gaming</strong><br>CardNexus d&#233;veloppe une marketplace d&#233;di&#233;e aux cartes &#224; collectionner, permettant aux utilisateurs de scanner, authentifier, g&#233;rer et &#233;changer leurs cartes via une plateforme s&#233;curis&#233;e.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Piton Capital, Aquiti, Motier Ventures, Financi&#232;re St James, OPRTRS Club, Kima Ventures, F4, Business Angels</p><div><hr></div><p><strong>Concord.ad &#183; Amor&#231;age &#183; 2,6 M&#8364; &#183; Martech</strong><br>Concord.ad est une plateforme d'IA qui ex&#233;cute et optimise l'achat m&#233;dia sur des plateformes telles que DV360, Meta et Amazon.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Motier Ventures, Better Angle, Drysdale Ventures, Business angels</p><div><hr></div><p><strong>Osmo X &#183; Amor&#231;age &#183; 2 M&#8364; &#183; Aerospace</strong><br>Osmo X d&#233;veloppe des engins spatiaux &#224; propulsion plasma permettant aux op&#233;rateurs satellitaires d&#8217;acc&#233;der &#224; des services en orbite comme le repositionnement, le recalibrage et la gestion des d&#233;bris.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Expansion Ventures (Audacia), Rymdkapital, Business Angels</p><div><hr></div><p><strong>NotiPark &#183; Amor&#231;age &#183; 1,7 M&#8364; &#183; Mobility</strong><br>NotiPark d&#233;veloppe un bo&#238;tier et une plateforme de paiement automatis&#233; du stationnement permettant aux conducteurs et aux gestionnaires de flotte de piloter plus simplement leurs frais de parking.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> NewSchool VC, N1 Fund, Sowefund, Business Angels</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, 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y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-25?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-25?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[🗞️ Le tour de table de la semaine 24]]></title><description><![CDATA[Actualit&#233;s, nouveaut&#233;s techs, tendances early-stage : retrouvez chaque vendredi le tour de table de la semaine]]></description><link>https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-24</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-24</guid><pubDate>Fri, 19 Jun 2026 15:02:40 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/2b2ad7e0-d683-415d-9a49-e403ec194801_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>180 000 personnes d&#233;barquent cette semaine &#224; Porte de Versailles pour les 10 ans de VivaTech.</p><p>En trois jours, on a vu Jeff Bezos r&#234;ver d'envoyer l'industrie lourde sur la Lune, l'&#201;tat fran&#231;ais rompre avec un partenaire am&#233;ricain vieux de dix ans, et la France et l'Allemagne lancer ensemble un fonds de 500 millions pour la d&#233;fense. </p><p>Demain, des robots humano&#239;des danseront sur du Moli&#232;re &#224; la Porte de Versailles. On commence &#224; se demander si la French Tech n'a pas pris le mot "souverainet&#233;" tr&#232;s au s&#233;rieux cette semaine.</p><div><hr></div><h4 style="text-align: center;">Au programme</h4><ul><li><p><strong>Deep Dive</strong> : pourquoi cette &#233;dition de VivaTech ressemble &#224; une d&#233;claration d'ind&#233;pendance</p></li><li><p><strong>L&#8217;Expresso</strong> : la DGSI claque la porte &#224; un partenaire am&#233;ricain de dix ans</p></li><li><p><strong>Equity Story</strong> : la lev&#233;e qui a battu un record en moins d'une heure</p></li><li><p><strong>Side Pocket</strong> : ce que Jeff Bezos pense de votre avenir d'entrepreneur</p></li></ul><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!DUxe!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!DUxe!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!DUxe!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F99ad476d-3899-4ec9-91ef-a743e948682e_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>VivaTech a 10 ans, et l&#8217;Europe a choisi son camp</strong></p><p>Pourquoi on en parle ? VivaTech f&#234;tait sa 10e &#233;dition cette semaine, du 17 au 20 juin, et le salon a chang&#233; d&#8217;&#233;chelle depuis 2016 : 180 000 visiteurs attendus, 15 000 startups, 4 000 partenaires. Mais cette &#233;dition se distingue surtout par son fil rouge assum&#233; : &#8220;Impact, not illusion&#8221;, autrement dit la fin du discours sur l'IA et le d&#233;but des preuves.</p><p><strong>Le casting &#233;tait &#224; la hauteur de l&#8217;ambition.</strong> Jeff Bezos a ouvert le bal mercredi, partageant sa vision d&#8217;une Terre d&#233;barrass&#233;e de son industrie lourde gr&#226;ce &#224; l&#8217;espace. Jeudi, Emmanuel Macron et Narendra Modi sont mont&#233;s sur sc&#232;ne ensemble pour &#233;voquer la gouvernance mondiale de l&#8217;IA, l&#8217;Inde &#233;tant cette ann&#233;e le partenaire IA officiel du salon. Pendant ce temps, l&#8217;Allemagne, d&#233;sign&#233;e Pays de l&#8217;ann&#233;e, multipliait les annonces industrielles aux c&#244;t&#233;s de la France.</p><p><strong>Le mot d&#8217;ordre cette ann&#233;e c&#8217;est la souverainet&#233; technologique</strong>, et il s&#8217;est jou&#233; autant sur sc&#232;ne que dans les couloirs. Foxconn a annonc&#233; la fabrication de serveurs IA Nvidia en France et en R&#233;publique tch&#232;que, une premi&#232;re implantation industrielle en Europe pour le g&#233;ant ta&#239;wanais. La France a mis en avant son nucl&#233;aire comme argument central pour attirer les data centers IA du continent. Et le d&#233;bat d&#8217;ouverture, qui r&#233;unissait Orange, Siemens, PwC, Amundi, IBM, Alibaba, OpenAI et Netflix, a tourn&#233; presque enti&#232;rement autour d&#8217;une question : qui contr&#244;le l&#8217;infrastructure de l&#8217;IA, et &#224; quel prix pour l&#8217;Europe.</p><p>VivaTech a dix ans, et pour la premi&#232;re fois, le salon ressemble moins &#224; une vitrine qu&#8217;&#224; une d&#233;claration d&#8217;intention. Le reste de la semaine en a apport&#233; la d&#233;monstration concr&#232;te, et on en parle juste en dessous.</p><div><hr></div><h5 style="text-align: center;"><span data-color="#3c414d" style="color: rgb(60, 65, 77);">Partenaire du jour</span></h5><h4 style="text-align: center;">Votre prochaine lev&#233;e se pr&#233;pare d&#232;s aujourd&#8217;hui</h4><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Qore!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Qore!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Qore!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Qore!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F88c9e8bb-24eb-4453-9706-a866b6809be2_5000x1300.png 1456w" sizes="100vw"><img 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Produit, recrutement, clients, et entre deux rendez-vous commerciaux, il faut aussi penser &#224; la tr&#233;sorerie, pr&#233;parer le prochain tour de table, et r&#233;pondre aux questions du banquier. La finance reste souvent la variable d&#8217;ajustement, trait&#233;e dans l&#8217;urgence plut&#244;t qu&#8217;anticip&#233;e.</p><p>C&#8217;est pr&#233;cis&#233;ment l&#224; qu&#8217;intervient Segrea Partners.</p><p><strong>Accompagnement lev&#233;e de fonds :</strong> de la structuration du dossier jusqu&#8217;au closing, Segrea Partners &#233;paule les startups early-stage dans leurs op&#233;rations de lev&#233;e de fonds early-stage.</p><ul><li><p><strong>Objectif</strong> : s&#233;curiser l&#8217;op&#233;ration sans y laisser six mois de roadmap produit.</p></li></ul><p><strong>Compl&#233;ments bancaires :</strong> une lev&#233;e en equity ne couvre pas tout, et emprunter dilue moins que lever. Segrea Partners structure les financements bancaires compl&#233;mentaires, pour construire un mix capital et dette plus efficace qu&#8217;une d&#233;pendance totale &#224; l&#8217;equity.</p><p><strong>Direction financi&#232;re &#224; temps partag&#233; :</strong> une startup n&#8217;a pas besoin d&#8217;un CFO &#224; temps plein d&#232;s le d&#233;but. Segrea Partners propose un service de direction financi&#232;re quelques jours par mois : reporting investisseurs, structuration financi&#232;re, pilotage de la tr&#233;sorerie.</p><ul><li><p>Pour gagner en souplesse op&#233;rationnelle, sans le co&#251;t ni l&#8217;engagement d&#8217;un recrutement &#224; temps plein.</p></li></ul><p><strong>Vous investissez en startup ?</strong></p><p>Segrea Partners construit aussi un r&#233;seau d&#8217;investisseurs early-stage. Si vous &#234;tes business angel ou investisseur actif, contactez-nous pour rejoindre le r&#233;seau et acc&#233;der aux dossiers accompagn&#233;s par Segrea Partners.</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contacter Segrea Partners&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.segrea-partners.com/contact"><span>Contacter Segrea Partners</span></a></p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!80Wb!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!80Wb!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!80Wb!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff572c7f7-370f-4618-a3ab-d81dc8b04a84_5000x1300.png 1456w" sizes="100vw"><img 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>&#128737;&#65039; La DGSI claque la porte &#224; Palantir :</strong> S&#233;bastien Lecornu a annonc&#233; lundi la rupture du contrat liant la DGSI &#224; l&#8217;am&#233;ricain Palantir, au profit de la fran&#231;aise ChapsVision. Le contrat, pourtant renouvel&#233; en d&#233;cembre dernier jusqu&#8217;en 2028, tombait &#224; pic la veille de l&#8217;ouverture de VivaTech. Probl&#232;me : Palantir affirme le jour m&#234;me que son contrat reste pleinement en vigueur. ChapsVision, qui vient tout juste de rejoindre l&#8217;indice Next40, doit d&#233;ployer sa plateforme ArgonOS d&#232;s cet &#233;t&#233;. L&#8217;Allemagne avait fait le m&#234;me choix un mois plus t&#244;t. <strong>La guerre froide technologique a un nouveau front, et il se joue &#224; Paris.</strong></p><p><strong>&#127981; Nos r&#233;gions ont du talent, m&#234;me pour Nvidia :</strong> le g&#233;ant ta&#239;wanais Foxconn a annonc&#233; &#224; VivaTech la fabrication en Europe de la plateforme Nvidia Vera Rubin NVL72, en partenariat avec le fran&#231;ais Bull. Les composants seront assembl&#233;s et test&#233;s en R&#233;publique tch&#232;que, puis valid&#233;s dans l&#8217;usine de Bull &#224; Angers. Foxconn investit 120 M&#8364; dans le site. L&#8217;argument de vente c&#244;t&#233; fran&#231;ais : un nucl&#233;aire stable et bon march&#233;, denr&#233;e rare pour alimenter des data centers IA voraces en &#233;nergie.  <strong>C&#8217;est donc une super nouvelle pour les angevins, car l&#8217;infrastructure de l&#8217;IA mondiale a d&#233;sormais une adresse en Maine-et-Loire.</strong></p><p><strong>&#128182; 500 millions pour la d&#233;fense europ&#233;enne :</strong> les fonds AVP (fran&#231;ais) et Earlybird (allemand) lancent E2D, un fonds de croissance de 500 M&#8364; d&#233;di&#233; &#224; la d&#233;fense et au dual-use, premier closing pr&#233;vu fin juin. Objectif : financer en Europe les startups que le secteur poussait jusqu&#8217;ici vers des investisseurs am&#233;ricains. Le constat de d&#233;part, selon AVP : depuis 2019, les &#201;tats-Unis ont capt&#233; environ 85 % du financement en capital-risque des technologies de d&#233;fense li&#233;es &#224; l&#8217;OTAN. E2D vise une vingtaine d&#8217;entreprises, tickets autour de 25 M&#8364; chacun. <strong>L&#8217;alliance franco-allemande vient de se trouver un nouveau terrain d&#8217;entente.</strong></p><p><strong>&#9883;&#65039; La France installe son premier ordinateur quantique tol&#233;rant aux fautes :</strong> GENCI a scell&#233; l&#8217;acquisition de Kity, un calculateur &#224; 18 cat-qubits d&#233;velopp&#233; par la startup fran&#231;aise Alice &amp; Bob. Accessible d&#232;s 2027 pr&#232;s de Paris, ce serait le premier ordinateur quantique tol&#233;rant aux fautes install&#233; dans un centre de calcul europ&#233;en. L&#8217;annonce est tomb&#233;e en marge de VivaTech, dans la continuit&#233; d&#8217;une semaine o&#249; chaque infrastructure strat&#233;gique semblait vouloir prouver son ancrage fran&#231;ais.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2PuH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2PuH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2PuH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6248fec1-c1d4-4fe0-b1bf-8c5ebe559ad2_5000x1300.png" width="1456" height="379" 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p style="text-align: center;"><strong>Green-Got r&#233;alise une lev&#233;e communautaire en&#8230; 52 minutes</strong></p><p>Mercredi, en pleine ouverture de VivaTech, la n&#233;obanque fran&#231;aise Green-Got a battu son propre record : <mark data-color="#d9ead3" style="background-color: rgb(217, 234, 211); color: rgb(0, 0, 0);">8 millions d&#8217;euros lev&#233;s en 52 minutes sur Crowdcube</mark>, aupr&#232;s de 5 286 investisseurs particuliers. Un record pour la plateforme, qui a pourtant d&#233;j&#224; h&#233;berg&#233; des op&#233;rations Revolut. Le d&#233;tail qui change tout : l'argent vient directement des clients, sans passer par un seul fonds.</p><p><strong>Dans les faits :</strong> fond&#233;e en 2020 par Maud Caillaux, Andr&#233;a Ganovelli et Fabien Huet, Green-Got propose des comptes et produits d&#8217;&#233;pargne pens&#233;s autour de la finance durable. La trajectoire de ses lev&#233;es communautaires raconte une histoire en acc&#233;l&#233;ration : 1,9 M&#8364; en 2023, 5,2 M&#8364; en 2024 aupr&#232;s de 3 500 investisseurs, puis ces 8 M&#8364; en moins d&#8217;une heure. Depuis sa pr&#233;c&#233;dente lev&#233;e, la startup revendique plus de 3 milliards d&#8217;euros de transactions trait&#233;es, un revenu mensuel multipli&#233; par 3 et des fonds sous gestion qui ont doubl&#233;.</p><p><strong>Un peu de recul.</strong> Le timing n&#8217;est pas anodin : l&#8217;op&#233;ration intervient juste apr&#232;s l&#8217;obtention par Green-Got de son agr&#233;ment d&#233;finitif d&#8217;&#233;tablissement de paiement d&#233;livr&#233; par l&#8217;ACPR, qui lui ouvre la voie vers une infrastructure de paiement propri&#233;taire. Miser sur sa communaut&#233; plut&#244;t que sur des fonds VC a un co&#251;t en gouvernance, actionnariat fragment&#233;, lev&#233;es institutionnelles plus complexes &#224; organiser ensuite. Mais &#231;a cr&#233;e aussi un effet d&#8217;entra&#238;nement : chaque tour communautaire devient plus rapide que le pr&#233;c&#233;dent, preuve que les clients se transforment en v&#233;ritables ambassadeurs actionnaires.</p><p><strong>Bref.</strong> &#8220;Le soutien renouvel&#233; de notre communaut&#233; nous donne les moyens d&#8217;investir dans les infrastructures technologiques qui soutiendront notre croissance&#8221;, r&#233;sume Maud Caillaux. Avec cet agr&#233;ment en poche et 15 M&#8364; lev&#233;s au total sur Crowdcube, Green-Got vise d&#233;sormais la rentabilit&#233; d&#8217;ici 18 &#224; 24 mois.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gJPC!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, 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srcset="https://substackcdn.com/image/fetch/$s_!gJPC!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!gJPC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd672c140-3bfb-4b43-941b-5d8f3574fdb9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Fun fact :</strong> on vous en parlait la semaine derni&#232;re. Huit robots humano&#239;des doivent se produire demain sur la sc&#232;ne grand public de VivaTech, dans un num&#233;ro m&#234;lant danse et arts martiaux. Et l&#8217;IA entra&#238;n&#233;e sur l&#8217;&#339;uvre de Moli&#232;re pr&#233;sentera bien sa pi&#232;ce in&#233;dite, comme pr&#233;vu. Rendez-vous samedi pour savoir si le th&#233;&#226;tre fran&#231;ais a trouv&#233; sa rel&#232;ve robotique.</p><div><hr></div><p><strong>Le chiffre :</strong> 85 %. C&#8217;est la part du financement en capital-risque des technologies de d&#233;fense li&#233;es &#224; l&#8217;OTAN capt&#233;e par les investisseurs am&#233;ricains depuis 2019, selon les fonds AVP et Earlybird. Un chiffre qui explique &#224; lui seul pourquoi l&#8217;Europe se pr&#233;cipite cette ann&#233;e pour combler l&#8217;&#233;cart, &#224; coups de fonds d&#233;di&#233;s et d&#8217;alliances franco-allemandes.</p><div><hr></div><p><strong>La citation :</strong> <em><mark data-color="#fff2cc" style="background-color: rgb(255, 242, 204); color: rgb(0, 0, 0);">&#171; Il n&#8217;y a jamais eu de meilleure &#233;poque pour &#234;tre entrepreneur. &#187;</mark></em></p><p>Jeff Bezos, sur la sc&#232;ne principale de VivaTech mercredi, en plein discours sur la conqu&#234;te spatiale et l&#8217;intelligence artificielle. Le fondateur d&#8217;Amazon a balay&#233; les craintes de destruction d&#8217;emplois li&#233;es &#224; l&#8217;IA, &#233;voquant plut&#244;t une p&#233;nurie de main-d&#8217;&#339;uvre &#224; venir. Optimisme assum&#233;, dans une semaine o&#249; l&#8217;Europe, elle, s&#8217;inqui&#233;tait surtout de qui contr&#244;le l&#8217;infrastructure.</p><div><hr></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!eI0l!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!eI0l!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0c6eca70-a8fe-4014-bbf3-e9602dae03a1_5000x1300.png 424w, 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><ul><li><p>Les cinq finalistes du Female Founder Award, dont la Fran&#231;aise Robeaut&#233; (microrobots neurochirurgicaux), ont pitch&#233; jeudi. La laur&#233;ate est r&#233;v&#233;l&#233;e aujourd&#8217;hui lors de la c&#233;r&#233;monie VivaTech Startup Prizes.</p></li><li><p>AWS et Nvidia ont r&#233;uni sept startups europ&#233;ennes, dont cinq fran&#231;aises, dans leur Startup Village &#224; VivaTech, pour pr&#233;senter des cas d&#8217;usage IA d&#233;j&#224; en production.</p></li><li><p>Mistral AI resterait en discussions pour une lev&#233;e d&#8217;environ 3 milliards d&#8217;euros, qui ferait grimper sa valorisation &#224; 20 milliards. Toujours pas de confirmation officielle.</p></li><li><p>France Travail a d&#233;voil&#233; &#224; VivaTech une plateforme d&#233;di&#233;e aux m&#233;tiers du num&#233;rique et de l&#8217;IA, ouverture grand public pr&#233;vue &#224; la rentr&#233;e.</p></li><li><p>Plus de 85 % des d&#233;put&#233;s et collaborateurs parlementaires utilisent d&#233;j&#224; l&#8217;IA au quotidien, selon un rapport parlementaire qui pointe aussi des risques de fuites de donn&#233;es.</p><div><hr></div></li></ul><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Xuet!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Xuet!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Xuet!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f4fba8c-8356-41fe-9d77-ab8dfcc6d9eb_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Vous souhaitez nous soutenir ? Un abonnement, un partage. Simple, efficace !</p><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne fin de semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-24?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/p/le-tour-de-table-de-la-semaine-24?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:&quot;button-wrapper&quot;}" data-component-name="ButtonCreateButton"><a class="button primary button-wrapper" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 24 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-24</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-24</guid><pubDate>Mon, 15 Jun 2026 05:01:45 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/2e8c19b1-cfec-4fad-b7b4-e7cacd639e59_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947538,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 24&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont lev&#233; <strong>269 millions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>14 op&#233;rations</strong>, soit un ticket moyen de <strong>19,2 millions d&#8217;euros</strong>. Le niveau est port&#233; par deux tours majeurs en FinTech et D&#233;fense, qui concentrent &#224; eux seuls plus de 74 % des montants lev&#233;s.</p><p>La physionomie de la semaine est marqu&#233;e par Morpho (150 M&#8364;, FinTech), Alta Ares (50 M&#8364;, D&#233;fense) et Eclipse (20 M&#8364;, ClimateTech). </p><p>Derri&#232;re ce trio de t&#234;te, le reste du flux se r&#233;partit entre 12 M&#8364; et 1,3 M&#8364; sur les secteurs suivants : AI, FinTech, ClimateTech, HealthTech, DeepTech, M&#233;dia et Greentech.</p><p><strong>L&#8217;IA reste au c&#339;ur de cette dynamique avec 79,1 M&#8364; lev&#233;s</strong>, ce qui repr&#233;sente 29,4 % des montants lev&#233;s.</p><h2>Insight de la semaine</h2><p>Les investissements de la semaine mettent en avant une m&#234;me th&#232;se de march&#233; : le d&#233;placement de la cr&#233;ation de valeur des applications vers les infrastructures critiques.</p><p>Morpho, Alta Ares, Eclipse et Kyber incarnent bien ce mouvement : au-del&#224; du produit, ces startups construisent les rails financiers, militaires et logiciels sur lesquels pourraient reposer les march&#233;s de demain.</p><p>C&#8217;est sans doute l&#224; que se concentrent aujourd&#8217;hui les paris les plus strat&#233;giques, avec en toile de fond une m&#234;me question pour l&#8217;Europe : comment b&#226;tir des champions puissants sans sacrifier l&#8217;&#233;quilibre concurrentiel ?</p><div class="pullquote"><p>Nous ouvrons actuellement la liste d&#8217;attente du club deal de Segrea Partners aux <strong>business angels</strong> et <strong>operating partners</strong> souhaitant acc&#233;der &#224; une s&#233;lection d&#8217;opportunit&#233;s early-stage.</p><p><strong>Int&#233;ress&#233;(e) ?</strong></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.segrea-partners.com/contact&quot;,&quot;text&quot;:&quot;Contactez-nous&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.segrea-partners.com/contact"><span>Contactez-nous</span></a></p></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1955671,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Morpho &#183; ICO &#183; 150 M&#8364; &#183; DeFi</strong><br>Morpho d&#233;veloppe une infrastructure d&#233;centralis&#233;e de pr&#234;t et d&#8217;emprunt permettant aux institutions financi&#232;res, asset managers et fintechs d&#8217;acc&#233;der &#224; des march&#233;s de cr&#233;dit on-chain et de les piloter via des protocoles blockchain.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Paradigm, a16z crypto, Ribbit, Ledger Cathay, NJJ Capital, Bpifrance, Apollo, Circle Ventures, VanEck, Variant, Wintermute Ventures, Prelude, IOSG, Hashkey, Mirana, SBI Group, Business Angels, Strategic Partners</p><div><hr></div><p><strong>Alta Ares &#183; S&#233;rie A &#183; 50 M&#8364; &#183; D&#233;fense</strong><br>Alta Ares d&#233;veloppe des technologies de d&#233;fense pilot&#233;es par l&#8217;IA permettant aux acteurs militaires et &#233;tatiques de d&#233;ployer des solutions de contre-drones, d&#8217;interception de missiles et d&#8217;intelligence de terrain.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Air Street Capital, Cherry Ventures, OTB Ventures, Harpoon Ventures, Starburst Venture, Expansion</p><div><hr></div><p><strong>Eclipse &#183; S&#233;rie A &#183; 20 M&#8364; &#183; ClimateTech</strong><br>Eclipse d&#233;veloppe un logiciel d&#8217;optimisation du stockage d&#8217;&#233;nergie par batteries permettant aux exploitants d&#8217;actifs renouvelables de maximiser les revenus issus du stockage et des op&#233;rations de trading sur l&#8217;&#233;lectricit&#233;.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> BNP Paribas, Noria, Wind Capital, Business Angels</p><div><hr></div><p><strong>Mendo &#183; S&#233;rie A &#183; 12 M&#8364; &#183; IA</strong><br>Mendo d&#233;veloppe un logiciel d&#8217;adoption de l&#8217;IA en entreprise destin&#233; &#224; acc&#233;l&#233;rer le d&#233;ploiement et l&#8217;usage effectif de l&#8217;IA g&#233;n&#233;rative et des agents autonomes dans les organisations.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Ventech, Educapital, Ovni Capital, Tomcat</p><div><hr></div><p><strong>Finovox &#183; S&#233;rie A &#183; 8,2 M&#8364; &#183; FinTech</strong><br>Finovox d&#233;veloppe un logiciel de d&#233;tection de fraude documentaire aliment&#233; par l&#8217;IA, permettant aux assureurs, pr&#234;teurs et institutions financi&#232;res d&#8217;authentifier les documents et d&#8217;automatiser certains workflows de conformit&#233;.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> TX Ventures, Auriga Cyber Ventures, MTech Capital, Start Ventures, Force Over Mass, FDJ United Ventures, Blast Club, Groupe IMA, Vaex Capital, Super Capital, Side Angels</p><div><hr></div><p><strong>Geocorail (Seacure) &#183; Growth Equity &#183; 7,4 M&#8364; &#183; ClimateTech</strong><br>Geocorail d&#233;veloppe des infrastructures marines bio-inspir&#233;es con&#231;ues pour lutter contre l&#8217;&#233;rosion c&#244;ti&#232;re et restaurer la biodiversit&#233; marine.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Cr&#233;dit Mutuel Impact, Truffle Capital, Business Angels</p><div><hr></div><p><strong>Uncovr &#183; Amor&#231;age &#183; 6,1 M&#8364; &#183; HealthTech</strong><br>Uncovr d&#233;veloppe une technologie d&#8217;analyse vid&#233;o chirurgicale aliment&#233;e par l&#8217;IA pour automatiser la documentation op&#233;ratoire.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Index Ventures, Seedcamp, No Label Ventures, Entrepreneurs First, Frst, Business Angels</p><div><hr></div><p><strong>Kyber &#183; Amor&#231;age &#183; 4,3 M&#8364; &#183; DeepTech</strong><br>Kyber d&#233;veloppe un logiciel de t&#233;l&#233;op&#233;ration &#224; tr&#232;s faible latence permettant de piloter en temps r&#233;el des robots, syst&#232;mes autonomes et agents connect&#233;s &#224; grande &#233;chelle.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Lightspeed Venture Partners, Ovni Capital, Kima Ventures</p><div><hr></div><p><strong>Rematch &#183; Growth Equity &#183; 3 M&#8364; &#183; Culture / m&#233;dias</strong><br>Rematch d&#233;veloppe une plateforme m&#233;dia communautaire d&#233;di&#233;e au sport amateur, permettant aux joueurs, clubs et f&#233;d&#233;rations de capter, partager et mon&#233;tiser des contenus sportifs.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bpifrance, Intervalle Capital, Business angels</p><div><hr></div><p><strong>Builder Assist &#183; Amor&#231;age &#183; 2 M&#8364; &#183; DeepTech</strong><br>Builder Assist d&#233;veloppe des syst&#232;mes robotiques pour la construction afin d&#8217;automatiser les t&#226;ches p&#233;nibles et &#224; risque sur les chantiers.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> n.a.</p><div><hr></div><p><strong>Hit Mag &#183; Amor&#231;age &#183; 1,6 M&#8364; &#183; DeepTech</strong><br>Hit Mag d&#233;veloppe des aimants permanents souverains, sans terres rares, con&#231;us pour &#234;tre produits en Europe avec une approche plus durable.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Lita, Bpifrance, SATT Ouest Valorisation, Breizh Up, business angels</p><div><hr></div><p><strong>R&#233;empro &#183; Amor&#231;age &#183; 1,6 M&#8364; &#183; Greentech</strong><br>R&#233;empro d&#233;veloppe des solutions de r&#233;emploi pour aider les entreprises &#224; r&#233;duire leurs d&#233;chets, limiter l&#8217;extraction de ressources naturelles et diminuer leurs &#233;missions de CO2.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Finorpa Gestion, Makesense</p><div><hr></div><p><strong>Eledone &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; IA</strong><br>Eledone d&#233;veloppe un mod&#232;le d&#8217;IA destin&#233; &#224; automatiser les &#233;changes d&#8217;informations entre clients et fournisseurs dans les secteurs B2B.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Wind, Business angels</p><div><hr></div><p><strong>Mobioos &#183; Amor&#231;age &#183; 1,3 M&#8364; &#183; DeepTech</strong><br>Mobioos d&#233;veloppe un logiciel de context engineering aliment&#233; par l&#8217;IA, con&#231;u pour relier la connaissance d&#8217;entreprise, les processus m&#233;tier et le code source afin de d&#233;ployer des agents intelligents plus pertinents.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bombellii Ventures, Business Angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Superprof :</strong> apr&#232;s l&#8217;Italie, la plateforme fran&#231;aise rach&#232;te le br&#233;silien Profes.com.br pour renforcer sa pr&#233;sence en Am&#233;rique du Sud et mettre la main sur une communaut&#233; de 84 000 professeurs et 571 000 &#233;l&#232;ves. Il s&#8217;agit de la 20e acquisition de Superprof, qui continue de centraliser sa croissance internationale depuis Paris avec l&#8217;ambition d&#8217;atteindre 100 millions d&#8217;euros de chiffre d&#8217;affaires et une pr&#233;sence dans 100 pays.</p><div><hr></div><p><strong>OVHcloud :</strong> le groupe fran&#231;ais de cloud entre en n&#233;gociations exclusives pour racheter Gladia, startup d&#8217;IA vocale sp&#233;cialis&#233;e dans la transcription multilingue, qui revendique 2 000 clients entreprises. Cette op&#233;ration s&#8217;inscrit dans une strat&#233;gie d&#8217;acc&#233;l&#233;ration dans l&#8217;IA, apr&#232;s les acquisitions r&#233;centes de Dragon LLM et Seald.</p><div><hr></div><p><strong>EuraTechnologies :</strong> apr&#232;s les dizaines de milliards d&#8217;euros annonc&#233;s pour des m&#233;ga-data centers dans les Hauts-de-France, Lille accueille un sommet d&#233;di&#233; aux usages concrets de l&#8217;IA au sein d&#8217;EuraTechnologies. Baptis&#233; &#171; L&#8217;IA avec nous &#187;, l&#8217;&#233;v&#233;nement doit r&#233;unir pr&#232;s de 1 000 participants et une cinquantaine d&#8217;intervenants pour d&#233;placer le d&#233;bat des infrastructures vers leurs effets sur l&#8217;emploi, les services publics, la formation et la souverainet&#233; num&#233;rique.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-24?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-24?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 23 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-23</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-23</guid><pubDate>Mon, 08 Jun 2026 05:01:52 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/df7cc29f-5fab-4ba7-aa68-c078e352c84b_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 23&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont lev&#233; <strong>235,7 millions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>9 op&#233;rations</strong>, soit un <strong>ticket moyen de</strong> <strong>26,2 millions d&#8217;euros</strong>. Le niveau est port&#233; par trois gros tours en quantique, foodtech et healthtech, qui donnent &#224; la semaine une physionomie beaucoup plus dense.</p><p>La semaine est largement domin&#233;e par <strong>Quobly (115 M&#8364;)</strong>, devant <strong>Innovafeed (51 M&#8364;)</strong> et <strong>Semble (35 M&#8364;)</strong>. Derri&#232;re ce trio, <strong>Innovorder (20 M&#8364;)</strong> compl&#232;te le haut de tableau, tandis que le reste du flux se r&#233;partit entre deeptech, healthtech, IA, proptech et beautytech, sur des tickets plus modestes mais tr&#232;s orient&#233;s usages op&#233;rationnels.</p><p>L&#8217;intelligence artificielle reste visible dans cette &#233;dition, avec <strong>NP Company, Noa et Upstream</strong> qui cumulent <strong>13,6 M&#8364;</strong>.</p><div class="pullquote"><p>Vous appr&#233;ciez anti-dealflow ? Le meilleur moyen de nous soutenir est simple : partagez cette &#233;dition &#224; une personne de votre r&#233;seau qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup.</p><p>La newsletter est gratuite, et chaque partage nous aide &#224; d&#233;velopper l&#8217;audience !</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1955671,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Quobly &#183; S&#233;rie A &#183; 115 M&#8364; &#183; Quantique</strong><br>Quobly d&#233;veloppe une technologie d&#8217;informatique quantique sur silicium, con&#231;ue pour rendre possibles des processeurs quantiques scalables compatibles avec les infrastructures existantes de fabrication de semi-conducteurs.</p><p>Tour de table r&#233;alis&#233; par : Bpifrance, SEALSQ, STMicroelectronics, EIC Fund, Blast, ALIAD, Innovacom</p><div><hr></div><p><strong>Innovafeed &#183; Late VC &#183; 51 M&#8364; &#183; FoodTech</strong><br>Innovafeed d&#233;veloppe et produit des ingr&#233;dients &#224; base d&#8217;insectes, destin&#233;s aux fabricants d&#8217;alimentation animale et aux acteurs de l&#8217;aquaculture &#224; la recherche d&#8217;alternatives durables aux prot&#233;ines et huiles traditionnelles.</p><p>Tour de table r&#233;alis&#233; par : Creadev, QIA, Temasek, ABC Impact, ADM, French Food Capital</p><div><hr></div><p><strong>Semble &#183; S&#233;rie C &#183; 35 M&#8364; &#183; HealthTech</strong><br>Semble d&#233;veloppe une plateforme cloud de gestion de cabinet permettant aux professionnels de sant&#233; de piloter l&#8217;administration patient, les rendez-vous, la facturation et les workflows cliniques.</p><p>Tour de table r&#233;alis&#233; par : Revaia, Partech, Mercia Ventures, Octopus Ventures</p><div><hr></div><p><strong>Innovorder &#183; Growth &#183; 20 M&#8364; &#183; Hospitality</strong><br>Innovorder d&#233;veloppe une plateforme omnicanale de gestion pour la restauration, permettant aux op&#233;rateurs de digitaliser la prise de commande, le paiement et les op&#233;rations en point de vente comme en ligne.</p><p>Tour de table r&#233;alis&#233; par : UL Invest, Business Angels</p><div><hr></div><p><strong>NP Company &#183; Amor&#231;age &#183; 6 M&#8364; &#183; DeepTech</strong><br>NP Company d&#233;veloppe des mod&#232;les de fondation en physique aliment&#233;s par l&#8217;IA, permettant aux industriels d&#8217;acc&#233;l&#233;rer leurs workflows de simulation, d&#8217;ing&#233;nierie et de d&#233;veloppement produit.</p><p>Tour de table r&#233;alis&#233; par : Partech, Peugeot Invest, First Kind, Business Angels</p><div><hr></div><p><strong>Noa &#183; Amor&#231;age &#183; 5 M&#8364; &#183; HealthTech</strong><br>Noa d&#233;veloppe une plateforme de bien-&#234;tre digital aliment&#233;e par l&#8217;IA, permettant aux utilisateurs de suivre des programmes personnalis&#233;s de fitness, de Pilates et d&#8217;hygi&#232;ne de vie.</p><p>Tour de table r&#233;alis&#233; par : Founders Future, Kima Ventures, Eden, Intuition, Drysdale Venture, business angels</p><div><hr></div><p><strong>Upstream &#183; Amor&#231;age &#183; 2,6 M&#8364; &#183; IA</strong><br>Upstream d&#233;veloppe un espace de travail email aliment&#233; par l&#8217;IA, permettant aux professionnels d&#8217;automatiser la communication, la coordination et la gestion des workflows entre &#233;quipes.</p><p>Tour de table r&#233;alis&#233; par : Y Combinator, Connect Ventures, Business Angels</p><div><hr></div><p><strong>Primomanda &#183; Amor&#231;age &#183; 600 k&#8364; &#183; Proptech</strong><br>Primomanda d&#233;veloppe une solution destin&#233;e aux professionnels de l&#8217;immobilier pour acc&#233;der plus facilement &#224; des mandats exclusifs.</p><p>Tour de table r&#233;alis&#233; par : business angels</p><div><hr></div><p><strong>TIVA &#183; Amor&#231;age &#183; 525 k&#8364; &#183; Beautytech</strong><br>TIVA d&#233;veloppe des cosm&#233;tiques de performance sp&#233;cialement con&#231;us pour aider les athl&#232;tes &#224; atteindre leur plein potentiel.</p><p>Tour de table r&#233;alis&#233; par : APEX Ventures, business angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Souverainet&#233; num&#233;rique :</strong> la Commission europ&#233;enne propose de r&#233;server aux fournisseurs europ&#233;ens les contrats publics d&#8217;IA et de cloud dans les usages les plus sensibles, notamment en mati&#232;re de s&#233;curit&#233; et de d&#233;fense. L&#8217;objectif : &#233;viter toute d&#233;pendance critique &#224; des acteurs &#233;trangers, avec des exigences gradu&#233;es allant de l&#8217;h&#233;bergement des donn&#233;es en Europe jusqu&#8217;&#224; un contr&#244;le renforc&#233; des services pour pr&#233;venir tout risque de &#171; kill switch &#187;.</p><div><hr></div><p><strong>Ornikar :</strong> le sp&#233;cialiste fran&#231;ais de la formation &#224; la conduite rach&#232;te son concurrent En Voiture Simone, dans une op&#233;ration de consolidation majeure qui donne naissance &#224; un ensemble couvrant plus de 10 % du march&#233; des auto-&#233;coles en France. Avec pr&#232;s de 150 millions d&#8217;euros de revenus cumul&#233;s, le groupe entend acc&#233;l&#233;rer en Europe, notamment par croissance externe.</p><div><hr></div><p><strong>QVEMA Amplify x Tomcat :</strong> la plateforme entrepreneuriale issue de &#171; Qui veut &#234;tre mon associ&#233; ? &#187; s&#8217;allie &#224; Tomcat pour lancer un acc&#233;l&#233;rateur destin&#233; aux startups B2B Tech &#233;cart&#233;es du format t&#233;l&#233;vis&#233;. Les soci&#233;t&#233;s s&#233;lectionn&#233;es int&#233;greront le programme Apollo pour six mois d&#8217;accompagnement et jusqu&#8217;&#224; 250 000 euros de financement, avec l&#8217;ambition de transformer ce dealflow massif en nouvelles success stories entrepreneuriales.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-23?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-23?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 22 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-22</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-22</guid><pubDate>Mon, 01 Jun 2026 05:02:04 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/e2799da4-4316-4f5c-b469-24d2bae96c51_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 22&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises <strong>ont lev&#233;</strong> <strong>59,7 milions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>11 op&#233;rations</strong>, soit un <strong>ticket moyen de</strong> <strong>5,4 milions d&#8217;euros</strong>. &#192; cela s&#8217;ajoute <strong>Alice &amp; Bob</strong>, qui annonce un tour men&#233; par <strong>Nventures (Nvidia)</strong>, sans montant public &#224; ce stade.</p><p>La physionomie de la semaine est tir&#233;e par <strong>Lucis (17,2 M&#8364;)</strong> et <strong>MokN (13 M&#8364;)</strong>, devant <strong>Olyzon (8,6 M&#8364;)</strong> et <strong>vorteX-io (8,5 M&#8364;)</strong>. Le reste du dealflow se r&#233;partit entre healthtech, cybers&#233;curit&#233;, adtech, climate tech, regtech, tourisme, mobilit&#233;, proptech, greentech et assurtech, avec une majorit&#233; de tours d&#8217;amor&#231;age et de s&#233;rie A.</p><p>L&#8217;intelligence artificielle occupe une place visible dans cette &#233;dition. <strong>Lucis, Olyzon et Certo cumulent 28,8 milions d&#8217;euros</strong>, soit pr&#232;s de la moiti&#233; des montants communiqu&#233;s cette semaine.</p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Lucis &#183; S&#233;rie A &#183; 17,2 M&#8364; &#183; HealthTech</strong><br>Lucis d&#233;veloppe une plateforme de sant&#233; pr&#233;ventive aliment&#233;e par l&#8217;IA, permettant aux particuliers de suivre leurs biomarqueurs, de d&#233;tecter des risques pr&#233;coces et de recevoir des recommandations personnalis&#233;es.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Singular, General Catalyst, Y Combinator, Business Angels</p><div><hr></div><p><strong>MokN &#183; S&#233;rie A &#183; 13 M&#8364; &#183; Cybersecurity</strong><br>MokN d&#233;veloppe des solutions actives de r&#233;cup&#233;ration d&#8217;identit&#233; permettant aux entreprises de d&#233;tecter, intercepter et neutraliser les vols d&#8217;identifiants avant l&#8217;exploitation des comptes compromis.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> GV, Datadog, Moonfire, Ovni Capital, Datadog</p><div><hr></div><p><strong>Olyzon &#183; S&#233;rie B &#183; 8,6 M&#8364; &#183; AdTech</strong><br>Olyzon d&#233;veloppe une plateforme de publicit&#233; sur TV connect&#233;e aliment&#233;e par l&#8217;IA, permettant aux marques et aux agences de diffuser des campagnes cibl&#233;es et contextualis&#233;es sur les contenus en streaming.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> S4S Ventures, Eurazeo, Ventech</p><div><hr></div><p><strong>vorteX-io &#183; S&#233;rie A &#183; 8,5 M&#8364; &#183; ClimateTech</strong><br>vorteX-io d&#233;veloppe des solutions de suivi hydrologique permettant aux &#201;tats, utilities et industriels de collecter, analyser et anticiper en temps r&#233;el les donn&#233;es li&#233;es &#224; la ressource en eau et aux risques climatiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Seventure Partners, Banque des Territoires, Daphni</p><div><hr></div><p><strong>Certo &#183; Amor&#231;age &#183; 3 M&#8364; &#183; RegTech</strong><br>Certo d&#233;veloppe une plateforme de conformit&#233; r&#233;glementaire aliment&#233;e par l&#8217;IA, permettant aux acteurs de la beaut&#233; et des biens de consommation d&#8217;automatiser les revues de conformit&#233; produit et les workflows d&#8217;acc&#232;s march&#233; &#224; l&#8217;international.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Daphni, Motier Ventures, Entrepreneurs First</p><div><hr></div><p><strong>ThIA &#183; n.a. &#183; 3 M&#8364; &#183; HealthTech</strong><br>ThIA d&#233;veloppe une plateforme de sant&#233; mentale num&#233;rique permettant de coordonner les parcours de soins entre psychologues et psychiatres gr&#226;ce &#224; des outils d&#8217;&#233;valuation et de suivi en ligne.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Irdi Capital Investissement, Sofilaro Innovation, Generali, ALM Innovation, Tudigo, Business Angels</p><div><hr></div><p><strong>MySunBed &#183; Amor&#231;age &#183; 1,6 M&#8364; &#183; Tourisme</strong><br>MySunBed d&#233;veloppe un site de r&#233;servation en ligne de plages priv&#233;es, piscines et day pass en France.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> business angels</p><div><hr></div><p><strong>Ellipse Bikes &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; Mobilit&#233;</strong><br>Ellipse Bikes d&#233;veloppe des v&#233;los utilitaires fonctionnels, con&#231;us comme de v&#233;ritables v&#233;hicules.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Side Angels, UTC alumni</p><div><hr></div><p><strong>Leedflow &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; Proptech</strong><br>Leedflow d&#233;veloppe une application mobile qui capte, structure et relance automatiquement chaque interaction commerciale afin d&#8217;&#233;viter les oublis de suivi chez les agents immobiliers.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> business angels</p><div><hr></div><p><strong>K-Ren &#183; Amor&#231;age &#183; 1,2 M&#8364; &#183; Greentech</strong><br>K-Ren d&#233;veloppe une housse sur mesure destin&#233;e &#224; prot&#233;ger la coque des bateaux de plaisance contre le fouling et les salissures.</p><p>Tour de table r&#233;alis&#233; par : Sud Mer Invest, business angels</p><div><hr></div><p><strong>Orakle Weather &#183; Amor&#231;age &#183; 550 k&#8364; &#183; Assurtech</strong><br>Orakle Weather d&#233;veloppe des solutions technologiques de gestion des risques climatiques, avec une expertise en assurance param&#233;trique pour le tourisme et les activit&#233;s de plein air.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Campus Fund, Sharpstone Capital, Super Capital, BeAngels, business angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Alice &amp; Bob :</strong> la deeptech fran&#231;aise du quantique accueille NVentures, le bras VC de Nvidia, au capital dans le cadre de l&#8217;extension de sa s&#233;rie B de 100 millions d&#8217;euros boucl&#233;e d&#233;but 2025. Une reconnaissance de poids pour la startup, qui collabore d&#233;j&#224; avec Nvidia depuis 2024 et veut acc&#233;l&#233;rer vers un ordinateur quantique tol&#233;rant aux erreurs fond&#233; sur ses qubits de chat.</p><div><hr></div><p><strong>Anthropic :</strong> la startup derri&#232;re Claude a lev&#233; 30 milliards de dollars en s&#233;rie G en f&#233;vrier, sur une valorisation de 380 milliards de dollars, avant de s&#233;curiser en avril un investissement suppl&#233;mentaire de Google pouvant aller jusqu&#8217;&#224; 40 milliards de dollars, dont 10 milliards imm&#233;diats. Ces op&#233;rations visent &#224; financer ses capacit&#233;s de calcul et &#224; soutenir l&#8217;explosion de la demande autour de Claude, notamment sur le code.</p><div><hr></div><p><strong>Polsia :</strong> la startup d&#8217;IA pilot&#233;e par Ben Broca a lev&#233; 30 millions de dollars sur une valorisation de 250 millions de dollars, avec un mod&#232;le radicalement atypique : un seul fondateur, z&#233;ro employ&#233;, et une grande partie des op&#233;rations g&#233;r&#233;e par des agents IA. La soci&#233;t&#233; affirme approcher les 10 millions de dollars de run rate, apr&#232;s avoir d&#233;j&#224; d&#233;montr&#233; une forte traction sur un positionnement centr&#233; sur l&#8217;automatisation de fonctions enti&#232;res de l&#8217;entreprise.</p><div><hr></div><p><strong>Quantique :</strong> Emmanuel Macron annonce une rallonge d&#8217;un milliard d&#8217;euros pour la fili&#232;re quantique, afin d&#8217;acc&#233;l&#233;rer la commande publique, le cofinancement de supercalculateurs europ&#233;ens et le soutien &#224; la recherche, aux talents, aux capteurs et aux communications quantiques. En parall&#232;le, l&#8217;ex&#233;cutif renforce aussi son effort sur les semi-conducteurs, avec 550 millions d&#8217;euros engag&#233;s dans un nouveau programme europ&#233;en sur l&#8217;&#233;lectronique et une nouvelle strat&#233;gie nationale attendue en juillet.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-22?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-22?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 21 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-21</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-21</guid><pubDate>Mon, 25 May 2026 05:01:56 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/e99e31d4-fc7e-48bc-8f6b-d4726b100d73_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947538,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 21&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont <strong>lev&#233; 126,6 millions d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>8 op&#233;rations</strong>, soit un <strong>ticket moyen de 15,8 millions d&#8217;euros.</strong> Le niveau est port&#233; par un haut de tableau dense, avec quatre tours sup&#233;rieurs &#224; 17 millions d&#8217;euros dans l&#8217;IA, la fintech, la cybers&#233;curit&#233; et l&#8217;&#233;nergie.</p><p>La physionomie de la semaine est domin&#233;e par Dust et Pivot, qui l&#232;vent chacun 35 M&#8364;, devant Prelude et Otrera &#224; 17 M&#8364;. Le reste du dealflow se r&#233;partit entre conseil IA, supply chain, martech et adtech, dans une s&#233;quence tr&#232;s orient&#233;e logiciels B2B et automatisation des fonctions critiques de l&#8217;entreprise.</p><p><strong>L&#8217;IA occupe une place centrale</strong> dans cette &#233;dition. Dust, Pivot, Prelude, Mister AI et Leadbay cumulent <strong>100,7 M&#8364;, soit pr&#232;s de 80 % des montants lev&#233;s.</strong> </p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Dust &#183; S&#233;rie B &#183; 35 M&#8364; &#183; IA</strong><br>Dust d&#233;veloppe une plateforme d&#8217;agents IA pour les entreprises, permettant de cr&#233;er, d&#233;ployer et orchestrer des assistants connect&#233;s aux donn&#233;es internes et aux applications m&#233;tier.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Sequoia Capital, Abstract Ventures, Snowflake Ventures, Datadog</p><div><hr></div><p><strong>Pivot &#183; S&#233;rie B &#183; 35 M&#8364; &#183; FinTech</strong><br>Pivot d&#233;veloppe une plateforme achats et finance aliment&#233;e par l&#8217;IA, permettant aux entreprises d&#8217;automatiser les achats, la gestion des factures, le pilotage des d&#233;penses et les workflows financiers.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Forestay Capital, Notion Capital, Greyhound Capital, Hedosophia, Visionaries Club, Emblem, Business Angels</p><div><hr></div><p><strong>Prelude &#183; S&#233;rie A &#183; 17 M&#8364; &#183; Cybersecurity</strong><br>Prelude d&#233;veloppe une plateforme de confiance et de v&#233;rification d&#8217;identit&#233; aliment&#233;e par l&#8217;IA, permettant aux entreprises de d&#233;tecter la fraude, v&#233;rifier les utilisateurs et s&#233;curiser les parcours d&#8217;onboarding num&#233;rique.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> 20VC, Singular, Seedcamp, Deel, FDJ Ventures, Business Angels</p><div><hr></div><p><strong>Otrera &#183; S&#233;rie B &#183; 17 M&#8364; &#183; ClimateTech</strong><br>Otrera d&#233;veloppe des petits r&#233;acteurs modulaires &#224; neutrons rapides refroidis au sodium, destin&#233;s &#224; produire une &#233;nergie bas carbone, pilotable et souveraine.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> EDF, ADF, Onet Technologies, Reel, Ingerop, SNEF, Fortil, Exergon, Normandie Participations</p><div><hr></div><p><strong>Mister AI &#183; S&#233;rie A &#183; 10 M&#8364; &#183; IA</strong><br>Mister AI d&#233;veloppe des services de conseil et de formation en intelligence artificielle, afin d&#8217;aider les organisations &#224; d&#233;ployer, int&#233;grer et faire monter &#224; l&#8217;&#233;chelle des outils et agents d&#8217;IA g&#233;n&#233;rative dans leurs op&#233;rations.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> 199 Ventures, Momentum Invest</p><div><hr></div><p><strong>Dealinka &#183; Growth Equity &#183; 6,5 M&#8364; &#183; Supply Chain</strong><br>Dealinka d&#233;veloppe une plateforme de redistribution des surplus permettant aux grandes entreprises de g&#233;rer, optimiser et automatiser le don de leurs invendus non alimentaires &#224; des associations.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Re-sources Capital</p><div><hr></div><p><strong>Leadbay &#183; Seed &#183; 3,7 M&#8364; &#183; MarTech</strong><br>Leadbay d&#233;veloppe une plateforme de prospection commerciale aliment&#233;e par l&#8217;IA, permettant aux &#233;quipes marketing et sales d&#8217;identifier, qualifier et engager des PME difficiles &#224; atteindre &#224; partir de l&#8217;analyse de donn&#233;es publiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Y Combinator, Rebel Fund, Progressive VC, Bright Data Ventures, Inovexus, Roosh Ventures, Business Angels</p><div><hr></div><p><strong>Mediads &#183; Seed &#183; 2,4 M&#8364; &#183; AdTech</strong><br>Mediads d&#233;veloppe une plateforme de publicit&#233; sur les r&#233;seaux sociaux permettant aux marques de diffuser et d&#8217;optimiser des campagnes sponsoris&#233;es via les canaux sociaux des m&#233;dias &#233;diteurs.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Seventure Partners, 404 Ventures, Business Angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, 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srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Quantique :</strong> cinq ans apr&#232;s le lancement de la strat&#233;gie nationale, Emmanuel Macron annonce une rallonge d&#8217;un milliard d&#8217;euros pour la fili&#232;re quantique. Ce financement doit permettre d&#8217;acc&#233;l&#233;rer la commande publique, le cofinancement de supercalculateurs europ&#233;ens et le soutien &#224; la recherche. L&#8217;ex&#233;cutif veut aussi renforcer ses positions dans les semi-conducteurs, avec 550 millions d&#8217;euros engag&#233;s dans un nouveau programme europ&#233;en sur l&#8217;&#233;lectronique et une nouvelle strat&#233;gie nationale attendue en juillet.</p><div><hr></div><p><strong>Lauxera :</strong> Lauxera Capital Partners boucle &#224; 520 millions d&#8217;euros son deuxi&#232;me fonds d&#233;di&#233; &#224; la HealthTech europ&#233;enne, au-del&#224; de son hard cap initial de 500 millions. Ce nouveau v&#233;hicule doit permettre d&#8217;investir des tickets de 20 &#224; 50 millions d&#8217;euros dans 12 &#224; 15 medtech d&#233;j&#224; solides en Europe, avec une priorit&#233; claire : acc&#233;l&#233;rer leur d&#233;ploiement sur le march&#233; am&#233;ricain.</p><div><hr></div><p><strong>AION :</strong> Iliad s&#8217;allie avec Orange, EDF, Hugging Face, Kyutai, Quandela, Artefact et une vingtaine d&#8217;autres acteurs dans le consortium &#171; AION &#187; pour porter une candidature fran&#231;aise aux futures gigafactories d&#8217;IA europ&#233;ennes. Le projet, estim&#233; &#224; 10 milliards d&#8217;euros, vise &#224; b&#226;tir une infrastructure de calcul d&#8217;un gigawatt en France pour proposer une alternative aux hyperscalers am&#233;ricains et &#233;viter de reproduire les erreurs du cloud.</p><div><hr></div><p><strong>Mistral AI :</strong> la d&#233;cacorne fran&#231;aise boucle sa deuxi&#232;me acquisition en rachetant la startup autrichienne Emmi AI, sp&#233;cialis&#233;e dans les &#171; Large Engineering Models &#187; pour la simulation industrielle. Les trois fondateurs et une trentaine de chercheurs et ing&#233;nieurs rejoignent Mistral AI, qui renforce ainsi sa verticale d&#8217;IA pour la science et l&#8217;industrie tout en ouvrant un nouveau bureau &#224; Linz.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" width="1456" height="379" 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-21?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-21?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 20 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-20</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-20</guid><pubDate>Mon, 18 May 2026 05:01:38 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/4d6299fe-9b9d-41ed-b042-477db59e5f98_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 20&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont <strong>lev&#233; 145,7 millions d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>9 op&#233;rations</strong>, soit un <strong>ticket moyen de 16,2 millions d&#8217;euros.</strong> Le niveau est port&#233; par un haut de tableau particuli&#232;rement dense.</p><p>La physionomie de la semaine est domin&#233;e par la medtech, avec UroMems (51,2 M&#8364;), S&#234;meia (21 M&#8364;) et Sonomind (20 M&#8364;), qui concentrent &#224; elles seules plus de 90 M&#8364; lev&#233;s. Mantle8 compl&#232;te ce bloc de t&#234;te avec 31 M&#8364; pour ses travaux sur l&#8217;hydrog&#232;ne naturel, dans une s&#233;quence marqu&#233;e par des technologies &#224; forte intensit&#233; scientifique et capitalistique.</p><p>L&#8217;IA reste visible dans cette &#233;dition, avec White Circle et Fakto qui cumulent 12,9 M&#8364;. </p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>UroMems &#183; S&#233;rie D &#183; 51,2 M&#8364; &#183; MedTech</strong><br>UroMems d&#233;veloppe un dispositif m&#233;dical implantable destin&#233; au traitement de l&#8217;incontinence urinaire.</p><p>Tour de table r&#233;alis&#233; par : Ajax Health</p><div><hr></div><p><strong>Mantle8 &#183; S&#233;rie A &#183; 31 M&#8364; &#183; Energy</strong><br>Mantle8 d&#233;veloppe des travaux de recherche g&#233;ologique sp&#233;cialis&#233;s dans les g&#233;osyst&#232;mes d&#8217;hydrog&#232;ne naturel.</p><p>Tour de table r&#233;alis&#233; par : Sandwater, Breakthrough Energy Ventures, Bpifrance, IP Group, Wind Capital, Calderion</p><div><hr></div><p><strong>S&#234;meia &#183; S&#233;rie A &#183; 21 M&#8364; &#183; MedTech</strong><br>S&#234;meia d&#233;veloppe une plateforme de t&#233;l&#233;surveillance permettant aux professionnels de sant&#233; de suivre les patients atteints de maladies chroniques et de mieux coordonner leur prise en charge.</p><p>Tour de table r&#233;alis&#233; par : Acton Capital, Mutuelles Impact, Citizen Capital, Banque des Territoires, Orange Ventures</p><div><hr></div><p><strong>Sonomind &#183; S&#233;rie A &#183; 20 M&#8364; &#183; MedTech</strong><br>Sonomind d&#233;veloppe un dispositif de stimulation c&#233;r&#233;brale non invasive destin&#233; au traitement de la d&#233;pression r&#233;sistante aux m&#233;dicaments.</p><p>Tour de table r&#233;alis&#233; par : Critical Path Ventures, Bpifrance</p><div><hr></div><p><strong>White Circle &#183; Amor&#231;age &#183; 9,3 M&#8364; &#183; IA</strong><br>White Circle d&#233;veloppe une plateforme de contr&#244;le et de s&#233;curit&#233; pour l&#8217;IA, permettant aux entreprises de tester, surveiller, s&#233;curiser et piloter leurs mod&#232;les et agents en production.</p><p>Tour de table r&#233;alis&#233; par : Business Angels</p><div><hr></div><p><strong>Virtual Browser &#183; Amor&#231;age &#183; 5,8 M&#8364; &#183; Cybersecurity</strong><br>Virtual Browser d&#233;veloppe un logiciel de cybers&#233;curit&#233; offrant une solution de navigation web distante et isol&#233;e.</p><p>Tour de table r&#233;alis&#233; par : Go Capital, BNP Paribas D&#233;veloppement, Auriga Partners</p><div><hr></div><p><strong>Fakto &#183; Amor&#231;age &#183; 3,6 M&#8364; &#183; SaaS</strong><br>Fakto d&#233;veloppe une plateforme d&#8217;intelligence des co&#251;ts aliment&#233;e par l&#8217;IA, permettant aux &#233;quipes achats et finance d&#8217;identifier les pertes de marge dans les contrats fournisseurs, factures et paiements.</p><p>Tour de table r&#233;alis&#233; par : Frst, GFC, Darkmode, Business Angels</p><div><hr></div><p><strong>Askleia &#183; Amor&#231;age &#183; 2,3 M&#8364; &#183; BioTech</strong><br>Askleia d&#233;veloppe des technologies innovantes de purification de biomol&#233;cules combinant pr&#233;cipitation et &#233;lectrophor&#232;se en flux libre pour la production biopharmaceutique.</p><p>Tour de table r&#233;alis&#233; par : iXcore, Business Angels</p><div><hr></div><p><strong>TwoWay &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; Fintech</strong><br>TwoWay d&#233;veloppe une solution qui optimise les flux de travail de trading dans les institutions financi&#232;res en transformant en temps r&#233;el des messages de chat &#224; fort volume en donn&#233;es de march&#233; structur&#233;es.</p><p>Tour de table r&#233;alis&#233; par : Plug &amp; Play Ventures, Super Capital, Tenity, Welovefounders</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947146,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Superprof :</strong> la plateforme fran&#231;aise de cours particuliers rach&#232;te l&#8217;italien Ripetizioni.it, signant sa 19e acquisition en treize ans pour poursuivre la consolidation d&#8217;un march&#233; mondial encore fragment&#233;. Pr&#233;sente dans plus de 75 pays, rentable et sans lev&#233;e de fonds depuis sa cr&#233;ation, Superprof a r&#233;alis&#233; 60 millions d&#8217;euros de chiffre d&#8217;affaires en 2025 et vise d&#233;sormais les 100 millions cette ann&#233;e.</p><div><hr></div><p><strong>The Bitcoin Society :</strong> six mois apr&#232;s son lancement, &#201;ric Larchev&#234;que met d&#233;j&#224; fin &#224; l&#8217;activit&#233; de tr&#233;sorerie bitcoin de TBSO, pourtant pr&#233;sent&#233;e comme le c&#339;ur du projet. En cause : un march&#233; crypto devenu moins porteur et des difficult&#233;s &#224; lever les fonds n&#233;cessaires pour d&#233;ployer cette strat&#233;gie via Tayninh, la coquille cot&#233;e reprise sur Euronext.</p><div><hr></div><p><strong>Harvey :</strong> la licorne am&#233;ricaine de l&#8217;IA juridique ouvre un bureau &#224; Paris et d&#233;ploie sa plateforme chez August Debouzy, apr&#232;s avoir d&#233;j&#224; s&#233;duit des acteurs comme Bredin Prat, CMS Francis Lefebvre, Adecco ou le PSG. Valoris&#233; 11 milliards de dollars, l&#8217;acteur soutenu par Sequoia et OpenAI arrive sur un march&#233; fran&#231;ais en forte acc&#233;l&#233;ration, o&#249; la bataille se joue autant sur la performance que sur les enjeux de souverainet&#233; et de confidentialit&#233; des donn&#233;es.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-20?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-20?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 19 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-19</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-19</guid><pubDate>Mon, 11 May 2026 05:02:37 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/dfdbb056-a3fa-40ea-822a-38bb5751eeb3_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947538,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 19&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont<strong> lev&#233; 127,5</strong> <strong>millions d&#8217;euros</strong> cette semaine, r&#233;partis sur <strong>10 op&#233;rations</strong>, soit un <strong>ticket moyen de</strong> <strong>12,75</strong> <strong>millions d&#8217;euros</strong>. Le niveau est port&#233; par un tour majeur en legaltech, compl&#233;t&#233; par plusieurs op&#233;rations significatives en IA, data et biotech.</p><p>La physionomie de la semaine est largement domin&#233;e par LegalPlace, qui boucle une S&#233;rie C de 70 M&#8364; et concentre &#224; elle seule plus de la moiti&#233; des montants lev&#233;s. Derri&#232;re, Lithosquare (22 M&#8364;), OpsMill (12 M&#8364;) et Signadori Bio (11,1 M&#8364;) structurent le reste du haut de tableau, avec un dealflow tr&#232;s orient&#233; software, infrastructures critiques et sciences du vivant.</p><p>L&#8217;IA conserve une place visible dans cette &#233;dition. Lithosquare et Davis cumulent &#224; elles seules 26,7 millions d&#8217;euros.</p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>LegalPlace &#183; S&#233;rie C &#183; 70 M&#8364; &#183; LegalTech</strong><br>LegalPlace d&#233;veloppe une plateforme digitale permettant aux entrepreneurs et aux PME de cr&#233;er, g&#233;rer et automatiser leurs d&#233;marches juridiques, administratives et comptables tout au long de la vie de l&#8217;entreprise.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Xange, Eurazeo, Move Capital Fund I, Wille Finance AG, Open CNP</p><div><hr></div><p><strong>Lithosquare &#183; Amor&#231;age &#183; 22 M&#8364; &#183; IA</strong><br>Lithosquare d&#233;veloppe une plateforme d&#8217;exploration g&#233;ologique aliment&#233;e par l&#8217;IA, con&#231;ue pour aider les groupes miniers &#224; acc&#233;l&#233;rer la d&#233;couverte de gisements de min&#233;raux critiques et &#224; optimiser leurs campagnes d&#8217;exploration.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> World Fund, Kindred Capital, Daphni, Omnes Capital, Ovni Capital</p><div><hr></div><p><strong>OpsMill &#183; S&#233;rie A &#183; 12 M&#8364; &#183; Data</strong><br>OpsMill d&#233;veloppe une plateforme de gestion des donn&#233;es d&#8217;infrastructure permettant aux &#233;quipes IT d&#8217;automatiser, versionner et piloter leurs workflows d&#8217;infrastructure.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> IRIS, BGV, Serena, Partech</p><div><hr></div><p><strong>Signadori Bio &#183; Amor&#231;age &#183; 11,1 M&#8364; &#183; BioTech</strong><br>Signadori Bio d&#233;veloppe des solutions biopharmaceutiques pr&#233;cliniques issues de la recherche contre le cancer, afin de faire &#233;merger de nouvelles approches th&#233;rapeutiques en oncologie.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Taiho Ventures, Sofinnova Partners, Invivo Partners</p><div><hr></div><p><strong>Davis &#183; Amor&#231;age &#183; 4,7 M&#8364; &#183; Proptech</strong><br>Davis d&#233;veloppe une plateforme immobili&#232;re aliment&#233;e par l&#8217;IA qui automatise les &#233;tudes de faisabilit&#233; et la conception architecturale pour les promoteurs.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Balderton Capital, Heartcore Capital, Evantic, Yellow VC, Entrepreneurs First, Business Angels</p><div><hr></div><p><strong>OneFlash &#183; S&#233;rie A &#183; 2,2 M&#8364; &#183; Retail</strong><br>OneFlash d&#233;veloppe des bornes de recharge mobile en libre-service permettant aux lieux publics et espaces commerciaux de proposer un service de recharge de smartphones &#224; la demande.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Blast</p><div><hr></div><p><strong>Nelson &#183; Amor&#231;age &#183; 2 M&#8364; &#183; Mobility</strong><br>Nelson d&#233;veloppe un logiciel de transition vers le v&#233;hicule &#233;lectrique permettant aux entreprises de planifier, g&#233;rer et optimiser l&#8217;&#233;lectrification de leurs flottes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Asterion, La Poste Ventures, EIT Urban Mobility, Climate Club, Business Angels</p><div><hr></div><p><strong>Objow &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; HRTech</strong><br>Objow d&#233;veloppe une plateforme SaaS d&#8217;engagement collaborateur et de performance commerciale permettant aux entreprises d&#8217;animer, d&#8217;incentiver et d&#8217;optimiser leurs r&#233;seaux de vente.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Edenred Ventures, Cr&#233;dit Agricole Cr&#233;ation, HUB612 Participations, Holnest, Business Angels</p><div><hr></div><p><strong>Huelco &#183; S&#233;rie A &#183; 1,2 M&#8364; &#183; ClimateTech</strong><br>Huelco d&#233;veloppe, via sa division Orioma, des solutions IoT de gestion technique du b&#226;timent &#224; tr&#232;s basse consommation, permettant de suivre en temps r&#233;el l&#8217;efficacit&#233; &#233;nerg&#233;tique, la performance environnementale et la s&#233;curit&#233; des b&#226;timents.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Business angels</p><div><hr></div><p><strong>Kacentric Optics &#183; Amor&#231;age &#183; 800 k&#8364; &#183; Deeptech</strong><br>Kacentric Optics d&#233;veloppe des &#233;quipements de test et de mesure photoniques de nouvelle g&#233;n&#233;ration pour des applications industrielles et scientifiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Business angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>LegalPlace :</strong> quatre ans apr&#232;s sa s&#233;rie B, la legaltech fran&#231;aise l&#232;ve 70 millions d&#8217;euros et rach&#232;te dans la foul&#233;e son rival historique Legalstart. L&#8217;op&#233;ration donne naissance &#224; un nouveau poids lourd qui revendique pr&#232;s de 20 % des cr&#233;ations de soci&#233;t&#233;s en France, avec l&#8217;ambition de d&#233;passer les 100 millions d&#8217;euros de chiffre d&#8217;affaires d&#232;s 2026 et de pr&#233;parer son expansion europ&#233;enne.</p><div><hr></div><p><strong>Genesis AI :</strong> moins d&#8217;un an apr&#232;s une lev&#233;e de 105 millions de dollars, la startup fran&#231;aise d&#233;voile GENE-26.5, un mod&#232;le de fondation d&#233;di&#233; &#224; la robotique pour rapprocher les capacit&#233;s de manipulation des robots de celles des humains. Pour l&#8217;entra&#238;ner, Genesis AI combine une main robotique, un gant &#224; capteurs tactiles et un moteur de donn&#233;es nourri par des gestes humains, avec l&#8217;ambition de pr&#233;senter prochainement son premier robot g&#233;n&#233;raliste.</p><div><hr></div><p><strong>Doctolib :</strong> la licorne fran&#231;aise rach&#232;te la britannique Medicus Health pour s&#8217;implanter au Royaume-Uni, son cinqui&#232;me march&#233; europ&#233;en. Elle pr&#233;voit d&#8217;y investir plus de 100 millions de livres et de recruter 150 personnes pour acc&#233;l&#233;rer sur les logiciels m&#233;dicaux dop&#233;s &#224; l&#8217;IA, face au duopole historique du secteur.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-19?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-19?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 18 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-18</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-18</guid><pubDate>Mon, 04 May 2026 05:01:56 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/ad477022-a2f0-44a0-9b38-1f176ca014b8_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 18&#7497; &#233;dition 2026 d&#8217;anti-dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont <strong>lev&#233; 122 millions d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>11 op&#233;rations</strong>, soit un <strong>ticket moyen de 10,25 millions d&#8217;euros</strong>. Le niveau reste solide, port&#233; par plusieurs s&#233;ries A et B significatives, dans une configuration &#233;quilibr&#233;e entre scale-up et amor&#231;age.</p><p>La physionomie de la semaine est structur&#233;e autour d&#8217;un quatuor de t&#234;te avec EVA (35 M&#8364;), Decade Energy (21,5 M&#8364;), Rosi Solar (20 M&#8364;) et SquareMind (18 M&#8364;), compl&#233;t&#233; par Audion (15 M&#8364;). Ces cinq op&#233;rations concentrent l&#8217;essentiel des montants lev&#233;s.</p><p>Le reste du dealflow se r&#233;partit sur des tickets plus modestes en deeptech, mobilit&#233;, biotech, martech, legaltech et agritech, majoritairement en amor&#231;age. </p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>EVA &#183; S&#233;rie B &#183; 35 M&#8364; &#183; Gaming</strong><br>EVA d&#233;veloppe une plateforme de divertissement en r&#233;alit&#233; virtuelle en ar&#232;ne, qui permet aux utilisateurs de vivre des exp&#233;riences de jeu multijoueur immersives en free roaming dans des espaces d&#233;di&#233;s.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Raise Invest</p><div><hr></div><p><strong>Decade Energy &#183; S&#233;rie A &#183; 21,5 M&#8364; &#183; ClimateTech</strong><br>Decade Energy d&#233;veloppe et exploite des plateformes int&#233;gr&#233;es d&#8217;infrastructure &#233;nerg&#233;tique permettant l&#8217;&#233;lectrification des d&#233;p&#244;ts logistiques et la recharge &#224; grande &#233;chelle de camions &#233;lectriques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Eiffel Investment Group, SET Ventures, Contrarian Ventures, Ananda Impact Ventures</p><div><hr></div><p><strong>Rosi Solar</strong> <strong>&#183; S&#233;rie B &#183; 20 M&#8364; &#183; GreenTech</strong><br>Rosi Solar est sp&#233;cialis&#233;e dans le recyclage et la revalorisation des mati&#232;res premi&#232;res de l&#8217;industrie photovolta&#239;que. Ses technologies permettent de r&#233;cup&#233;rer le silicium ultra-pur et les autres m&#233;taux perdus lors de la production des cellules photovolta&#239;ques et de la fin de vie des panneaux solaires.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> InnoEnergy, European Innovation Council, CMA-CGM, G3T</p><div><hr></div><p><strong>SquareMind &#183; S&#233;rie A &#183; 18 M&#8364; &#183; HealthTech</strong><br>SquareMind d&#233;veloppe une plateforme de th&#233;rapies num&#233;riques fond&#233;e sur les neurosciences, qui s&#8217;appuie sur l&#8217;entra&#238;nement cognitif et l&#8217;analyse de donn&#233;es pour am&#233;liorer la sant&#233; mentale et les performances cognitives.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> BPI Deeptech 2030, Sonder Capital, Adamed, Calm/Storm Ventures, Teampact Ventures</p><div><hr></div><p><strong>Audion &#183; S&#233;rie B &#183; 15 M&#8364; &#183; AdTech</strong><br>Audion d&#233;veloppe une plateforme d&#8217;intelligence audio aliment&#233;e par l&#8217;IA, permettant aux marques et aux agences de cr&#233;er, diffuser et mesurer des campagnes de publicit&#233; audio cibl&#233;es sur les canaux de streaming et m&#233;dias digitaux.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Elevation Capital Partners, Founders Future, Bpifrance</p><div><hr></div><p><strong>Faactopi &#183; S&#233;rie A &#183; 3 M&#8364; &#183; DeepTech</strong><br>Faactopi d&#233;veloppe et exploite des solutions industrielles avanc&#233;es pour l&#8217;assemblage de syst&#232;mes m&#233;catroniques complexes, en s&#8217;appuyant sur la technologie du jumeau num&#233;rique pour optimiser la production et le passage &#224; l&#8217;&#233;chelle.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Innovacom</p><div><hr></div><p><strong>Virvolt &#183; S&#233;rie A &#183; 3 M&#8364; &#183; Mobility</strong><br>Virvolt fabrique des chaines de tractions (moteurs, batteries, &#233;crans) permettant d'acc&#233;der &#224; des v&#233;los &#233;lectriques au juste prix, locaux et robustes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> CoopVenture, Afrimobility, Business Angels</p><div><hr></div><p><strong>Askleia &#183; Amor&#231;age &#183; 2,3 M&#8364; &#183; BioTech</strong><br>Askleia d&#233;veloppe une technologie pour la purification des produits issus des biotechnologies.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> IXcore</p><div><hr></div><p><strong>Sillage &#183; Amor&#231;age &#183; 1,7 M&#8364; &#183; MarTech</strong><br>Sillage propose une plateforme qui analyse et transforme des signaux provenant des r&#233;seaux sociaux, des recrutements en cours et des activit&#233;s des concurrents en opportunit&#233;s commerciales qualifi&#233;es, pr&#234;tes &#224; &#234;tre exploit&#233;es dans le pipeline de vente des &#233;quipes commerciales.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Kima Ventures, Angel Invest, Drysdale Ventures, OPRTRS CLUB, Clover</p><div><hr></div><p><strong>Cleo Labs &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; LegalTech</strong><br>Cleo Labs automatise la conformit&#233; des produits pour les marques qui se lancent sur plusieurs march&#233;s.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Accel, Kima Ventures, Financi&#232;re Saint-James, Business Angels</p><div><hr></div><p><strong>Hectarea &#183; Amor&#231;age &#183; 1,5 M&#8364; &#183; AgriTech</strong><br>Hectarea propose une solution d'&#233;pargne qui permet aux particuliers d'investir dans le foncier agricole d&#232;s 500&#8364;.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Inco Ventures, Kiss Studio, Albo, Business Angels</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 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srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Earlybird :</strong> le VC europ&#233;en boucle Fund VIII &#224; 360 millions d&#8217;euros, le plus important fonds early-stage de son histoire. Ce nouveau v&#233;hicule ciblera en priorit&#233; les app d&#8217;IA, l&#8217;infrastructure logicielle, les foundation models et la deeptech, avec l&#8217;ambition de continuer &#224; faire &#233;merger d&#232;s les premiers tours une nouvelle g&#233;n&#233;ration de champions technologiques europ&#233;ens.</p><div><hr></div><p><strong>Meta&#8211;Manus :</strong> la Chine interdit le rachat de Manus par Meta, une op&#233;ration estim&#233;e &#224; 2 milliards de dollars, au nom de ses r&#232;gles sur les investissements &#233;trangers et les technologies sensibles. Ce veto prive Meta d&#8217;un acteur en forte croissance de l&#8217;IA agentique, fond&#233; en Chine puis d&#233;plac&#233; &#224; Singapour, qui affichait plus de 100 millions de dollars de revenus r&#233;currents en 2025.</p><div><hr></div><p><strong>Doctrine :</strong> la legaltech fran&#231;aise entre en n&#233;gociations exclusives avec le groupe britannique RELX, maison m&#232;re de LexisNexis, en vue d&#8217;un rachat estim&#233; &#224; plusieurs centaines de millions d&#8217;euros. Trois ans apr&#232;s l&#8217;entr&#233;e de Summit Partners &#224; son capital, Doctrine affiche entre 50 et 60 millions d&#8217;euros d&#8217;ARR, 26 000 clients en Europe et plus de 260 collaborateurs, sur fond de consolidation acc&#233;l&#233;r&#233;e du march&#233; de l&#8217;IA juridique.</p><div><hr></div><p><strong>Anthropic :</strong> Google va investir 10 milliards de dollars dans la startup d&#8217;IA, avec une option pouvant porter l&#8217;enveloppe &#224; 40 milliards, sur une valorisation de 350 milliards de dollars. L&#8217;accord s&#8217;accompagne d&#8217;un acc&#232;s massif &#224; la capacit&#233; de calcul de Google sur cinq ans, alors qu&#8217;Anthropic doit absorber la forte demande autour de Claude, en particulier sur le code.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-18?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-18?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 17 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-17</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-17</guid><pubDate>Mon, 27 Apr 2026 05:02:12 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/d823c0ad-c783-49ec-a00c-f1e3a6826d35_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947538,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 17&#7497; &#233;dition 2026 d&#8217;anti-dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont <strong>lev&#233; 44,8 millions d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>7 op&#233;rations</strong>, soit un <strong>ticket moyen de 6,4 millions d&#8217;euros</strong>. Le niveau reste interm&#233;diaire, port&#233; par un tour significatif dans l&#8217;aerospace puis une s&#233;rie d&#8217;op&#233;rations plus resserr&#233;es en logistique, &#233;nergie, healthtech, foodtech et biotech.</p><p>La physionomie de la semaine est nettement domin&#233;e par Univity, qui boucle un tour de 27 M&#8364; et concentre &#224; elle seule plus de la moiti&#233; des montants lev&#233;s. Derri&#232;re, Ouidrop (7 M&#8364;), Axomove (4 M&#8364;) structurent le reste du haut de tableau.</p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img 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srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Univity &#183; S&#233;rie A &#183; 27 M&#8364; &#183; Aerospace</strong><br>Univity d&#233;veloppe une constellation de satellites en orbite bas permettant aux op&#233;rateurs t&#233;l&#233;coms de proposer une connectivit&#233; haut d&#233;bit &#224; faible latence, int&#233;gr&#233;e de mani&#232;re fluide aux r&#233;seaux 5G.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Blast Club, Expansion, BPI Deeptech 2030, Family offices</p><div><hr></div><p><strong>Ouidrop &#183; S&#233;rie A &#183; 7 M&#8364; &#183; Logistics</strong><br>Ouidrop d&#233;veloppe des solutions innovantes visant &#224; r&#233;volutionner les syst&#232;mes de Click &amp; Collect robotis&#233;s.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> &#201;pop&#233;e Gestion, Swen Capital Partners, GSO Innovation, Cr&#233;dit Agricole Aquitaine Expansion, Spring Invest</p><div><hr></div><p><strong>Axomove &#183; S&#233;rie A &#183; 4 M&#8364; &#183; HealthTech</strong><br>Axomove d&#233;veloppe une plateforme de t&#233;l&#233;-r&#233;&#233;ducation et de t&#233;l&#233;suivi permettant aux professionnels de sant&#233; et aux employeurs de proposer des programmes personnalis&#233;s d&#8217;exercices th&#233;rapeutiques pour les troubles musculo-squelettiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Go Capital, BPI Fonds Pr&#233;vention Num&#233;rique, Inco Ventures, Faraday Venture Partners</p><div><hr></div><p><strong>Glimpact &#183; Amor&#231;age &#183; 2,6 M&#8364; &#183; ClimateTech</strong><br>Glimpact d&#233;veloppe un logiciel d&#8217;analyse du cycle de vie permettant aux entreprises de mesurer, comparer et r&#233;duire l&#8217;impact environnemental de leurs produits.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Sparkalis</p><div><hr></div><p><strong>Five Lives &#183; S&#233;rie A &#183; 2,2 M&#8364; &#183; HealthTech</strong><br>Five Lives d&#233;veloppe des th&#233;rapies num&#233;riques combinant entra&#238;nement cognitif et activit&#233; physique pour soutenir la m&#233;moire et l&#8217;autonomie des populations vieillissantes.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Open CNP, 50 Partners Capital, Family Ventures, Speedinvest, Headline, Masawa, Techmind, Tor Capital, Sowefund</p><div><hr></div><p><strong>Minimiil &#183; Amor&#231;age &#183; 1 M&#8364; &#183; Foodtech</strong><br>Minimiil d&#233;veloppe des mini-shots v&#233;g&#233;taux destin&#233;s &#224; soutenir le microbiote, la croissance et l&#8217;immunit&#233;.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Newfund Capital</p><div><hr></div><p><strong>Biotech One &#183; Amor&#231;age &#183; 1 M&#8364; &#183; Biotech</strong><br>Biotech One d&#233;veloppe des solutions biopharmaceutiques int&#233;gr&#233;es m&#234;lant R&amp;D externalis&#233;e, production et accompagnement &#224; la commercialisation pour les biotech et les laboratoires pharmaceutiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> R&#233;gion Sud Investissement, CAAP Cr&#233;ation</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Revolut :</strong> la n&#233;obanque britannique viserait une valorisation comprise entre 150 et 200 milliards de dollars lors de sa future introduction en Bourse, selon le Financial Times.</p><div><hr></div><p><strong>Bubble Robotics :</strong> fond&#233;e par d&#8217;anciens ing&#233;nieurs de la Nasa et de l&#8217;ETH Zurich, la startup d&#233;veloppe des robots sous-marins autonomes pour surveiller en continu les infrastructures offshore critiques, des c&#226;bles aux &#233;oliennes en mer. Elle l&#232;ve 4,5 millions d&#8217;euros en pr&#233;-seed, dont 1,1 million en non dilutif, pour acc&#233;l&#233;rer le d&#233;veloppement de sa plateforme m&#234;lant robotique, IA embarqu&#233;e et traitement de donn&#233;es.</p><div><hr></div><p><strong>Morpho :</strong> la fintech crypto fran&#231;aise sp&#233;cialis&#233;e dans le pr&#234;t et l&#8217;emprunt sur blockchain devient licorne, non pas &#224; la faveur d&#8217;une lev&#233;e de fonds, mais gr&#226;ce &#224; la valorisation de son token de gouvernance, d&#233;sormais sup&#233;rieure &#224; 1 milliard de dollars. Fond&#233;e en 2021, la soci&#233;t&#233; revendique environ 12 milliards de dollars de d&#233;p&#244;ts et 4,3 milliards de dollars de pr&#234;ts, avec une infrastructure d&#233;j&#224; utilis&#233;e par Coinbase, Kraken ou SG Forge.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-17?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-17?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 16 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-13-d42</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-13-d42</guid><pubDate>Mon, 20 Apr 2026 05:01:12 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/5f5cd358-7128-42ee-aaa7-bb9a6e92d737_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947538,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 16&#7497; &#233;dition 2026 d&#8217;anti dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont <strong>lev&#233; 41,9 millions d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>9 op&#233;rations</strong>, soit un <strong>ticket moyen de 4,66 millions d&#8217;euros</strong>. Le niveau reste mod&#233;r&#233;, avec un dealflow domin&#233; par quelques tickets significatifs en agritech, deeptech et fintech, puis une longue tra&#238;ne d&#8217;op&#233;rations en amor&#231;age.</p><p>La physionomie de la semaine est tir&#233;e par Agriodor (15 M&#8364;), Donecle (10 M&#8364;) et un duo &#224; 6 M&#8364; compos&#233; de Mirabelle et HrFlow.ai. Derri&#232;re, le reste du march&#233; se r&#233;partit entre greentech, proptech, deeptech industrielle, data, mobilit&#233; et agtech, sur des montants plus modestes. On est clairement sur une semaine orient&#233;e B2B, avec des solutions tr&#232;s ancr&#233;es dans des cas d&#8217;usage op&#233;rationnels.</p><p><strong>L&#8217;intelligence artificielle reste pr&#233;sente, mais concentr&#233;e sur une seule op&#233;ration pour un montant de 6 millions d&#8217;euros</strong>, soit un peu plus de 14 % des montants recens&#233;s. L&#8217;IA est ici appliqu&#233;e au traitement des donn&#233;es RH, dans une logique d&#8217;infrastructure API &#224; destination des entreprises.</p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1955671,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Agriodor &#183; S&#233;rie B &#183; 15 M&#8364; &#183; Agritech</strong><br>Agriodor cr&#233;e des produits permettant de remplacer les insecticides par des attractifs &#224; base de Kairomones.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Cr&#233;dit Mutuel Impact, R&#233;gion Sud Invest, CAAP Cr&#233;ation, Capagro, Ambra Capital, SWEN Capital Partners</p><div><hr></div><p><strong>Donecle &#183; S&#233;rie B &#183; 10 M&#8364; &#183; Deeptech</strong><br>Donecle d&#233;veloppe des solutions d&#8217;inspection autonome par drone permettant d&#8217;automatiser des inspections visuelles de haute pr&#233;cision pour les actifs industriels.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> IRDI Capital Investissement, SWEN Capital Partners, GSO Innovation, ARIS Occitanie</p><div><hr></div><p><strong>Mirabelle &#183; Amor&#231;age &#183; 6 M&#8364; &#183; Fintech</strong><br>Mirabelle propose un syst&#232;me de pr&#234;t viager hypoth&#233;caire et de la rente viag&#232;re aux retrait&#233;s et &#224; leurs familles pour financer les projets de retraite.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Inter Invest, Mindstone, Ren&#233;e Costes, OCIRP, Int&#233;riale, Mutual Insurance, business angels</p><div><hr></div><p><strong>HrFlow.ai &#183; Amor&#231;age &#183; 6 M&#8364; &#183; RH</strong><br>HrFlow.ai propose une solution d&#8217;intelligence artificielle pour le traitement des donn&#233;es RH, enti&#232;rement disponible par API.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> 115K, EmergingTech Ventures, business angels</p><div><hr></div><p><strong>Cosmyx &#183; Amor&#231;age &#183; 1,3 M&#8364; &#183; Deeptech</strong><br>Cosmyx d&#233;veloppe et fabrique des imprimantes 3D industrielles et des micro-usines automatis&#233;es permettant une fabrication additive continue et &#224; haute vitesse.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Paris Business Angels, SideAngels, Femmes Business Angels, Club FFI Invest</p><div><hr></div><p><strong>Cap Atlas &#183; Amor&#231;age &#183; 1,1 M&#8364; &#183; Data</strong><br>Cap Atlas d&#233;veloppe des solutions d&#8217;acquisition et d&#8217;analyse de donn&#233;es g&#233;ospatiales par drone, ainsi qu&#8217;une plateforme SaaS collaborative de cartographie pour les usages industriels et topographiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Normandie Participations, Normandie Littoral, Normandie Business Angels, Cr&#233;dit Agricole Innove en Normandie, groupe Lhotellier</p><div><hr></div><p><strong>Novaleum &#183; Amor&#231;age &#183; 1 M&#8364; &#183; Greentech</strong><br>Novaleum d&#233;veloppe une technologie thermom&#233;canique de valorisation &#233;nerg&#233;tique des d&#233;chets, capable de transformer des d&#233;chets gras industriels en biocarburants, intrants pour biom&#233;thane et eau recycl&#233;e.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Familink, Business Angels</p><div><hr></div><p><strong>Proclus &#183; Amor&#231;age &#183; 1 M&#8364; &#183; Proptech</strong><br>Proclus donne une seconde vie aux &#233;quipements &#233;lectriques techniques des b&#226;timents gr&#226;ce &#224; une d&#233;pose et un reconditionnement permettant leur r&#233;emploi.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> SMA BTP, InvESS Ile-de-France</p><div><hr></div><p><strong>Oligo+ &#183; Amor&#231;age &#183; 500 k&#8364; &#183; AgriTech</strong><br>Oligo+ d&#233;veloppe des solutions d&#8217;agriculture de pr&#233;cision par drone combinant analyse agronomique et fertilisation cibl&#233;e pour optimiser les rendements et la rentabilit&#233; des exploitations.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Hexa</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947146,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Newfund :</strong> le VC fran&#231;ais boucle &#224; 60 millions d&#8217;euros HEKA, pr&#233;sent&#233; comme le premier fonds europ&#233;en d&#233;di&#233; &#224; la sant&#233; num&#233;rique du cerveau. Le v&#233;hicule investira des tickets de 1 &#224; 3 millions d&#8217;euros dans des startups &#224; la crois&#233;e de la healthtech, des neurosciences et de la techbio, avec une strat&#233;gie assum&#233;e vers le march&#233; am&#233;ricain, aujourd&#8217;hui central dans ce secteur.</p><div><hr></div><p><strong>Morpho :</strong> la fintech crypto fran&#231;aise sp&#233;cialis&#233;e dans le pr&#234;t et l&#8217;emprunt sur blockchain devient licorne, non pas &#224; la faveur d&#8217;une lev&#233;e de fonds classique, mais gr&#226;ce &#224; la valorisation de son token de gouvernance, d&#233;sormais sup&#233;rieure &#224; 1 milliard de dollars. Fond&#233;e en 2021, la soci&#233;t&#233; revendique environ 12 milliards de dollars de d&#233;p&#244;ts et 4,3 milliards de dollars de pr&#234;ts, avec une infrastructure d&#233;j&#224; utilis&#233;e par Coinbase, Kraken ou SG Forge.</p><div><hr></div><p><strong>Doctolib :</strong> le fleuron fran&#231;ais de la e-sant&#233; lance &#224; Station F un programme d&#8217;accompagnement pour startups europ&#233;ennes de la sant&#233;. L&#8217;objectif : aider des jeunes pousses &#224; d&#233;montrer un impact concret sur le syst&#232;me de sant&#233;, en facilitant leur passage &#224; l&#8217;&#233;chelle, leur adoption par les soignants et leur d&#233;ploiement en Europe.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!hud9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!hud9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" width="1456" height="379" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Merci pour votre lecture et votre fid&#233;lit&#233;.</strong><br>Je vous souhaite une bonne semaine et vous donne rendez-vous lundi prochain, directement dans votre bo&#238;te mail !</p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/subscribe?&quot;,&quot;text&quot;:&quot;Abonnez-vous maintenant&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/subscribe?"><span>Abonnez-vous maintenant</span></a></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-13-d42?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Partager&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-13-d42?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Partager</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[Levées de fonds de la semaine 15 🇫🇷]]></title><description><![CDATA[Montants, tendances, dynamique early-stage. Chaque lundi, le r&#233;cap des lev&#233;es de fonds des startups fran&#231;aises de la semaine pass&#233;e]]></description><link>https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-15</link><guid isPermaLink="false">https://www.anti-dealflow.com/p/levees-de-fonds-de-la-semaine-15</guid><pubDate>Mon, 13 Apr 2026 05:01:45 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/353b2dfc-d60c-464a-a621-b9c9bd45107a_1313x938.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ykQ2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png" width="1456" height="379" 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srcset="https://substackcdn.com/image/fetch/$s_!ykQ2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!ykQ2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4f8664f7-7893-4228-90ac-d24784dbf9c5_5000x1300.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Bonjour,</p><p>Bienvenue dans la 15&#7497; &#233;dition 2026 d&#8217;anti-dealflow, le rendez-vous hebdomadaire qui d&#233;crypte les lev&#233;es de fonds des startups fran&#231;aises et les signaux &#224; suivre dans la tech.</p><p>Les startups fran&#231;aises ont <strong>lev&#233; 80,8 million d&#8217;euros cette semaine</strong>, r&#233;partis sur <strong>9 op&#233;rations</strong>, soit un <strong>ticket moyen de 8,9 million d&#8217;euros</strong>. Le niveau est en nette baisse par rapport &#224; la semaine pr&#233;c&#233;dente, o&#249; la French Tech avait lev&#233; 107,2 million d&#8217;euros, avec un dealflow plus resserr&#233; et tr&#232;s fortement concentr&#233; sur une seule op&#233;ration.</p><p>La physionomie de la semaine est largement domin&#233;e par Aura Aero, qui l&#232;ve 50 M&#8364; et capte &#224; elle seule l&#8217;essentiel des montants. Derri&#232;re, le reste du march&#233; se r&#233;partit sur des tickets beaucoup plus modestes, entre martech, tourisme, IT, culture / m&#233;dias, medtech et mobilit&#233;. </p><p>L&#8217;intelligence artificielle reste visible, mais sur des montants plus contenus : <strong>2 startups IA concentrent 9,3 million d&#8217;euros</strong>, soit 11,5 % des fonds lev&#233;s. </p><div class="pullquote"><p>Vous connaissez quelqu&#8217;un qui s&#8217;int&#233;resse au VC, aux lev&#233;es de fonds ou &#224; l&#8217;&#233;cosyst&#232;me startup ? Partagez-lui l&#8217;&#233;dition.</p></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share&quot;,&quot;text&quot;:&quot;Partager anti dealflow&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.anti-dealflow.com/?utm_source=substack&amp;utm_medium=email&amp;utm_content=share&amp;action=share"><span>Partager anti dealflow</span></a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rrXy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1955671,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rrXy!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!rrXy!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8f13f913-c2fd-4794-8639-91211f3ca8c7_5000x1300.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Aura Aero &#183; S&#233;rie B &#183; 50 M&#8364; &#183; Deeptech</strong><br>Aura Aero est un constructeur a&#233;ronautique fran&#231;ais, sp&#233;cialis&#233; dans la conception et la fabrication d'avions visant &#224; d&#233;carboner le transport a&#233;rien.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Safran Corporate Ventures, EDF, EIC, Innovacom, Florida Opportunity Fund, Bpifrance, Blast.</p><div><hr></div><p><strong>NeuroClues &#183; S&#233;rie A &#183; 10 M&#8364; &#183; Medtech</strong><br>NeuroClues est une entreprise de technologies m&#233;dicales active dans le secteur de la sant&#233; num&#233;rique, qui se consacre principalement au diagnostic pr&#233;coce des troubles neurologiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> LeanSquare, Olivier Legrain, White fund, Invest.BW, EIC Fund, Teampact Ventures, Wallonie Entreprendre</p><div><hr></div><p><strong>Cobl &#183; Amor&#231;age &#183; 6 M&#8364; &#183; Martech</strong><br>Cobl est une plateforme d'IA multi-agents qui transforme le contexte des affaires en propositions commerciales pr&#234;tes &#224; &#234;tre envoy&#233;es.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Bpifrance, Eurazeo, Station F, CIC, Banque Populaire, BNP Paribas, Side Angels, Super Capital, Apok Invest</p><div><hr></div><p><strong>Hepta Medical &#183; S&#233;rie A &#183; 4,3 M&#8364; &#183; Medtech</strong><br>Hepta Medical d&#233;veloppe d&#8217;une technique de traitement non chirurgicale et peu invasive pour les cancers &#224; un stade pr&#233;coce.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> UI Investissement, Supernova Invest</p><div><hr></div><p><strong>Luniwave &#183; S&#233;rie A &#183; 3,6 M&#8364; &#183; Tourisme</strong><br>Luniwave d&#233;ploie une solution qui permet une r&#233;duction de 20% des consommations d&#8217;eau et d&#8217;&#233;nergie des h&#244;tels.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Banque des Territoires, Good Only Ventures, Lita, Side Angels, Inovexus</p><div><hr></div><p><strong>Plume &#183; Amor&#231;age &#183; 3,3 M&#8364; &#183; IA</strong><br>Plume d&#233;veloppe une plateforme g&#233;ospatiale bas&#233;e sur l&#8217;intelligence artificielle qui facilite la s&#233;lection de sites pour les projets d&#8217;infrastructures &#233;nerg&#233;tiques.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> AENU, Y Combinator, Kima Ventures, Raise, Collaborative Fund</p><div><hr></div><p><strong>Playruo &#183; Amor&#231;age &#183; 2,1 M&#8364; &#183; Gaming</strong><br>Playruo offre aux &#233;diteurs et studios une solution cl&#233; en main pour faire d&#233;couvrir une d&#233;mo de jeu, que ce soit pour les testeurs, les journalistes, ou les campagnes marketing.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Blast., Kameha Ventures</p><div><hr></div><p><strong>Hairdex &#183; Amor&#231;age &#183; 1 M&#8364; &#183; Medtech</strong><br>Hairdex est une plateforme de t&#233;l&#233;sant&#233; fran&#231;aise d&#233;di&#233;e aux hommes souffrant de perte de cheveux (alop&#233;cie androg&#233;n&#233;tique).</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> business angels, Hervest Club, Bpifrance</p><div><hr></div><p><strong>Easley &#183; Amor&#231;age &#183; 500 k&#8364; &#183; Mobilit&#233;</strong><br>Easley accompagne les entreprises dans leur transition vers une mobilit&#233; plus durable.</p><p><strong>Tour de table r&#233;alis&#233; par :</strong> Banque Populaire Grand-Ouest, Bpifrance, CCI Vend&#233;e, business angel</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!2-1P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png" width="1456" height="379" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:379,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1947146,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.anti-dealflow.com/i/180026094?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!2-1P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 424w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 848w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1272w, https://substackcdn.com/image/fetch/$s_!2-1P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef2ec5b2-b210-41fe-9947-28e1d4f158c9_5000x1300.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Jeito Capital :</strong> la soci&#233;t&#233; d&#8217;investissement sant&#233; boucle son deuxi&#232;me fonds &#224; plus d&#8217;un milliard d&#8217;euros, un record pour le secteur des biotechs en Europe. Avec ce v&#233;hicule, Jeito pourra investir jusqu&#8217;&#224; 150 millions d&#8217;euros par participation dans 15 &#224; 20 biopharmas d&#233;veloppant des th&#233;rapies de rupture, sur fond d&#8217;int&#233;r&#234;t renouvel&#233; pour les actifs europ&#233;ens de sant&#233;.</p><div><hr></div><p><strong>Revolut :</strong> la n&#233;obanque britannique ouvrira en 2027 son si&#232;ge pour l&#8217;Europe de l&#8217;Ouest rue de R&#233;aumur, en plein c&#339;ur de la &#171; Silicon Sentier &#187;, dans un immeuble de 2 400 m&#178; capable d&#8217;accueillir 500 salari&#233;s. Ce hub parisien pilotera plus de 25 millions de clients sur six march&#233;s europ&#233;ens et s&#8217;inscrit dans la strat&#233;gie de Revolut pour obtenir une licence bancaire en France.</p><div><hr></div><p><strong>Aura Aero :</strong> le constructeur toulousain s&#233;curise 340 millions d&#8217;euros pour acc&#233;l&#233;rer son industrialisation, avec une s&#233;rie B de 50 millions d&#8217;euros compl&#233;t&#233;e par 120 millions de subventions et 170 millions de dette. L&#8217;entreprise veut lancer la production de ses avions &#233;lectriques et hybrides depuis Toulouse et la Floride, avec en ligne de mire un premier vol de l&#8217;ERA en 2027 et une mise sur le march&#233; &#224; l&#8217;horizon 2030.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!hud9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!hud9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc57dc6bd-5518-43ea-ae9c-857c7584a9a3_5000x1300.png 424w, 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