|
External newsletter January 2025 - N° 165
|
|
|
|
|
|
|
Dear Business Angels friends, dear readers,
The entire BADGE team joins me in wishing you a very happy new year 2025. May it bring you health and the strength to succeed in your projects.
On January 9, In Extenso Innovation Croissance published its 2024 fundraising barometer, which forecasts a 10% contraction in the volume of financing in 2024. This indicator aggregates all French tech financing segments, including mega-raises in excess of €100 million, of which there were twelve last year.
More modestly, the trend at BADGE does not belie these leading indicators. Amounts contributed by our members will also be down by around 10%. 2023 was an exceptional year, but 2024 remains a good year for seed financing. I'll be coming back to our figures in more detail, once they've been collected. One result we can already highlight is the renewed interest in Deeptech. Our members have continued to support biotechs, which require a sustained research effort before their products can be adopted by the medical profession. They have also turned their attention to promising, albeit very early-stage, industrial projects such as Start-up Wallace technologies, which offers a highly compact heat exchanger for energy storage, and Aithra, which produces advanced ceramics for the defense and space industries using additive manufacturing.
Our members' interest in technology and their desire to contribute to the France 2030 plan to reindustrialize the country is certainly a factor, but would they have invested so much in these risky projects if it hadn't been for the government's support through the Midy tax incentive scheme, which grants a 50% tax credit for individual investments in a "JEI de Rupture"?
In 2024, a good number of our portfolio companies have continued to call on their Business Angels investors, as money from the Funds has become scarcer. The initial fall in interest rates that began last summer should bring more flexibility in 2025, at least I hope so and am confident.
Last year saw two excellent outings, and those who attended our network's 20th anniversary party were able to hear about one of them: INCITAT Environnement. Others are on the horizon for this year, which is just beginning.
So let's continue to support innovation through the Business Angels of the Grandes Ecoles.
Best regards,
Paul Leondaridis,
Chairman of Business Angels des Grandes Écoles.
|
|
|
|
|
|
Develop projects to accelerate
value creation
|
|
|
|
|
|
Project appraisal plays a central role in the investment process of business angels. It is not limited to a simple evaluation, but is part of a rigorous analytical approach. This process mobilizes a variety of skills and aims to reduce uncertainties while aligning collective strategy and return on investment.
At BADGE, this stage comes after the elevator pitch. It enables the business angels, often in pairs, to get involved in a "coup de cœur" project for which they feel a particular sensitivity. This is followed by in-depth discussions with the startups, during which the risks are broken down and assessed according to key criteria such as economic viability, the relevance of the strategic positioning and the human qualities of the operational teams. The aim is not only to identify the project's strengths and weaknesses, but also to propose concrete levers for improvement.
Each year, with nearly 1,000 startups examined, BADGE benefits from an exceptional pool of promising projects. Of these, only around thirty make it past the Selection Committee, and only a dozen or so go on to expand the portfolio of companies financed in the first round. Faced with growing financing needs, mobilizing more business angels ready to become instructors is a major challenge.
To support its instructors, BADGE organizes two annual training sessions on project appraisal, open to both young and experienced BAs. These sessions offer an immersion in the tools and key stages of the process, from the first exchange with the project owner through to the closing of the fund-raising. They are complemented by specific training courses/meetings, notably on negotiating shareholder agreements and supporting post-rising companies.
To guarantee quality analyses, BADGE relies on business angels who are experts in various fields (development, human resources, intellectual property, etc.). They provide invaluable technical support to the instructors, helping to enhance the relevance of the assessments.
At the same time, the association collaborates with other business angel networks and funding bodies. These partnerships promote synergy of resources and pave the way for co-investment in ambitious projects.
Instructing a project is a stimulating and enriching opportunity. It's a chance to learn, share experiences and strengthen ties with other investors. But above all, it's a concrete way of having a direct impact on the success of startups and, by extension, on innovation in France.
|
|
|
|
|
UPCOMING EVENTS
|
 |
|
>>> PROJECT PRESENTATIONS
|
|
Monthly meetings with presentations of innovative fund-raising projects led by Philippe Pernot, Vice-Chairman in charge of project appraisal.
Members only.
Non-members, ask for your invitation.
|
|
|
|
|
|
|
|
Thursday, February 13, 2025 at 5:30 p.m.
Monthly meeting, Maison des Agros, 5 quai Voltaire 75007 Paris and by Zoom.
|
| I request my invitation |
|
|
|
|
|
|
|
|
Thursday, March 27, 2025 at 5:30 pm
Monthly meeting, Maison des polytechniciens, 12 rue de Poitiers 75007 Paris and by Zoom.
|
| I request my invitation |
|
|
|
|
|
|
|
|
|
Baromètre 2024 des levées de fonds In Extenso Innovation Croissance, ESSEC Business School and France Angels
|
|
France Angels in partnership with In Extenso Innovation Croissance and ESSEC Business School presents the 2024 fundraising barometer "Perfused with AI, how long will French Tech be able to resist?".
Some key figures:
-
8.1 billion raised by French Tech in 2024, down 10% on 2023
-
47.4 billion in revenues for European Tech in 2024, down 8% on 2023
-
Number of deals down 18% in France and stable in Europe (+2%), compared with 2023
Read the testimonials from Pierre Carli, President of Capitole Angels, Philippe Rase, President of Grenoble Angels, Christophe Baralotto, President of Provence Angels & Jacques Meler, Co-President of France Angels.
|
| Read the press release |
|
|
|
|
|
|
|
News from our funded startups
|
|
|
|
|
|
|
Telegrafik strengthens its capital base to accelerate development
|
 |
|
|
|
Telegrafik, a start-up and pioneer in the field of connected healthcare, has announced a strategic capital restructuring, with new investors joining the company (notably the Bataille industrial group). This decision marks a major step forward for the company, whose solutions combine artificial intelligence and connected objects to help the frail and elderly remain at home.
With this financial backing, Telegrafik aims to accelerate its technological development and strengthen its ability to meet growing market needs. The aim is to offer increasingly high-performance, accessible solutions tailored to an ageing population, while supporting professionals in the medical-social sector.
|
| Read more |
|
|
|
|
|
|
OPUS Aerospace signs a contract with CNES for the launch of its Mesange suborbital demonstrator
|
 |
|
|
|
Start-up Opus Aerospace is entering a new phase in its development, with the planned launch of its Mésange suborbital demonstrator from the Guiana Space Center in 2025.
This project marks a turning point for the company, which will use Mésange to test innovative technologies in real-life conditions, including a 3D-printed heat shield. This first flight also paves the way for the development of the company's future "Sterne" micro-launcher.
Founded in 2019, Opus Aerospace is supported by CNES and Bpifrance through the France 2030 plan. This partnership illustrates the key role played by public and private players in supporting French technology start-ups. This inspiring success demonstrates the potential of young French companies in cutting-edge sectors such as aerospace.
|
|
|
|
|
|
|
|
Our startups are recruiting
|
|
|
|
|
|
|
The Cyclair start-up uses precision robotics, information technology and artificial intelligence to ensure the economic and ecological transition of agriculture in France. The company is looking for a Mechanical Engineer (M/F) to join its team.
|
| I am applying |
|
|
|
|
|
|
|
|
|
Great projects to invest in within our network
|
|
|
|
|
|
|
|
Kimialys develops and markets an innovative chemical treatment for surfaces used in diagnostics (nanoparticles, chips, electrodes), making it possible to increase the sensitivity and specificity of tests, and thus pave the way for new clinical applications. Kimialys' core technology is based on a proprietary method of pre-functionalizing biochips and nanoparticles, and represents a major breakthrough in biosensor coating.
|
|
|
|
|
|
|
|
The start-up deeptech XiMed aims to solve the problem of overconsumption of macrobiopsies by exploiting a new patented phase-contrast X-ray imaging technology, developed since 2017 at the ALPhANOV photonics and laser technology center. This technology makes it possible to achieve levels of resolution making it possible, for the first time, to create a new, more precise semiology of breast microcalcifications. Eventually combined with a diagnostic aid module based on artificial intelligence, XiMed aims to revolutionize the clinical workflow for the early detection of breast cancer, by precisely qualifying microcalcifications directly on mammographic images, thus avoiding unnecessary macrobiopsies for millions of patients.
|
|
|
|
|
|
|
|
Starkage Therapeutics is a biotechnology company focused on combating cellular senescence in various pathologies, notably cancer. Its main program consists of developing innovative antibodies (targeted therapies) aimed at specifically eliminating senescent cells present in conventional cancer treatments, thereby increasing the efficacy of these treatments and reducing side effects.
|
|
|
|
|
|
|
|
Crystal Quantum Computing creates a quantum computer with trapped ions. Quantum computers use the properties of quantum physics - the principle of quantum superposition and the entanglement effect - to perform calculations involving large volumes of information, calculations unattainable for conventional computers. The company has opted for quantum computer technology, in which ions are trapped by spinning electric fields.
|
|
|
|
|
|
|
|
Luchrome is a deeptech start-up created in July 2023 and incubated at Bordeaux Technowest, focusing on the manufacture and sale of screens that have the advantage of being the most energy-efficient display technology on the market, ideal for connected objects. The invention, which is protected by several patents, is aimed at the low-power display market ($2 billion), with several applications: connected labels for the retail sector at the head of the aisle, and for logistics in addition to consumer electronics (see TDS). Thanks to breakthrough innovations in low-power consumption, the printing capacity of these devices and their low environmental impact, Luchrome intends both to replace certain products (retail) and to offer new applications for displays.
|
|
|
|
|
|
|
|
IMMOBLADE is a start-up offering a major innovation in solar protection and energy efficiency for buildings. With its totally fixed sun-breaking blades, the orientation of which is adapted to each building façade, our system blocks the sun in summer and lets it in completely in winter. Bio-climatic, maintenance-free and both elegant and simple, our product is particularly well-suited to tertiary sector buildings: offices, head offices and shopping centers. The company is currently in the commercial and industrial take-off phase, and has won over a number of reference clients (DIrection de l'Immobilier de l'Etat, ADP, Bouygues, La Poste...).
|
|
|
|
|
|
|
|
Founded in 2019, OPUS Aerospace is a French start-up that aims to develop launch solutions dedicated to small satellites to accelerate space exploration. Through STERNE, its range of reusable launchers, it will enable payloads of up to 300 kg to be placed into precise orbit on the desired date. Today, the company is developing its first suborbital rocket, named "Mesange", which will be launched to embark its technologies & its first customers.
|
|
|
|
|
|
|
|
By offering welders a piloted collaborative arm, Weez-U Welding 's aim is to eliminate the risky, tiring and repetitive aspects of their work. Welders benefit from improved comfort, produce higher quality welds and increase their productivity. At a time when many companies are finding it hard to recruit, our solution makes the job more attractive. An initial piloted welding solution, using a standard robotic arm, has been in service with our customers for two years, and has sold 7 units. Weez-U Welding is preparing a new version of its piloted welding cobot, based on an ultra-lightweight robotic arm, which will be available for pre-production at the end of 2024. This product represents a major breakthrough in the robotics market.
|
|
|
|
|
|
|
|
Despite their performance, silicon solar panels have some notable limitations: their rigidity, weight and unattractive appearance restrict their use. They are difficult to integrate on surfaces that are curved, small or require careful design. Optipus PV offers an innovative solution with Energy Skin. These lightweight, flexible and colorful photovoltaic modules push back the boundaries of organic photovoltaic (OPV) technology, combining efficiency and design diversity. The start-up initially targets consumer electronics products for renewable energy supply, with extended potential applications: listed buildings, electric bikes and cars, boat sails, and much more.
|
|
|
|
|
|
|
|
Medicud is a start-up that has developed an advanced medication to reduce post-operative complications following surgery. The device uses negative pressure therapy, delivered by a constant, fully mechanical suction system, to limit complications. Medicud is the first non-French start-up to be accepted by the 50 Partners Health gas pedal, with four business angels committed to investing. Ties with France are growing stronger, as one of the three producers is French, as is Medicud founder Antonio, a native French speaker.
|
|
|
|
|
|
|
|
Rheonova' s mission is to make rheology accessible to all, with products and services that combine cutting-edge performance from the academic world with revolutionary ease of use. This hybrid model, combining services and products, gives the company great resilience, the ability to address the market rapidly and to finance a large part of its development. The company offers intelligent, affordable solutions for viscosity measurement, including Rheomuco, a medical diagnostic device for quantifying the viscosity of bronchial mucus in patients with chronic muco-obstructive respiratory diseases (COPD, severe asthma, cystic fibrosis, bronchiectasis), and easyRheo, dedicated to industry (pharma, agri-food, cosmetics), facilitating viscosity measurement in a variety of environments.
|
|
|
|
|
|
|
|
Knock Knock offers a penetration test orchestration and automation platform designed for pentesters and cyber defense experts, enabling them to maintain continuous cybersecurity monitoring. This solution fosters seamless collaboration between offensive and defensive teams. This strategic positioning enables Knock Knock to target the pentest software market, valued at $2 billion by 2024, with annual growth of 14.4%. In addition, it paves the way for the vulnerability management market, estimated at $14.4 billion in 2024, a fast-growing sector due to increasing geopolitical tensions and tightening regulations.
|
|
|
|
|
|
|
|
INSPEERE offers DATIS, an innovative, sovereign backup solution, recognized by the JEIR and Résimark labels in 2024. This technology combines economic and environmental efficiency, surpassing traditional Cloud services. Based on the work of co-founder Olivier DALLE, DATIS uses a resilient peer-to-peer network to simplify 3-2-1 backup best practices, crucial for SMEs and ETIs according to ANSSI and CNIL. INSPEERE mainly targets local authorities, hospitals and ETIs, where the DATIS technical proposal generates strong interest. Although sales cycles are long, the strategic partnership with distributor MIEL from 2025 is targeting sales of 1 million euros, supported by a rapidly expanding network of resellers.
|
|
|
|
|
|
|
|
|
|
|
|
|
Call for entries Challenges 2025
"100 start-ups to invest in
|
|
|
|
Are you the founder of a start-up looking for financing to accelerate its development?
Apply today to join the Challenges selection of "100 start-ups to invest in", a unique opportunity to gain visibility with investors and the entrepreneurial ecosystem.
Closing date for applications: Monday January 29 at midnight.
For the past 15 years, this Challenges selection has been an essential reference, published on March 28, and widely followed by industry professionals.
The Patrick Fauconnier Prize:
Created as a tribute to our founder, who was passionate about entrepreneurship and education, this prize will be awarded to the jury's favorite start-up among the "100 start-ups to invest in".
To apply, check that your start-up meets the following criteria:
- Head office based in France
- Less than 4 years of existence (created after 2019)
- Generate sales (except biotech, deeptech and industry)
- Not have been selected in previous editions
- Be raising funds before March 2024
- Be independent (not affiliated with a major group and not listed)
This year's categories :
- Medtech & Biotech
- Fintech
- Digital Services & eCommerce
- Greentech & Impact
- Deeptech & Industry of the future
- Software & AI
Don't miss this chance to make your start-up shine!
Register now to be part of this prestigious selection and attract the attention of investors.
|
| Registration |
|
|
|
|
>>> EDITORIAL COMMITTEE
Paul Leondaridis, President / Yannis Sahraoui, Managing Director
Dimitri Lionel A.Omgba, Communications Manager [Send your subject to the editor]
|
|
|
|
|
