French start-ups: an overview of record-breaking fundraising rounds
After two years of market correction, the funding landscape is stabilizing. In 2025, French start-ups raised between €7 billion and €8 billion. In early 2026, a handful of companies are capturing most of investors’ attention through record-breaking fundraising rounds.
Insights and analysis by the experts at AURIS Finance, an M&A and financial advisory firm.
Which French start-ups are attracting investors today? In early 2026, the market remains highly selective. Investor appetite is concentrated around strategic sectors such as AI, defense, healthcare, and energy.
A closer look at four recent fundraising rounds exceeding €50 million.
Pennylane: securing its next stage of growth
Pennylane, the fintech unicorn, raised €175 million earlier this year in a round led by TCV, with participation from Blackstone Growth and its existing investors.
The accounting and financial management software provider, already profitable, had no immediate financing needs but is anticipating the widespread adoption of e-invoicing and tighter regulatory requirements in France and across Europe. The round provides additional security for one of France’s flagship tech companies, now valued at €3.5 billion.
Harmattan AI targets ultra-fast growth
Harmattan AI, founded in 2024 and specializing in AI-powered military drones, is following an exceptionally rapid growth trajectory. After securing an initial €25 million round, the company has now raised €171.2 million in a financing round led by Dassault Aviation.
This major fundraising round comes amid growing defense spending and Europe’s push for technological sovereignty. Backing from Dassault Aviation represents a critical step change, enabling Harmattan AI to accelerate the industrialization of its solutions, integrate more easily into existing defense programs, and expand into broader markets.
For investors, this signals a structured and credible long-term opportunity.
DentalMonitoring accelerates international expansion
In the healthcare sector, DentalMonitoring raised $100 million from Lazard Elaia Capital and Isalt.
The company offers an AI-powered remote orthodontic monitoring solution that allows patients to take photos of their teeth using their smartphones. The platform then analyzes these images to track treatment progress without requiring repeated in-office appointments.
This fundraising round reflects strong momentum in the orthodontics market, driven by rising demand for aesthetic treatments and technological innovation. Recent consolidation transactions, such as the acquisition led by Extens in orthodontic software, also highlight growing investor and corporate interest in this segment.
Already used by millions of patients worldwide, DentalMonitoring’s solution addresses a simple challenge: saving time for practitioners while improving patient follow-up.
Newcleo moves to the next level
In early February 2026, Newcleo announced a new funding round of more than $85 million, approximately €75 million, bringing its total capital raised since 2021 to more than €645 million.
Newcleo is developing breakthrough technology: a fourth-generation lead-cooled fast neutron reactor designed to reuse waste from the existing nuclear cycle.
This latest round will support the expansion of its European R&D infrastructure and the construction of Precursor, a 10 MW non-nuclear lead-cooled test system.
Fundraising: maximize your chances
In a more selective market, successfully raising capital requires rigorous preparation: strong project structuring, strategic clarity, and financial credibility.
Today’s investors are looking for resilient companies with clear and well-managed growth trajectories.
The experts at AURIS Finance support executives and shareholders at every stage of the process: fundraising preparation, investor identification, transaction structuring, and negotiations.
Do you have a project? Contact us.
