The fundraising rankings have a consistent pattern and appearance each year. And anyone attempting to compare them will get cold sweats when using their criteria.
Because of the companies EY, KPMG, and In Extenso (affiliated with ESSEC Business School), the local tech scene is once again being closely watched for the size and significance of its fundraising in 2022. With the company EY's ranking, which has a history of dictating the tone on the investment scene, as a starting point.
Furthermore, at a time when France has already distinguished itself by its tenacity, raising 130.5 billion euros from 735 companies (i. e.
According to the most recent count from EY, the auvergne rhône-alpes region would "outperform" even when compared to the national average, raising a total of 841 million euros through 77 operations (a rise in value of 17%, but a decrease in volume of 6%). Since it had recorded 670 million in 71 transactions in 2021, there has been a growth of 25 percent in transaction value and an increase of 8 percent in volume.
"However, it is interesting to note that while volume is seen to be slowing down nationally, this is not the case for AURA, which continues to be a desirable region for fundraising. Similar to the national trend, which was calmer in the second half of the year, the trend in the region is also not confirmed, as evidenced by important operations that were finished in the second half of 2022, such as those of Verkor, Iten, or Mablink, according to the firm EY.
One of the first surprises will, however, come from the rankings because, even though the auvergne rhône-alpes region typically finishes in second place on the podium at the national level every year, the year 2022 marked an exception in terms of this barometer. Highlighting the massive fundraising of 294 million euros from the company Exotec ($335 million), which effectively propelled hauts-de-france to second place, with a total of 979 million euros in funds raised First scenario: auvergne rhône-alpes slips to third place, but Loc Jeambrun, associate lawyer at EY and head of the Entreprises en Croissance auvergne rhône-alpes group, speaks more of an "opportunity effect": ".
Because in his opinion, despite the significant development seen in other regions, the top three fundraising efforts in auvergne rhône-alpes (with 250 million Verkor, 80 million Iten, and 48 million Unity Sc) are still difficult for other areas to match, such as New Aquitaine, which has undoubtedly gone as far as to triple its financial base this year (with a top 3 made up of fundraising at 50, 70, and 100 million euros), but for a total of 577 million euros. The three biggest fundraising efforts ever noted in auvergne rhône-alpes are based on the industrial sector for the first time, with two young shoots in the battery industry (Verkor, Iten) and one in the semiconductor industry (Unity Sc).
In a time when we are talking about the reindustrialization of strategic assets, it's interesting to highlight this trend, claims Loc Jeambrun. More generally, according to EY, the three industries that will dominate the year 2022 in the regions are cleantech (including batteries), which accounted for 36% of the total amount raised, technologies (20%), and life sciences (4%).
life (13 percent), which continues to be one of the strengths of the local community. Second scenario: between 700 million and 742 million On the KPMG side, the most recent fundraising study conducted in 2022 also acts to a good progression in Auvergne Rhône-Alpes, much stronger than at its colleague EY, since it recognizes 742 million euros collected through 33 operations in 2022, compared to only 364 million retained, and resulting from 21 operations during the previous year. "We are talking about a virtual doubling of the figures," declares Jean-Pierre Val.
It should be noted that the KPMG barometer proves to be more restrictive than other competitors by only including fundraising carried out in equity - excluding bank debt-, with an entry ticket of more than 3 million euros, and conducted furthermore on independent technology companies. Thus, for the year 2022, the business of the animal insurance provider SantéVet (150 million), the green electricity provider GreenYellow (200 million raised, including 109 million bonds convertible into shares retained), as well as the Lyon microbattery manufacturer Iten (80 million), are among the top 3.
Additionally, it should be noted that, in contrast to other regions, the auvergne rhône-alpes Region "maintains its rank" and has continued to record "several very good level operations" this year, which support its advancement. For its part, the barometer of the company In Extenso Croissance, run in conjunction with ESSEC Business School, will prefer to hold onto a total of nearly 700 million euros raised in auvergne rhône-alpes through 97 operations in 2022.
In comparison to the data from the prior year, that represents an increase in the amount raised by 45 percent and the number of operations by 33 percent. Iten (80 million), Diabeloop (70 million), Unity Sc (48 million), and Fifteen (40 million) round out the top three, with Navya (36 million) and Iten (80 million) rounding out the list.
Due to the funds being viewed as falling outside the purview of development capital (i.e. the raising of 250 million from the Isérois Verkor), he too does not include them. e.
50 million from the government, 49 million from the European Investment Bank, and 60 million in convertible bonds). Even though it is undeniable that the annual ranking continues to be greatly influenced by the announcement schedule, the auvergne rhône-alpes region will once again end the year on the second rung of the podium as usual in this category.
As Nicolas Forey, partner and director of the auvergne rhône-alpes market for In Extenso, explains, "We can see clearly that significant fundraising can occur and upset the scene at a given moment, like that of Exotec for example. Nicolas Forey instead advocates for the study of major trends in rainy years, where "the AURA Region is then not concerned by the scores of other territories.". Even if we consider the year 2022, Auvergne Rhône-Alpes, for instance, conducts 5x5 times fewer operations than Ile-de-France, which continues to lead nationally in 10 of the 136 billion raised over the past year, but it also performs twice as well as New Aquitaine, for instance, which conducts 55 operations.
Thus, it is clear that there is still a significant gap, "he adds. Considering 2023 with caution For 2023, however, all analysts are optimistic: the slowdown in investment that has been seen on the national scene for several months should continue, at least in the first half of 2023.
According to Loc Jeambrun, partner at EY, "the year 2022 was an intermediate year, between a 2021 that was a very active year, and a year 2023 where we feel that investors will become more selective and seek more profitability and profitability signals.". He does, however, anticipate that there may be additional rounds in the future, particularly "in the field of cleantech, which completed operations in 2021 and will likely need to start a new cycle in 2023–2024.
On the side of the KPMG cabinet, Jean-Pierre Valensi also harbors doubts about the closing of "mega rounds" in the year 2023, as we have seen over the previous twelve months, “in particular because investors will seek greater profitability and solidity, with business models that generate profits, in the short and medium term”. And to add: "It will be necessary to be vigilant that this trend does not all the same pose issues of sustainability and more generally, of independence from France, in sectors which had begun to structure and finance themselves, so that they are not affected by this climate in the next round.
According to him, the valuation of Tech players, which is falling due to the economic context, as well as the tendency to redirect savings towards products deemed less risky, could thus produce a "double kiss cool effect" to be monitored. in 2023.
And this, even if on the other hand, he also sees positive signals with the emergence of dedicated funds set up to support pre-IPOs. What about future tech unicorns in the regions? In such a context, what about the hatching of the long-awaited unicorns on a regional scale, since the launch of French Tech? Because it should be noted that this year again, none of the eight new French unicorns announced is auralpine On this subject, the analysts are rather divided: because everything still depends on what is called a unicorn.
As a reminder, the commonly accepted definition covers any startup less than ten years old, which has reached the symbolic cap of one billion dollars in value (often after a round of funding exceeding 100 million euros), and that, even before going public. For Loïc Jeambrun, this objective is achievable, and why not even in 2023: “We are starting to have several candidates with significant fundraising approaching 100 million, such as eCential Robotics, Agicap or Afyren already in 2021”.
And to add: "We are hopeful of seeing one emerge in auvergne rhône-alpes in 2023, because if at some point the industrial sector could be a less popular field in the field of innovation, today today this is no longer the case and it is even an asset”. According to Jean-Pierre Valensi, at KPMG, "there is also no reason for auvergne rhône-alpes to be outdone, since technically, we already have players like GreenYellow (since acquired by Ardian, editor's note ) which are valued at more than one billion But it takes time to reach a form of sufficient maturity, to build a business and to develop internationally while generating recurring revenues that can vary between models.
For his part, Nicolas Forey at In Extenso Croissance, remains more cautious: "For me, the unicorn is a combination of a relevant value proposition, a hugely growing market that can justify a need, and a valuation that exceeds the billion dollars. This combination, which is therefore not obvious, is however not necessarily linked to the region, even if there could be great opportunities in the field of energy or semiconductors, which are part of the strengths of the fabric.
regional. to build a business and to develop internationally while generating recurring revenues that may vary between models.
For his part, Nicolas Forey at In Extenso Croissance, remains more cautious: "For me, the unicorn is a combination of a relevant value proposition, a hugely growing market that can justify a need, and a valuation that exceeds the billion dollars. This combination, which is therefore not obvious, is however not necessarily linked to the region, even if there could be great opportunities in the field of energy or semiconductors, which are part of the strengths of the fabric.
regional. to build a business and to develop internationally while generating recurring revenues that may vary between models.
For his part, Nicolas Forey at In Extenso Croissance, remains more cautious: "For me, the unicorn is a combination of a relevant value proposition, a hugely growing market that can justify a need, and a valuation that exceeds the billion dollars. This combination, which is therefore not obvious, is however not necessarily linked to the region, even if there could be great opportunities in the field of energy or semiconductors, which are part of the strengths of the fabric.
regional. Nicolas Forey at In Extenso Croissance, remains more cautious: “For me, the unicorn is a combination of a relevant value proposition, a hugely growing market that can justify a need, and a valuation that exceeds one billion dollars.
This combination, which is therefore not obvious, is however not necessarily linked to the region, even if there could be great opportunities in the field of energy or semiconductors, which are part of the strengths of the fabric. regional.
Nicolas Forey at In Extenso Croissance, remains more cautious: “For me, the unicorn is a combination of a relevant value proposition, a hugely growing market that can justify a need, and a valuation that exceeds one billion dollars. This combination, which is therefore not obvious, is however not necessarily linked to the region, even if there could be great opportunities in the field of energy or semiconductors, which are part of the strengths of the fabric.
regional.
Similar to the national trend, which was calmer in the second half of the year, the trend in the region is also not confirmed, as evidenced by important operations that were finished in the second half of 2022, such as those of Verkor, Iten, or Mablink, according to the firm EY.
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