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The booming ecosystem of French cyber startups

The 2023 edition of Wavestone’s “French cybersecurity innovation overview” shows strong momentum, unlike the rest of tech.

Digital transition - July 21, 2023

Wavestone recently published its new “French cybersecurity innovation overview”, in partnership with Bpifrance. The report analyzes the ecosystem of 165 French startups, including 31 scale-ups and one unicorn.

All in all, in 2024, these Internet startups raised 341 million EUR, with some fundraising rounds bringing in almost 40 million EUR. In a gloomy context for tech investment, in France and abroad, this amount is “exceptional ”. “The momentum behind fundraising this year is particularly impressive and shows the attractiveness of all things cyber,” confirms Gérôme Billois, from the Wavestone firm.

In the past four years, an average of 25 new startups have emerged in France each year. Wavestone deems the last generation is “particularly innovative” and focuses on creating new markets. The report mentions high growth potential, disruptive technology: AI, next gen data security, SME cyber protection and post-quantum security.

Our startups must act on these issues and be at the cutting edge of technology. This will surely involve a better relationship with the research ecosystem, which is already very active in the area,” encourages Gérôme Billois.

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