The new European companies have raised $ 8 billion in 2024

In just a few days, France will be the host of Artificial Intelligence Action Summitwith heads of state who come to Paris to meet global technological leaders. Most likely, they announce some large investments and diplomatic agreements focused on the security or environmental impact of artificial intelligence.

Before the summit, the Early Stage VC company Galion.exeGrowth Investment Company RevaiaAND ADVICE SIGNATURE Chausson Partners They have joined to create the French AI Reportwhich analyzes current trends in the technological ecosystem.

While all eyes are currently in the United States and China with OpenAi that seeks to raise tens of billions of dollars and Speedseek capturing everyone’s attention, there has also been a boom in new AI companies in Europe. In 2024 alone, AI companies represented about 20% of all VC funds in the region.

In total, that represents around $ 8 billion in funds for new AI companies in 2024. That metric will probably grow rapidly, since new AI companies remain relatively young. The seventy percent of the capital collected by the new AI companies in 2024 was for a round of seeds to series B.

European countries that tend to attract VC funds in general have also become the main AI investment centers, with the United Kingdom leading the group, France and Germany following their example, and the Nordics exceed above their weight ( demographic). Here is the breakdown from 2020 to 2024:

Interestingly, as IA companies become larger, they tend to attract international investors, with US venture capital companies that represent about 50% of the money invested in AI companies in the round of series C and later .

In France more specifically, there are “more than 750 new companies that have created 35,000 jobs and operate in all areas that are transforming today’s society,” said Delegate Minister of Artificial Intelligence and Clear Chappaz Digital Technologies at a press conference.

He also mentioned that there are 2,000 scientists focused on AI and 600 doctoral students who work in artificial intelligence. And it is possible that there are also enough French engineers and researchers who work for AI companies in the United States.

The team behind the French AI report observed more closely to the 400 new companies in France and tried to identify the rising stars. While Mistral AI and Poolside are already family names for readers who have followed the AI ​​industry, the vast majority of new AI companies are not working on the next base model.

In the Infrastructure Front, some companies are optimizing data workflows and pipes, such as Linkup and Kestra, or improving inference performance, such as Mmlo Development agents that can examine large data sets and improve productivity. Dust is a good example of that.

But the reality is that most of the new AI companies in France are focusing on applications for specific verticals. According to this report, two important areas for new AI companies in France are health and weather.

Owkin and its Spin-off biotechnological company Biopimus have led the package in the front of health technology, but it is a surprisingly diverse group of companies with three large areas of interest: image tools, medication discovery and improvement of medical treatment.

Similarly, while a large part of the AI ​​industry focuses on productivity profits for office workers, artificial intelligence is also actively used to build the next generation of new climatic companies. In addition to the management of Agritech, Carbon and Energy, two related issues seem to be a great approach. There are also a handful of new promising companies that are emerging (Altrove, for example).

All companies included in the list can be found here. You will also find many AI companies that work in a work function (sales, customer service, human or legal resources) and the use of AI to simplify the most common tasks.

Of course, some companies will not be there in five years. But many of them are currently growing at a fast pace. We are still at the beginning of the AI ​​revolution, and although it is easy to think about the AI ​​industry as a zero -sum game with a country or a company “winning” over the others, it seems that the AI ​​boom is more distributed from what was expected.