Bpifrance

Bpifrance is a financial institution dedicated to supporting companies throughout their development stages, particularly those preparing for stock market listing and seeking credit equity. The organization provides a range of financial solutions, including financing, innovation assistance, and capital investment. By integrating various entities such as OSEO and CDC Entreprises, Bpifrance aims to deliver tailored financial support that addresses the specific needs of businesses. The institution is committed to fostering innovation and helping companies transition toward sustainable growth, ensuring they are well-equipped to face future challenges.

Laurent Arthaud

Managing Director

Marion Aubry

Investment Director

Emmanuel Audouard

Director of Transverse Venture Capital Investments Division

Benoit Barteau Ph.D

Investment Director

Nicolas Berdou

Investment Director, Defense Expert

Clarisse Blandin

Investment Director

Edouard Combette

Investment Director

Charlotte Corbaz

Deputy Director of the Large Venture Fund and Deputy Managing Director

Nicolas Dardenne

Senior Investment Director, Normandy (Caen Rouen)

Arnaud Despoisse

Director of Occitanie Participations

Philippe Dutheil

Investment Director

Mailys Ferrere

Director of Large Venture Investments

Jean-Marie Fougeray

Senior Investment Director, Brittany

Paul-Francois Fournier

Executive Director, Innovation Department

Pierre Gillet

Investment Director

Vanessa Giraud

Managing Director

Gwenaël Hamon

Senior Investment Director

Laurent Higueret Ph.D

Senior Investment Director

Louis Janneau

Investment Director and Fund Manager

Magali Joessel

Director of Funds

So-Yeon Koo

Senior Investment Manager

Jérôme Langlade

Investment Director Aquitaine / Limousin / Poitou-Charentes

Eric Lefebvre

Director

Stephane Lefevre-Sauli

Senior Investment Director

Arnaud Legardeur

Investment Director

Chahra Louafi

Senior Investment Director

Elyssa Maufras du Châtellier

Investment Director

Quentin Mayolle

Senior Investment Officer

Serge Mesguich

Director of FIT

Laure Michel

Investment Director

Louis Molis

Investment Director

Jean-Francois Morin

Investment Director

Sébastien Moynot

Director

Adrien Muller

Investment Director

Adrien Néel

Investment Director

Axel Piriou

Director of Investments

Olivier Rameil

Senior Investment Director / VC seed

Vincent Roque

Director

Thibaut Roulon Ph.D

Investment Director

Gilles Schang

Deputy Director

Claire Waché

Senior Investment Officer

Past deals in Embedded Software

Swan

Series B in 2025
Swan is a Paris-based fintech company founded in 2019 that specializes in embedded finance through its Banking-as-a-Service platform. It enables businesses to create and manage bank accounts, issue cards, and generate IBANs seamlessly using straightforward APIs. Serving more than 60 clients across ten European countries, Swan handles over 200 million euros in transactions monthly. The company is staffed by over 100 employees, led by experts in the fintech sector. As a licensed financial institution regulated by the ACPR, Swan operates as a principal member of Mastercard, positioning itself as a key player in the European financial technology landscape.

Keysom

Seed Round in 2024
Keysom is a technology company that specializes in developing RISC-V based processor architectures. Their core product is a no-code architectural exploration tool, designed to facilitate the creation of customizable processor designs. This tool automatically builds processor architectures from application source code and allows for dynamic reconfiguration, enabling industries to design custom processors without extensive technical expertise.

Eyco

Series A in 2024
Eyco is a manufacturer specializing in the design and production of smart circuits and hardware elements for the digital applications sector. Operating within the European microelectronics industry, the company focuses on creating innovative industrial machinery that minimizes environmental impact. By ensuring efficient mass production tailored to client specifications, Eyco enables secure digital applications while promoting sustainability in technology. Its commitment to advancing the high-tech ecosystem of electronics positions Eyco as a key player in the development of environmentally responsible solutions in the digital landscape.

Prove & Run

Series A in 2023
Prove & Run has been created with the idea that large scale deployment of connected objects will become a target for remote cyber-attacks and that the technologies in use in the mobile industry were insufficient to answer to the challenge. When designing connected objects, security engineers can in effect rely on three pillars: (1) Secure elements or hardware coprocessors; (2) Trusted Execution Environment (TEE) or secure OSs; (3) Hardware - or software-based hypervisors. In order to resist to sophisticated remote attacks, the last two need to be formally proven so as to be as close as possible to zero-bugs. This is what we have done at Prove & Run with ProvenCore, a formally proven secure OS and ProvenVisor a next generation secure hypervisor. In most cases using of single instance of ProvenCore on a given connected object will be sufficient to protect against hackers with multi-million dollar budgets.

Swan

Series B in 2023
Swan is a Paris-based fintech company founded in 2019 that specializes in embedded finance through its Banking-as-a-Service platform. It enables businesses to create and manage bank accounts, issue cards, and generate IBANs seamlessly using straightforward APIs. Serving more than 60 clients across ten European countries, Swan handles over 200 million euros in transactions monthly. The company is staffed by over 100 employees, led by experts in the fintech sector. As a licensed financial institution regulated by the ACPR, Swan operates as a principal member of Mastercard, positioning itself as a key player in the European financial technology landscape.

Sonaide

Pre Seed Round in 2023
Give smart ears to product. Saas B2B of an embedded AI to detect distress sounds (applied first to telecare companies).

Exotrail

Series B in 2023
Exotrail, established in 2015 and based in Palaiseau, France, specializes in developing electric propulsion systems and flight software for small satellites and constellations. The company's key products are ExoMS, a propulsion system enabling small satellite constellations to access new orbits, and ExoOPS, a cloud-based software for mission operation planning. Exotrail's electric thrusters cater to nano and micro-satellites, serving applications in telecommunication, earth observation, and space science.

StatInf

Seed Round in 2022
StatInf is a technology company specializing in statistical timing analysis tools for embedded system designers. They optimize hardware resources and ensure autonomous behavior on multicore processors, serving industries such as aerospace, automotive, and autonomous vehicles.

Primo1D

Venture Round in 2021
Primo1D, established in 2013 and based at MINATEC Campus in Grenoble, France, specializes in embedding intelligence into objects and materials using its proprietary E-Thread® yarn technology. This yarn contains electronics that enable companies to trace and monitor their products for anti-theft and anti-counterfeiting purposes, thereby enhancing product value.

Core for Tech

Venture Round in 2021
Core for Tech is a deep tech company focused on driving safety through measurement and prediction of drowsiness based on heart rate variability. The company develops technology that analyzes HRV to identify fatigue and predicts the driver's upcoming sleepiness level, enabling proactive safety decisions. Its solutions can be deployed via native vehicle sensors or retrofit systems, converting physiological data into actionable insights to reduce drowsiness-related risk on the road. By detecting drowsiness at an early stage before it becomes visible, Core for Tech aims to enhance on-road safety and support preventative driving interventions.

Swan

Series A in 2021
Swan is a Paris-based fintech company founded in 2019 that specializes in embedded finance through its Banking-as-a-Service platform. It enables businesses to create and manage bank accounts, issue cards, and generate IBANs seamlessly using straightforward APIs. Serving more than 60 clients across ten European countries, Swan handles over 200 million euros in transactions monthly. The company is staffed by over 100 employees, led by experts in the fintech sector. As a licensed financial institution regulated by the ACPR, Swan operates as a principal member of Mastercard, positioning itself as a key player in the European financial technology landscape.

Luos

Grant in 2021
Luos develops open-source software that streamlines hardware development by making it as flexible as software. Their platform connects all components of electronic devices into a single system image, simplifying driver creation and application deployment for developers.

Luos

Seed Round in 2021
Luos develops open-source software that streamlines hardware development by making it as flexible as software. Their platform connects all components of electronic devices into a single system image, simplifying driver creation and application deployment for developers.

Luos

Grant in 2021
Luos develops open-source software that streamlines hardware development by making it as flexible as software. Their platform connects all components of electronic devices into a single system image, simplifying driver creation and application deployment for developers.

Swan

Seed Round in 2020
Swan is a Paris-based fintech company founded in 2019 that specializes in embedded finance through its Banking-as-a-Service platform. It enables businesses to create and manage bank accounts, issue cards, and generate IBANs seamlessly using straightforward APIs. Serving more than 60 clients across ten European countries, Swan handles over 200 million euros in transactions monthly. The company is staffed by over 100 employees, led by experts in the fintech sector. As a licensed financial institution regulated by the ACPR, Swan operates as a principal member of Mastercard, positioning itself as a key player in the European financial technology landscape.

Exotrail

Series A in 2020
Exotrail, established in 2015 and based in Palaiseau, France, specializes in developing electric propulsion systems and flight software for small satellites and constellations. The company's key products are ExoMS, a propulsion system enabling small satellite constellations to access new orbits, and ExoOPS, a cloud-based software for mission operation planning. Exotrail's electric thrusters cater to nano and micro-satellites, serving applications in telecommunication, earth observation, and space science.

Syntony GNSS

Venture Round in 2019
Syntony GNSS is a technology company that builds software‑based solutions for global navigation satellite systems. Drawing on 15 years of research and collaboration with industrial partners, it specializes in creating high‑precision simulators, recorders, and players that run on software‑defined radio platforms. The company’s modular, upgradable architecture offers flexibility and cost‑effectiveness for clients in aeronautics, space, defense, and autonomous vehicle sectors. Its products enable precise location tracking of satellites, aircraft, launch vehicles, and ground vehicles, and support emergency call location services. Syntony’s focus on adaptable, software‑centric GNSS technology positions it as a key provider for evolving navigation requirements across multiple industries.

Cartesiam

Venture Round in 2018
Cartesiam develops artificial intelligence software for microcontrollers, enabling objects to become smart, intuitive, and self-contained. Founded in 2016, the company is based in Toulon, France.

Exotrail

Seed Round in 2018
Exotrail, established in 2015 and based in Palaiseau, France, specializes in developing electric propulsion systems and flight software for small satellites and constellations. The company's key products are ExoMS, a propulsion system enabling small satellite constellations to access new orbits, and ExoOPS, a cloud-based software for mission operation planning. Exotrail's electric thrusters cater to nano and micro-satellites, serving applications in telecommunication, earth observation, and space science.

Core for Tech

Venture Round in 2018
Core for Tech is a deep tech company focused on driving safety through measurement and prediction of drowsiness based on heart rate variability. The company develops technology that analyzes HRV to identify fatigue and predicts the driver's upcoming sleepiness level, enabling proactive safety decisions. Its solutions can be deployed via native vehicle sensors or retrofit systems, converting physiological data into actionable insights to reduce drowsiness-related risk on the road. By detecting drowsiness at an early stage before it becomes visible, Core for Tech aims to enhance on-road safety and support preventative driving interventions.

Core for Tech

Seed Round in 2018
Core for Tech is a deep tech company focused on driving safety through measurement and prediction of drowsiness based on heart rate variability. The company develops technology that analyzes HRV to identify fatigue and predicts the driver's upcoming sleepiness level, enabling proactive safety decisions. Its solutions can be deployed via native vehicle sensors or retrofit systems, converting physiological data into actionable insights to reduce drowsiness-related risk on the road. By detecting drowsiness at an early stage before it becomes visible, Core for Tech aims to enhance on-road safety and support preventative driving interventions.

Snips

Series A in 2017
Snips is an artificial intelligence voice platform that runs on the edge and processes voice data locally, enabling private-by-design conversations for products and devices. Its embedded voice AI offers offline, cloud-free operation with enterprise-grade performance and cloud-level accuracy across various hardware, allowing developers and businesses to build custom voice commands, natural language interfaces, and dialog flows. The platform includes on-device automatic speech recognition, hotword detection, natural language understanding, and dialog management to derive context from location, calendars, emails, and contacts. Snips operates in Paris, New York, and Tokyo, and focuses on privacy and low-power footprints to simplify interactions with connected devices.

Delfmems

Series C in 2014
Delfmems SAS is a French company that specializes in the development, manufacturing, and licensing of radio-frequency micro-electro-mechanical systems (RF MEMS) switching technology. Established in 2005 and headquartered in Villeneuve d'Ascq, Delfmems produces stand-alone single pole double throw RF switches designed for various applications, including automatic test equipment, instrumentation, telecommunications infrastructure, military, and space sectors. The company's technology also enables the creation of digital and variable capacitors. Delfmems focuses on enhancing connectivity and meeting the growing data demands of next-generation 4G and 5G devices by offering low voltage RF MEMS solutions that provide high performance and efficient hot switching operations.

Delfmems

Series B in 2013
Delfmems SAS is a French company that specializes in the development, manufacturing, and licensing of radio-frequency micro-electro-mechanical systems (RF MEMS) switching technology. Established in 2005 and headquartered in Villeneuve d'Ascq, Delfmems produces stand-alone single pole double throw RF switches designed for various applications, including automatic test equipment, instrumentation, telecommunications infrastructure, military, and space sectors. The company's technology also enables the creation of digital and variable capacitors. Delfmems focuses on enhancing connectivity and meeting the growing data demands of next-generation 4G and 5G devices by offering low voltage RF MEMS solutions that provide high performance and efficient hot switching operations.

Cortus

Private Equity Round in 2011
Cortus is an ASIC and system-on-chip design company that specializes in providing tailored intelligent processing solutions. As a founding platinum member of the RISC-V Foundation, Cortus offers a diverse range of in-house intellectual properties, including both proprietary and RISC-V instruction set architecture processors, analog circuits, interconnect IP, coherent caches, and system-level components. The company also develops comprehensive software solutions, such as compilers, real-time operating systems, and embedded software, enabling seamless integration of hardware and software for its clients. Cortus has created complete system-on-chip solutions for various applications, including a notable IoT platform that features a medium-range RF transceiver, a powerful microcontroller, and hardware-based AES encryption, all designed for energy efficiency and extended battery life. With over 6 billion devices utilizing its IPs, Cortus delivers significant competitive advantages across multiple sectors, including automotive, banking, and space applications.
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