France now counts 30 unicorns with a combined valuation of roughly €74 billion, making it one of the most diversified startup ecosystems in Europe. But the pipeline behind them may be even more impressive. Across quantum computing, renewable energy, semiconductors, electric mobility, and AI, a cohort of French startups is approaching the billion-euro threshold with momentum that suggests several will cross it this year.
Alice & Bob — Quantum Computing
Spun out of the CNRS and the École Normale Supérieure, Alice & Bob is developing quantum processors based on a proprietary technology called "cat qubits," which have built-in error-correction capabilities. The company's approach has been validated by Amazon, which has adopted the technology. After raising €100 million in Series B funding, Alice & Bob aims to build the world's first error-corrected quantum computer by 2030. It represents France's strongest play in the global quantum race.
SiPearl — European Semiconductors
SiPearl is designing the processor for Europe's exascale supercomputers under the European Processor Initiative. The company completed the largest Series A in European fabless semiconductor history at €130 million, backed by the European Innovation Council, France 2030, and Taiwanese firm Cathay Venture. Its Rhea1 chip is entering industrialisation, and a Series B is expected this year.
WAAT — Smart EV Charging
As Europe's electric vehicle transition accelerates, WAAT secured €100 million from Deutsche Bank's DWS and Bpifrance to deploy smart charging infrastructure across residential and commercial sites in France and beyond. The company is positioned at the intersection of clean energy, real estate, and mobility — three sectors converging rapidly.
Waga Energy — Renewable Natural Gas
Waga Energy converts landfill methane into grid-quality renewable natural gas using its proprietary Wagabox technology. With a $180 million senior debt facility from Crédit Agricole and HSBC, the company is expanding aggressively into the US market, where it has signed 13 landfill agreements. It is one of France's most compelling climate-tech stories.
Lucis — Preventive Healthcare
Backed by General Catalyst and Y Combinator, Lucis offers AI-supported health check-ups based on over 180 biomarkers, providing actionable insights on nutrition, sleep, recovery, and mental health. The Paris-based startup closed a €7.2 million seed round and has already conducted more than 500,000 clinical tests across France, the UK, Ireland, and Portugal.
C12 — Carbon Nanotube Quantum Computing
Another quantum contender, C12 builds processors using spin qubits embedded in carbon nanotubes on semiconductor chips. The company received €13.9 million through the France 2030 programme and represents a second, complementary French approach to quantum computing — increasing the odds that at least one will break through.
The Others to Watch
The remaining soonicorns span diverse sectors: Agreenculture (autonomous agricultural robots), Arcads.ai (AI-generated video for advertising), Drama Studios (next-generation gaming, backed by Tencent), and Dracula Technologies (battery-free IoT powered by ambient light). Each has secured significant funding and occupies a market position where growth could accelerate rapidly.
What's Different About This Generation
Previous French startup waves were dominated by consumer internet and marketplace platforms. This generation is deep tech-heavy, capital-intensive, and globally oriented from day one. The support of Bpifrance as a cornerstone investor, combined with the France 2030 programme's targeted funding, has created a pipeline that international VCs are increasingly eager to co-invest in. AI, climate-tech, and quantum are expected to drive the next wave — and France is positioned at the centre of all three.