🌍Newsletter - November 2024
Welcome to the 12th edition of the AFI Ventures’ newsletter.
As a reminder, AFI Ventures (fund managed by Ventech) is an impact VC fund that invests in pre-seed/seed startups with a strong environmental and social ambition, producing a systemic change. We invest once a month in France & Europe tickets ranging from €250K to €500K.
Each month in this newsletter, you'll find a summary of 2 articles on the impact ecosystem that have caught our attention, fundraisings realised by impact start-ups in France, and news from our portfolio. 💚
👀 What Caught our eye
French Tech Solar
By Camille Wong
French startups are taking on a big challenge: making solar energy more accessible. A new entrepreneurial network, Suntech, is emerging in Paris, connecting players, including startups, investors, corporates, and unions, all focused on advancing the solar sector. These companies, many led by entrepreneurs under 30, are driving digital innovation and affordable solar solutions to speed up the transition to renewable energy.
Why Now?
Energy Crisis: The rising electricity costs, exacerbated by the war in Ukraine, have increased the demand for renewable energy solutions.
Changing Market Needs: Startups are meeting the surging interest in both residential and industrial solar projects, offering tech-based solutions like Solteo's energy management software (SaaS) to optimize installations.
Key Challenges and Opportunities
Streamlining Regulations: Young companies are pushing for simpler, more flexible administrative processes to make solar adoption easier.
Lowering Costs: Advocacy for reduced VAT on solar products is underway to make renewable energy more affordable.
Addressing Skill Gaps: Training programs by companies like Kolverr and La Solive aim to equip the workforce for the expanding green economy.
Storing Solar Energy: Deep tech solutions are also crucial to the growth of solar energy in France, ensuring that the energy produced can be used throughout the day. For instance, AFI recently invested in Moonwatt to address this need.
Startups to watch
Enrise: Specializing in solar self-consumption solutions for businesses, the company recently secured a major contract to equip over a hundred sites for one of the leading automotive service providers.
Rosi Solar: Leading innovations in solar panel recycling, contributing to the circular economy.
While these startups represent just a small portion of the broader energy landscape, they are already reshaping France's solar sector. With technology as their core strategy, they are proving that a swift, impactful transition to a sustainable future is within reach.
Know any promising entrepreneurs in this space? We'd love to connect! Reach out and share their projects.
The role of businesses in advancing urban biodiversity
by Maddyness
In densely populated cities, supporting biodiversity is no longer optional. Whether through green facades, rooftop gardens, or ground-level spaces, every business can contribute meaningfully to a more sustainable urban ecosystem.
Biodiversity: A Strategic and Differentiating Asset
Over recent years, biodiversity has become a crucial standard for companies. Certifications such as Eco-Jardin and Biodiversity, alongside local regulations, are reinforcing this trend, especially in eco-committed cities like Paris and Lyon. For startups, adopting these values is a way to stand out and meet investor and employee expectations.
Greening Workspaces: Well-Being
Greening offices not only enhances aesthetics but also improves employees' well-being by reintroducing nature into their daily environment. According to aKagreen, this approach includes both interior and exterior spaces, fostering a true reconnection with nature.
Strategic Choices for Lasting Ecological Impact
Green roofs, vertical gardens, or ground-level spaces: each solution has a unique role. Although green roofs are popular, ground-level gardens remain the most eco-friendly option with a stronger carbon footprint and more direct support for biodiversity.
Engage Your Company for a Sustainable Future
Beyond green installations, offering biodiversity workshops enriches team experience and strengthens their commitment. Biodiversity in business is not only an ecological initiative but an investment.
By integrating nature into daily operations, companies are helping redesign cities to be more resilient.
🍃 AFI Ventures - Main Highlights
AFI Ventures’ Public Investments in October
Highcast 🇫🇷 - (2M€ / CS Ventures, AFI Ventures, VIF, Super Capital) Electricity consumption optimization software for factories.
Investment rationale:
Experienced team: Vivien (CEO) and Flore (CTO) bring expertise from Spendesk and Artefact, backed by industry leaders like Vincent Bryant (Deepki CEO).
Early traction: Several audits launched in 10 months and a robust sales pipeline.
Large market opportunity: €7.8Bn addressable market in Europe, fueled by growing industrial electricity needs and €2Bn in regulatory green funding.
Recent News from our portfolio
Prolong has been selected for the Cegid Startup Program (formerly Cegid Data Lab) - link
Alpagga begins a new commercial partnership with Unox France - link
CarbonX releases a new paper, “Demystifying Biomass CDR: A Roadmap for Sustainable Biomass Sourcing”- link
Captain cause rebrands to Dift, named after its flagship product - link
💰 Early-stage impact rounds in France
Autone (25.7M€ / General Catalyst, Speedinvest, Y Combinator, Seedcamp, 2100 Ventures, Motier Ventures, Financière Saint James) Platform for apparel inventory management.
La vie (25.0M€ / Zintinus, Sparkfood, business angels, Seventure Partners, Oyster Bay Venture Capital, Capagro, Partech, Entrepreneur First, Bleu Capital) Producer of plant-based meat alternatives.
Otoqi (8.5M€ / Seventure Partners, Aster Capital, Verve Ventures, CDP Venture Capital SGR, Swiss Post Ventures) Platform for vehicle transport and fleet management.
Granular Energy (7.5M€ / Norrsken VC, All Iron Ventures, Box Group, Valo Ventures) Enables transparency on green energy sourcing and associated carbon emissions.
Revyze (5.5M€ / Speedinvest, Moonfire Venture, Motier Ventures, Station F, business angels) App offering short-format revision videos.
Aerleum (5.5M€ / 360 Capital, HTGF, Norrsken VC, All Iron Ventures, Bpifrance, Marble) Produces sustainable alternatives to fossil-based products at scale.
Storio Energy (5.0M€ / Lowercarbon Capital, Kima Ventures, Bpifrance Digital Venture) Installs and operates batteries for professional use.
GreenGo (2.5M€ / Climate Leaders Fast-Track, 4 Ventures, Inco Ventures) Eco-friendly accommodation booking platform.
Idealys (2.5M€ / BAs) Global connected building operator.
NRJx (2M€ / Bpifrance, Ring Capital, business angels) Energy consumption management platform for factories.
Highcast (2M€ / CentraleSupelec, AFI Ventures, VIF, Super Capital, BAs) Electricity consumption optimization software for factories.
Kob (1.6M€ / SUEZ EAU, CIRIMAT) Reimagines water filtration solutions.
Linkbycar (1.4M€ / Ethias Ventures, Leansquare, business angels) Platform for connected vehicle services.
Ramdam Social (1.3M€ / Asterion Ventures) Generates a donation for those in need with grocery purchase.
VelyVelo (1M€ / Beltone Venture Capital) Platform for managing and renting e-bike fleets.
Auxo (3M€ / HUB612 Participations, business angels) ESG strategy management tool.
Sepia Infrastructure (NA / Ankaa Ventures, ENGIE New Ventures) Next-gen industrial parks with advanced environmental standards.
🤝 Our Team
Charles Fourault - charles@afi.ventures
Mamadou Dembele - mamadou@afi.ventures
Constantin de Chaudenay - constantin@afi.ventures
Juliette Lelievre - juliette@afi.ventures
Don't hesitate to reach out if you're an impact entrepreneur or just interested in any of these topics. 🍃