Capital Raising, M&A, Crowdfunding… ESSEC Entrepreneurs Are on a Roll

Capital raisings of 1 billion or in 21 seconds, merging champions, over 60% growth...we take a look at some of the key operations by ESSEC entrepreneurs in recent months.

Capital Raising

Colonies opened its first co-living accommodation unit 3 years ago. At present, the start-up launched by François Roth (E12), Alexandre Martin (E12) and Amaury Courbon (E12) boasts 120 addresses in 11 French and 3 European cities, and has signed a historic €1 billion partnership with the investment fund Ares Management to welcome an additional 10,000 young workers. Find out more (in French).

Founded by Frédéric Court (E92), Felix Capital closed its fourth capital raising at the sum of $600 million, thus doubling its assets to reach $1.2 billion. The fund declared in a press statement: “We expect to back another 20–25 companies over the next couple of years, across Europe and selectively in North America. We are expanding our areas of interest, planning to grow our exposure to Web3, a new platform for creativity, community, and of course entrepreneurship. The urgency to live a more sustainable lifestyle will be an increasingly central theme.” Find out more (See also the ESSEC Alumni article on Felix Capital here).

Co-founded by Arnaud Delattre (E85), Starquest Capital has closed its first capital raising at €60 million for its new fund Starquest Protect, aimed at businesses devoted to fighting climate change, digital threats or the depletion of natural resources. Find out more (in French).

One year ago, Arnaud Le Rodallec (E17) announced the merger of his start-up Zoov with its competitor Smoove, in order to consolidate their offer of electric bicycle rental. The fledgling group, renamed Fifteen, has raised €40 million. The group’s aim is to become a European leader in sustainable mobility. Find out more (in French).

Co-founded by Tristan Maurel (E20), incubated by ESSEC Ventures and winner of the ESSEC Founders Day 2021 competition, Umiami has raised €26.5 million to industrialise its “vegetable meat”, which provides the same taste and nutritional qualities as animal meat, but emits significantly fewer greenhouse gases in its production process. The aim is to reach an annual production of 15,000 tonnes by 2023. Find out more (in French).

Co-founded by Arnaud Delubac (M20) with the support of ESSEC Ventures and 21st by CentraleSupélec, Greenly has raised €21 million in series A to boost its development with small-to-medium businesses in Europe and the USA. Greenly provides a software solution to help companies measure their carbon footprint and implement an action plan to reduce their environmental impact. Find out more (in French).

Ludovic de Gromard (E11) has raised €12 million for Chance, the augmented coaching solution devoted to career mobility. “We have already provided our support to 5,000 beneficiaries and, since 2022, we’ve registered a new subscriber every half hour.” The support provided by Chance is aimed in particular at overcoming one of the major hurdles to career progress, i.e., a lack of network. To this end, the manifesto #provoquonslachance, [“Let’s trigger opportunities”], an initiative launched simultaneously with the raising, has engaged 100 key figures in the movement for equal opportunities. Find out more (in French) (Learn also about the Chance - ESSEC Alumni partnership in French here).

Co-founded in South-East Asia by Thomas Miklavec (E04), POC Pharma has raised $10.3 million to boost its SaaS platform which optimises pharmacy supply chains in developing countries. The current aim is to expand to Africa. Find out more.

Julien Delpech (BBA 96) has raised €7 million in order to revamp medical training “à la carte” via his platform Invivox. Les Échos magazine describes his aim as: “To provide all healthcare professionals with in-person or distance training courses adapted to their needs, with innovative formats such as the creation of a ‘content factory’, which allows them to become active players in their training, with ongoing access via smartphone to interactive and short content between peers.” Find out more (in French).

Harold Guillemin (M19) has raised €5 million for FinX and its fully electric boat motor, the design of which was inspired by fish fins. “We adapted bio-inspired technology for medical pumps to nautical propulsion. Our electric motor is completely safe, quieter than its combustion equivalent and emits no greenhouse gases.” Find out more (See also the ESSEC Alumni article (in French) on FinX here).

Simon Ferniot (EXEC MBA 97) has raised €3.2 million for SeaFood Reboot which develops sustainable and healthy alternatives to fish, derived from micro-algae. “Our team will actively contribute to the necessary food transition and the preservation of the oceans, confident that innovation and well-conducted research will help design more sustainable and natural food alternatives, inventing exciting products that taste good, feel good, and do good!” Find out more.

Co-founded by Julien Chamussy (E98), Fluctuo has raised €1.6 million via SNCF’s capital risk fund to develop its solutions for the collection, processing and transfer of data for mobility rental services (bicycles, scooters, motorcycles and cars). Find out more (in French).

A former medical intern, Baptiste Roux (M06) has raised €1 million to develop MedGame, a training platform for medical students based on role play and clinical case simulations. Find out more (in French).

Mergers, Acquisitions & Transfers

Guillaume Luscan (E17) has sold his on-demand delivery service, Cajoo, for $93 million to Flink, a key player in this sector in Germany. The manager of the group commented: “Cajoo has done an amazing job in leading the quick commerce revolution in France and building a base of 400,000 loyal customers. We are happy to join forces to create the #1 player in quick commerce in France.” It is likely that this operation influenced Carrefour’s decision to invest between $60 million and $70 million in Flink at the same time. Find out more.

Co-founded by Marion Carrette (E96), OuiCar, the French specialist in private carpooling, has been acquired by the US leader of the sector, Turo. Le Figaro newspaper commented: “OuiCar will bring the 30,000 cars on its platform to Turo, which already boasts a fleet of 217,000 vehicles. This should enable economies of scale for the buyer, who has 2 million active users.” Find out more (in French).

Founded by Henri Bong (E07) and co-managed by Davy Lassagne (E96), the IoT forerunner UnaBiz has acquired the assets of Sigfox, a telecommunications operator which uses low-energy networks in 75 countries. The aim is to provide connectivity to a host of low-speed applications for the Smart City, such as meter reading, stock and equipment management, public utility and transport network monitoring, and more. Find out more (in French) (See also the ESSEC Alumni article on UnaBiz here)

Following the acquisition of Têtu and Opéra Magazine, Albin Serviant (E92) has bought Ideat and The Good Life, via his group I/O Média, which boasts a turnover of €20 million. According to Les Échos: “The idea behind this acquisition is similar to the previous ones; starting with a reader fan base for sleek, high-end magazines which are potentially economically viable in themselves, the aim is to develop diversifications, digital in particular, to counter the risks of the press industry, such as the sharp rise in paper prices at the moment.” Find out more (in French) (See also the ESSEC Alumni interview (in French) with Albin Serviant on the acquisition of Têtu here).

Launched by Pierre-Emmanuel Saint-Esprit (E16), the start-up Zack is adding a new dimension to its recycling solutions for used electronic goods by becoming the 27th subsidiary of the Manutan Group, the leader in anti-waste across 17 countries. “6 years of ups and downs, with aborted and successful attempts at business models. An incredible human adventure with the 60-plus outstanding people who have worked for our company. And now, the move to a Group with extraordinary values and the firm ambition of becoming a major B2B player in the circular economy.” Find out more (in French).

Thibault Levi Martin (E14) is pursuing the development of his start-up Partoo, specialised in web retailer listings, with the acquisition of Pulp, a click & collect solution for restaurant owners. “At present, we’re addressing problems of visibility and appeal, which are our value propositions. Thanks to this operation, we hope to gradually provide our customers with the possibility of receiving orders.” Find out more (in French) (See also the ESSEC Alumni article (in French) on Partoo here).

Co-founded by Cédric Baecher (E00) and Nicolas Dutreix (E00), Nomadéis is merging with Wavestone to become a leader in sustainable development consulting. According to Le Figaro: “With 20 years’ experience and more than 700 missions in over 70 countries, Nomadéis has become a reference player in energy, ecological and inclusive transition guidance for companies and public institutions.” Find out more (in French) (See also the ESSEC Alumni article (in French) on Nomadéis here)

Co-founded by Isabelle Teboul Cohen (E10) and Ariel Boukobza (M10), the property technology firm Myre has carried out its first external growth operation with the acquisition of Straight Edge Soft, a financial and report modelling software for professional property investors. “Myre provides the property market and property asset managers with a solution to manage financial, legal and operational data. Straight Edge Soft adds to our offer and will allow us to target a new market: property fund management.” Find out more (in French) (See also the ESSEC Alumni article (in French) on Myre  here).

Distinctions

Tanguy Thevenet (E94) has risen to 74th position on the Les Échos / Statista 2022 ranking of 500 French growth companies with Zen'Up, which registered an average annual growth rate of 62.4% between 2017 and 2020. “After years of effort, this ranking comes as a great reward in the life of Zen’Up, a David-like start-up in Goliath’s world of banking giants and established alternative brokers. Thank you to our 300+ customers for whom we have obtained more than €5 billion in loans!” Find out more (in French) (See also the ESSEC Alumni article in French on Zen’Up here).

David Benhaïm (E18) features in the 2022 European edition of Forbes’ prestigious 30 Under 30 ranking, an acknowledgement of the success of his platform Wethenew, the leading online retailer in sneakers. Find out more.

Crowdfunding Campaigns

Launched by Hugo Bazin (BBA 14), TicTacTrip is currently collecting funds via the Tudigo platform, which is open to small investors. The aim is to raise €2 billion and become the eco-responsible booking platform specialised in combined inter-urban transport. There are just a few days left to participate! Find out more (in French).

Mounir Laggoune (BBA 13) collected €2.1million in 21 minutes (!) via the Crowdcube platform for his online asset management tool, Finary. Find out more (in French).

Co-founded by Léa Egger (E23), the eco-responsible cosmetics brand Pardi has registered more than 2,750 pre-sales on Ulule for its rechargeable and re-usable mascara, made in France and Italy from natural and up-cycled components. Find out more (in French)

Co-founded by Emmanuel Ithurbide (M16), the herbal medicine brand OndoTerra has reached 150% of its Ulule target for its CBD oils, made from natural hemp leaf and flower extracts and grown on a family farm in the Basque Country. Find out more (See also the ESSEC Alumni article (in French) on OndoTerra here)

Launched by Noémie Afatsawo (BBA 20), the eco-responsible travel agency The Family Van, which organises group holidays with 100% electric camper vans around a sporting and cultural theme, reached its Ulule target two weeks before the closure of its campaign. Find out more (in French) (See also the ESSEC Alumni article (in French) on The Family Van here).

Jean-Emmanuel Pialoux (E05), the craft shoemaker better known as Le Bottier Toulousain, has rallied more than 100 contributors on Ulule for his Les Toulousaines sandals, which are environmentally-friendly (recycled material sourced in France, plant-based tanning with biodegradable residues and local manufacture) and inclusive (produced in collaboration with disabled workers). Find out more (in French) (See also the ESSEC Alumni interview (in French) with Jean-Emmanuel Pialoux here).

Created by Annabelle Verschaeve (E09), the brand Vert de Grès has reached 125% of its target on Ulule for its range of dishware made in Normandy from local natural materials. Find out more (in French).

Unclassifiable

Founded by Norman Kolton (IMHI 14), the Thai fast food chain Street Bangkok is opening a 1,200m² food laboratory in addition to a cookery school for his franchise. “A new model in which production and the dispatch kitchen are disconnected to improve omni-channel flows for the restaurants and future franchises of the network”, France Snacking explains. Find out more (in French) (See also the ESSEC Alumni article (in French) on Street Bangkok here).

Launched by Coline Burland (E11), the food brand B Corp Omie & Cie is creating a range of exclusive products with the renowned chef Thierry Marx. “We’re not looking to build an image partnership. Thierry Marx guides the teams in the composition and taste of products. He will also be suggesting simple recipes for affordable meals.” Find out more (in French).

Founded in Indonesia by Nathanael Faibis (E10), the e-health platform Alodokter is launching a tool for the remote diagnosis of respiratory diseases. “With only a smartphone and the sound of your cough, we are now able to diagnose several lung conditions such as asthma, chronic obstructive pulmonary disease (COPD), ARI, children’s croup, and bronchitis. All of this within a few seconds. The diagnoses are within an 87-97% accuracy range as high as traditional methods using CT scans or MRI. This sounds like science fiction but this is real and has already been approved by Australian TGA and Indonesia BPOM for clinical use.” Find out more.

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