BPI France et al. in €2m seed round for Nanocloud

The round features a €900,000 seed loan supplied by BPI France, in addition to €1.1m in seed capital injected by Siparex, Breega and Seed4Soft.

A breakdown of the latter component was not disclosed but Siparex deployed equity via its Proximité Innovation arm, which invests a minimum of €300,000.

Meanwhile, seed- and series-A-focused firm Breega recently announced its €40m first VC fund was nearing a final close. Launched in 2013, the vehicle writes €500,000-1m tickets and prioritises co-investments alongside fellow VCs, Siparex being one of the players Breega has worked with in the past.

The institutional round, the first seen by Nanocloud, will finance its expansion roadmap in France and abroad, with plans to expand to the US market. The startup will also look to double its current workforce to 20 employees within a year.

Company
Nanocloud was created in 2015 as a SaaS provider helping application owners adapt outdated software to the cloud environment. The business has so far secured clients such as data integration platform Talend and virtual prototyping specialist ESI. Headquartered in Paris, the company currently employs 10 professionals.

People
Siparex's work on the deal was led by Mathias Flattin and Gabrielle Thomas, respectively deputy director and project manager in the firm's Proximité Innovation team. Meanwhile, Breega was represented by managing partner Maximilien Bacot. Erfane Arwani, Cédric Carbone and Dominique Rodrigues co-founded Nanocloud and currently chair the company's board.

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