French VCs in €23.5m round for Withings

French state investment arm BPI France contributed €11m to the round. According to French daily Les Echos, it invested via a new €300-500m vehicle designed to provide large equity tickets to French late-stage venture businesses. The initiative is reportedly due to be formally announced in September.

Ventech had already provided Withings with a $3.8m funding round in 2010. The fresh funding will be used to back international expansion and support innovation, notably by strengthening Withings' in-house R&D teams.

This second fundraising round was intermediated by tech-focused corporate finance house Clipperton Finance.

Company
Founded in 2009, Withings is a developer of connected smart devices and applications, with a specific focus on well-being. Having initially offered wi-fi body scales, the company later expanded its offering with the Smart Blood Pressure Monitor and Smart Baby Monitor products.

People
Nicolas Dufourcq led the deal for BPI France. Idinvest was represented by Benoist Grossmann. Emanuele Levi worked on the deal for 360 Capital.

Advisers
Company – Clipperton Finance (Corporate finance).

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Expansion
• Technology
• France
• IDInvest Partners (AGF Private Equity)