La French Tech — 2026-11-10

French Tech Funding Wire

Calogena — €40 Million EU Grant

• What they do: A French startup developing small modular reactors (SMRs) designed to supply low-carbon heat to district heating networks.
• Round details: Secured €40 million in the form of a grant from the European Commission.
• Use of funds / why it matters: The grant will support the construction of its first commercial nuclear reactor, marking a significant step for deep tech and energy infrastructure startups in France.

Gallium Defense — €7.1 Million (Recent Context)

Note: While the primary funding news for this specific entity was reported slightly earlier in the week (Nov 6), it remains part of the current 48-hour ecosystem narrative regarding defense tech.

• What they do: Develops affordable 3D radar systems designed to detect and track drones to protect critical infrastructure and armed forces.
• Round details: Raised €7.1 million.
• Use of funds / why it matters: This funding supports the deployment of defensive tech solutions amid growing demand for drone detection capabilities in Europe.

Product & Launch Watch

UNIVITY & SWISSto12 — Sovereign Space 5G Partnership

• What launched: A strategic collaboration between Paris-based UNIVITY and Switzerland-based SWISSto12 to build sovereign 5G infrastructure in space.
• Why it matters: This partnership combines UNIVITY’s recent €27 million raise with SWISSto12’s HummingSat programme, aiming to create a resilient, non-ground-dependent communication network that enhances digital sovereignty for Europe.

Deals, Moves & Exits

• UNIVITY: Recently raised €27 million from Blast, Expansion, and the Deeptech 2030 fund managed by Bpifrance, positioning it as a key player in the new space infrastructure sector.
• SWISSto12: Secured €73 million in January and closed a €61 million Series C in July, providing the capital base for its joint venture with UNIVITY.

Ecosystem & Policy Pulse

• France-Ukraine Tech Program: The European Commission and Bpifrance have launched a €163 million program to support 30 tech partnerships between France and Ukraine under the Ukraine Investment Framework. This initiative aims to integrate Ukrainian tech talent and innovation into the broader European ecosystem.
• Bpifrance Deep Tech Strategy: Bpifrance Executive Director Isabelle Bébéar emphasized the need for Europe to assert its own model to win the deep tech race, highlighting backing for companies like Mistral AI and ICEYE amidst a widening funding gap with the US.

What to Watch Next

• French Tech Central Day 2026: Scheduled for November 19, this event is expected to feature key announcements regarding AI funding trends and new startup cohorts. Founders should prepare for potential networking opportunities with major institutional investors.
• Deep Tech Momentum: Following the Calogena grant and UNIVITY partnership, expect increased investor interest in hardware-heavy sectors like energy and space infrastructure, moving beyond traditional software SaaS.

Reader Action Items

• Founders: Explore the new €163 million France-Ukraine program if your team has cross-border ties or if you are looking for non-dilutive grants for deep tech hardware.
• Investors: Re-evaluate portfolio exposure to "sovereign tech" sectors (space, energy, defense) as EU policy increasingly favors these areas over pure consumer apps.
• Operators: Monitor the "Je choisis la French Tech" initiative, which is expanding across Europe and appointing ministry ambassadors, potentially opening new B2G sales channels.