For the first time, Paris recorded a higher enterprise value from startups than the UK capital, new research from global intelligence platform Dealroom reveals.
In 2024, French tech companies raised $7.8bn, spearheaded by the rise of AI, including successful raises from AI firms including Mistral AI, Poolside and Electra.
Collectively this was less than London’s $11.3bn – which was driven by large rounds such as Wayve and Monzo – but Paris’ continued growth puts it ahead of the UK capital.
Between 2017 and 2024, the combined enterprise value of Paris startups grew 5.3x, compared to 4.2x for London.
According to the data, there were 344 rounds of more than $1m raised in Paris, with the French government’s pro-innovation policies credited with fostering an ecosystem for entrepreneurs to raise capital.
Yoram Wijngaarde, founder and chief executive of Dealroom.co, said: “Ecosystems matter. Innovation doesn’t happen in a vacuum, as we’ve seen with the rise and rise of Silicon Valley and the Bay Area and the explosion in tech across Europe.
“What these important tech hubs have in common is access to investment, talent, top-tier universities, patents and partners that are working every day to make success happen.”
The Global Tech Ecosystem Index study benchmarked 288 cities in 69 countries, to reveal the most mature and fastest-growing technology hubs in the world.
Dealroom assessed dozens of metrics that contribute to a successful tech ecosystem, including: venture capital, startup value creation, growth, patent concentration, university spinout activity, in an open-book analysis and methodology.
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