French Tech 2025: Top 120 Startups Driving Innovation and Performance!

On Wednesday, June 4, 2025, French Tech announced the 2025 intake for the French Tech Next40/120 program. Established in 2019, this initiative aims to support the “120 most successful French scaleups” over the course of a year to help them become “world-class technology leaders,” according to a statement from the French Tech Mission. Selection of the winners is based on objective criteria such as revenue and fundraising amounts. For reference, a startup needed to generate at least 100 million euros in revenue to enter the French Tech Next40, and at least 20 million euros to be considered for the French Tech 120.

Key Figures for French Tech Next 40/120 in 2025

In 2025, eleven scaleups that were part of the original 2019 cohort of French Tech Next40, such as Back Market and Blablacar, have been included again, primarily due to their “significant fundraising efforts,” as noted by the French Tech Mission. Demonstrating their growth, these companies were chosen this year “based on their revenue,” with ten of them generating over 100 million euros in the last fiscal year.

These 11 historic leaders of the French Tech Next40 have now gained substantial recognition both in France and internationally. Together, they account for 2.8 billion euros in annual revenues and support 10,970 jobs globally.

Here are five important figures to remember about the 2025 cohort:

1. The combined revenue of the French Tech Next 40/120 companies reached 10 billion euros in 2024,
2. 44% of the 2025 cohort members (excluding DeepTech) are profitable,
3. The 120 startups have created 42,000 jobs worldwide, 29,000 of which are in France,
4. 93% of the winners have international operations,
5. GreenTech is the most represented sector, with 29 companies making the list.

11 Companies Join the Next40

In 2025, the French Tech 120 welcomes 46 new entries. Like last year, 11 companies have advanced to the Next40 group, joining well-established scaleups such as French AI champion Mistral AI, PayFit, and Swile:

• Agryco
• Alice&Bob
• Brevo
• ClubFunding
• Descartes Underwriting
• Flying Whales
• Gojob
• Homa
• LeHibou
• Worldia
• Zeplug

DeepTech: A Rapidly Growing Sector in France

There are 19 newcomers in the DeepTech sector, which now accounts for a quarter of the 120 selected companies. This growth is logical, according to the French Tech Mission, since “the French DeepTech ecosystem has become the leader in the European Union in terms of fundraising volume and ranks fourth globally, behind the USA, China, and the UK,” highlighting “France’s position among the global leaders in cutting-edge innovation challenges.” Among the notable new entrants in the Next40 and the French Tech 120 are startups like Alice & Bob, which specializes in quantum computing, and H Company, known for its AI models.

I particularly want to highlight the remarkable presence of DeepTech companies, which now make up a quarter of the French Tech Next40/120. Among these future champions, notable new entries include H (artificial intelligence), Alice&Bob (quantum), and Sekoia (cybersecurity), stated Clara Chappaz, Minister Delegate for Artificial Intelligence and Digital Affairs.