Bpifrance extends Series A funding to help Powder pursue its growth!
We want to share some amazing news! We’re thrilled to announce that Bpifrance has added $1.8m of additional financing to further our Series A, increasing our total funding amount for the round to $15m! We couldn’t be more excited and grateful for Bpifrance’s continuous support.
Bpifrance is a public investment bank renowned for its central role in the economic development of the French ecosystem. They provide financial support to tech startups and other innovative enterprises in the form of equity investments, loans, grants, counter-guarantees and others. They’ve supported French unicorns like Contentsquare, ManoMano, and Vestiaire Collective in their early days, so we have big shoes to fill!
In the past, we have benefited from an R&D loan specific to technological components of our app such as the editor and AI highlights detection models. We feel particularly honoured for the latest contribution to our Series A round, which without a doubt will be instrumental to our growth.
In the words of Manon Vergne, chargée d’affaires innovation at Bpifrance:
“We truly believe in this project: it is innovative, has an impressive user base and the team is composed of strong and complementary profiles — which, in the case of startups, is as important as the product itself.”
We’re also excited because, along with the funding, Bpifrance is welcoming us into a deeper commitment, including access to invaluable training and advice designed for entrepreneurs. Not to mention, their accelerator programs are some of the French ecosystem’s best.
One of these programs, l’Accélérateur Jeux Vidéo, is tailored specifically to gaming startups, which testifies to France’s soaring volume of projects in this creative field, as well as to Bpifrance’s commitment to support innovation for the metaverse.
Bpifrance is a remarkable one-stop shop for entrepreneurs, whose involvement and contributions can make a real difference to the commercial success of a project, be it lucrative or social in nature. We are very fortunate to count them among our trusted partners and look forward to learning further from their expertise!
Originally published at https://blog.powder.gg on October 12, 2021.
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Interview for Bpifrance with our CEO, Stanislas Coppin here.
To learn more about Powder, check out our website.
