In collaboration with the Sirius Economic Observatory team, the Studies and Data Department of the CCI Nice Côte d’Azur conducted an in-depth study on the evolution of fundraising over the past six years. This study provides a detailed overview of the dynamics of fundraising at the local, regional, and national levels.
Over the past six years, the region has experienced significant momentum, with a considerable number of companies raising funds. In the Alpes-Maritimes department, 94 companies carried out 120 funding rounds, totaling 583 million euros raised, with an average funding per round of 4.9 million euros. The years 2019, 2021, and 2022 were particularly dynamic, with a significant number of companies raising funds to support their growth and innovative projects.
However, during the year 2023, a declining trend has been observed, marked by a decrease in both the number of funding rounds and the amounts raised. Despite this decline, certain sectors, such as science and technology, computing, and artificial intelligence, continue to thrive. Moreover, the Sophia Antipolis ecosystem stands out, concentrating more than half of the amounts raised over the period, totaling nearly 300 million euros.
From the regional and national perspective
In 2022, the fundraising sector in France reached a record high of 13.6 billion euros, but in 2023, this figure dropped to 9 billion euros, with average funding sizes down by 36%. This decline is part of the French Tech context, which is facing new economic, societal, and climate challenges after ten years of growth. Mega funding rounds have particularly suffered, reflecting a trend towards more cautious investments in anticipation of an economic contraction.
Conversely, within the Provence Alpes-Côte d’Azur Region, there has been a good progression. Ranked in third position in terms of volumes raised with 375 million euros and in fourth position in the number of transactions (+41% compared to 2022), the region continues to position itself as a major player in the fundraising landscape in France.
