Nestled in the foothills of the Alps, Grenoble has long been France’s deeptech secret weapon. But a series of massive fundraisings has turned the international spotlight on a city that French media has long called “France’s Silicon Valley”.
The most eye-catching deal was the €2bn in financing — including €850m in equity — raised in September by low-carbon battery startup Verkor to build a gigafactory for mass production in 2025. But beyond that, it’s been a big year for Grenoble startups: Aledia raised $120m for its microscreen tech; GreenWaves $20m for its fabless semiconductor; Quobly $19m for its quantum computing tech; and Renaissance Fusion raised $19m for nuclear fusion.
Grenoble ranks fourth (tied with Munich) for deeptech funding among European cities in 2023, behind Stockholm, Paris and London, according to Dealroom. The technological breadth of those startups speaks to the wide range of scientific expertise that can be found in a city where research and industry collaborate across its constellation of universities such as CEA-Leti and Université Grenoble Alpes, public-private innovation hubs like the MINATEC micro and nanotechnology innovation campus, and scientific talent.