(Reuters) – French data collection company Castor said on Tuesday it had raised $23.5 million (22 million euros) in its latest funding round led by venture capital firm Blossom Capital.
This new fundraising, which should allow the group to continue to develop its customer base in the United States, comes as French President Emmanuel Macron seeks to make French technology companies a driving force helping Europe to impose itself in a sector largely dominated by the United States.
Castor, which says it has grown by 40% per month over the past 12 months, is rapidly expanding its customer base, among which are meal delivery platform Deliveroo, and luxury clothing site used Vestiaire Collective.
“Every business needs to be able to effectively use data to grow their business…We’re excited to have Blossom invest with us in our journey of data discovery and democratization,” said Castor’s CEO, Tristan Mayer, in a statement.
France recently recorded a series of major fundraisings driven by a favorable context of low interest rates and investment incentives, such as that of the specialist in financial management of companies Qonto, which raised 486 million euros last January.
This series A, which corresponds to a second funding round with investors, follows a raising of up to $2.6 million in November 2019, the company said.
(Report Diana Mandiá, edited by Kate Entringer)
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