The Venture Codex

Led · Equity · Jul 2026

Founded in 2007 by Nicolas Pfennig and headquartered in Lyon, Azergo delivers ergonomic assessments, individualized workstation adaptations and prevention services using ergonomists, occupational therapists and biomechanics specialists. Its solutions include adapted seating, adjustable desks, specialized input devices, handling devices, acoustic equipment and bespoke workplace fittings combined with training and organizational recommendations. The group has grown through both organic expansion and six acquisitions since 2021, reaching more than 200 employees and generating nearly €56 million of group revenue in 2025 after an average annual growth close to 20% over the past three years. Management has transitioned with Vincent Rigoudy becoming chairman while founder Nicolas Pfennig remains involved to support the next phase. Azergo plans to continue a build-up strategy to fill regional coverage gaps, add complementary expertise and explore European opportunities. The company emphasizes maintaining service quality and local relationships while standardizing back-office functions and scaling its offer.

Participated · Equity · Feb 2026

Founded in 2020 by ENT physician Dr. Laurent Bonnardot and industrial entrepreneur Benjamin Crevant, France-based MyC offers a software platform that digitises occupational health and first-line medical care for complex worksites such as energy, maritime, defence and other high-risk sectors. The system centralises medical records, automates processes like pharmaceutical and specialist consultation management, and generates regulatory reporting, all while maintaining strong data security and international compliance standards. Designed to function even with limited connectivity, the SaaS solution enables rapid, large-scale deployment across geographically dispersed sites. By replacing fragmented, site-specific tools, MyC gives large enterprises a single, actionable view of workforce health data. The company aims to provide tangible operational value to essential industries through improved efficiency and compliance. With fresh capital, MyC intends to enhance its product roadmap and expand its sales and marketing teams to accelerate international enterprise adoption. No revenue or user figures were disclosed in the article.

Participated · Series C · Nov 2023

Indy is an all-in-one accounting platform for freelancers based in Lyon, France. Its core feature is automated accounting and it offers services for company creation, tax preparation, invoicing, and quotes. The company plans to add business banking to its product suite. Founded in 2016 by Côme Fouques, Pablo Larvor, Romain Koenig, and Adrien Plat, Indy aims to simplify freelancers' daily administrative tasks. The platform's recent fundraising will support expanding its offerings and growing its market reach. Indy's stated mission is to support independents by providing a simple application adapted to their needs. Indy (ex-Georges.tech) provides accounting software that automates data collection, processing, and submission to tax authorities for self-employed professionals and small teams. Its product includes a live chat support feature with responses in about a minute. The company charges an annual subscription of €240 and currently serves roughly 40,000 clients. Indy was founded in 2016 and positions itself as an alternative to traditional accounting firms through continuous investment in automation. The startup plans to expand to the US after a year of product development and adaptation, targeting American independents (around 24 million) as a key market. Indy aims to support over 6 million self-employed professionals in the long term and to grow its Lyon-based team.

Participated · Series B · Feb 2023

Exotrail develops electric propulsion systems and related products to enhance small-satellite mobility, deployment and on-orbit performance. The company intends to expand its product range to improve satellite mobility and help reduce space pollution. Exotrail raised $58 million in a Series B to fund those efforts. CEO and co-founder Jean-Luc Maria said the company will accelerate positioning its mobility hub as the world reference for moving assets in space and to be the preferred partner for space companies. The business is part of a broader uptick in European spacetech funding and drew broad participation from public and private French investors. Exotrail develops electric propulsion systems and spacecraft flight software for smallsats, including the ExoOPS mission‑design software released in March. The company targets satellites from 10 to 250 kilograms and has demonstration propulsion systems awaiting and scheduled for multiple launches. Exotrail plans to expand manufacturing from roughly 10 units a year to about 100 by 2022–2023 and increase headcount from 27 to 50. It aims to release a spacecraft operations software program and to develop an in-space transportation vehicle called Space Van, targeting a 2024 demonstration and envisioned evolution into a satellite servicer by 2025. Exotrail began generating revenue in the current year, a milestone that helped attract investors. The company operates from Massy and Toulouse, France. Exotrail develops proprietary electric thruster technology and plug-in operational software for small satellites. The company is developing two propulsion systems: ExoMG–nano for 10–20kg satellites and ExoMG-micro for satellites up to 100kg. It targets integrators and constellation operators and has founding clients who have committed interest in its propulsion systems. Exotrail raised $4.1M (€3.5M) in a round completed via a public financing offer to support prototype demonstration and product finalization. Planned uses include demonstrating the prototype thruster in space, finalizing product and service offerings, delivering first functional systems to founding clients, and accelerating design of mission-optimization software. The company was founded in 2015 and planned to expand its team from six people to more than sixteen by the end of the calendar year.

Participated · Series A · Nov 2021

365Talents builds an AI-driven skills intelligence platform that detects, assesses and harnesses employees’ skills in real time and in any language. The platform automatically matches talents to missions, jobs or training opportunities to help HR teams manage careers. The company serves clients across the Benelux, United States and Asia-Pacific. Founded by Loïc Michel, Mathieu Martin and Paul Mougel and based in Lyon, France, 365Talents emphasizes skills discovery and internal mobility. The company intends to expand internationally, with a particular focus on northern Europe, and to continue developing its skills and career-management AI technology. The recent financing will support that international expansion and product development.