About Daphni
Daphni is a venture capital firm founded in 2015. It is primarily based out of Paris, France. As of Oct 2026, Daphni is an active investor, having invested in 145 companies, with 18 new investments in the last 12 months. It primarily invests in Series A round in France based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Seed round of Reduck Overall, Daphni portfolio has seen 4 unicorns, 3 IPOs and 22 acquisitions including key companies like BlaBlaCar, Swile and New Relic. A lot of funds co-invest with Daphni, with names like Kima Ventures sharing a substantial percentage of its portfolio. Daphni has team of 33 people including 14 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 4 more
Portfolio Acquisitions
Portfolio Soonicorns
Daphni's List of Top Investments
Daphni has a portfolio of 145 companies, including 4 unicorns. Their most notable investments are in Margo Banks and cozycozy.com.Their portfolio spans across France, United States, United Kingdom and 10 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 33 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by Daphni:
1. BlaBlaCar
Network connecting individuals seeking or offering transportation via bus or carpool. It facilitates ride-sharing arrangements between passengers and drivers. The network provides a platform for finding suitable travel options. It offers a range of destinations and routes.
Key facts about BlaBlaCar
- Founded Year: 2006
- Location: Paris (France)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $565M
- Employee Count: 1,605 as on Sep 30, 2026
- Investors: BNP Paribas, Verrazzano Ventures and 29 Others
- Latest Funding Round: Conventional Debt, Apr 03, 2024, $*****
- Highlight: Editors' Pick
2. Swile
Provider of employee benefits and expense management via a smartcard. It offers solutions for managing employee meal vouchers, gift cards, and professional travel expenses. The company provides a mobile application for card management, budget tracking, and payment options. It also offers resources and tools for human resources and committee professionals.
Key facts about Swile
- Founded Year: 2016
- Location: Paris (France)
- Annual Revenue: €50M - €100M as on Dec 31, 2023
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $328M
- Employee Count: 757 as on Sep 30, 2026
- Investors: SoftBank Group, Kima Ventures and 11 Others
- Latest Funding Round: Series D, Oct 08, 2021, $*****
- Highlight: Editors' Pick
3. NG.CASH
Provider of digital accounts, prepaid cards, and payment processing services. The company offers digital accounts with options for customization. It facilitates money transfers and payments through its platform. The company also provides prepaid cards for online and physical purchases. It acts as a payment institution authorized by the central bank. The company partners with banking institutions to offer financial products.
Key facts about NG.CASH
- Founded Year: 2021
- Location: Rio de Janeiro (Brazil)
- Stage: Series B
- Total Funding till date: $65M
- Employee Count: 256 as on Sep 30, 2026
- Investors: Monashees, QuantumLight and 12 Others
- Latest Funding Round: Series B, Sep 23, 2026, $*****
- Highlight: Editors' Pick
4. New Relic
Cloud and AI based platform offering enterprise observability solutions. It offers features such as web application monitoring, ruby monitoring, web performance monitoring, PHP monitoring, infrastructure monitoring, Kubernetes monitoring, container monitoring, docker monitoring, and digital customer experience management. It enables user access to a subscription based pricing module.
Key facts about New Relic
- Founded Year: 2008
- Location: San Francisco (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $196M
- Employee Count: 3,095 as on Sep 30, 2026
- Investors: JANA Partners, Allen & Company and 18 Others
- Latest Funding Round: Post IPO, May 2018, $*****
- Highlight: Acquired
5. Adore Me
AdoreMe is a vertically integrated women's intimates brand that offers designer crafted, perfectly fitting women's intimates at significantly cheaper price points. Operates on a rapid manufacture-to-retail cycle in which the brand introduces a new 30-40 piece collection every month. Shipped its 100,000th order in 2012.
Key facts about Adore Me
- Founded Year: 2011
- Location: New York City (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $11.5M
- Employee Count: 378 as on Sep 30, 2026
- Investors: Blisce, #adm ventures and 13 Others
- Latest Funding Round: Series B, Jan 22, 2013, $*****
- Highlight: Acquired
Daphni's Year-on-Year Investment Trends
Daphni has invested in 145 companies over the last 10 years, with an average of 10 new investments annually in the last 10 years. In 2025, it made 27 investments, while as of Oct 2026, it has made 19 investments in this year. Its most recent first time investment was in Reduck and most recent follow-on round was in Epyr.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 17 | 2 | 19 |
2025 | 17 | 10 | 27 |
2024 | 13 | 1 | 14 |
2023 | 11 | 4 | 15 |
2022 | 6 | 5 | 11 |
2021 | 10 | 5 | 15 |
2020 | 2 | 0 | 2 |
2019 | 8 | 4 | 12 |
2018 | 6 | 6 | 12 |
2017 | 9 | 2 | 11 |
Daphni's Investments by Stage
Daphni has made 58 investments in Seed stage with an average round size of $30.5M, 36 investments in Series A stage with an average round size of $9.57M and 5 investments in Series B stage with an average round size of $43.3M.Stage of entry | No. of Investments |
|---|---|
Seed | 58 |
Series A | 36 |
Series B | 5 |
Conventional Debt | 2 |
Series C | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Daphni's Investments by Sector
Daphni has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Consumer, Retail and Sustainability Tech. Notably, it has invested in 119 Tech companies, 78 Enterprise (B2B) companies, 65 Software companies and at least 62 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 48 |
High Tech | 21 |
Consumer | 20 |
Retail | 16 |
Sustainability Tech | 15 |
Others | 123 |
Note: We have considered here, only first round of investments
Daphni's Investments by Geography
Daphni has made most investments in France (70), followed by United States where it has made 12 investments.Country | No. of Investments |
|---|---|
France | 70 |
United States | 12 |
United Kingdom | 7 |
Germany | 4 |
Sweden | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
Daphni's recent investments
Daphni has made 19 investments in 2026 so far. Reduck and Epyr are the latest among them.Here are the most recent investments by Daphni:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 22, 2026 | - | Seed | 2761 | [+1] | |
Oct 13, 2026 | France | Series A | 8077 | [+4] | |
Sep 16, 2026 | United Kingdom | Seed | 3072 | [+3] | |
2026 | France | Seed | 5155 | - | |
2026 | France | Seed | 4051 | - |
Unicorns in Daphni's Portfolio
Daphni has 4 unicorns in its portfolio - Ami Labs, Swile, Back Market and others. The most recent unicorn in their portfolio is Ami Labs. It became a unicorn in 2026.Here is a list of unicorns in Daphni's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
58 | Developer of action conditioned world models for autonomous agentic systems | 2026 | Paris | Seed | lqxioxj | ||
79 | Provider of employee benefits and expense management via a smartcard | 2016 | Paris | Series D | ksczgqh | ||
76 | Online marketplace for refurbished electronic products | 2014 | New York City | Series E | kfrkymd | ||
82 | Network connecting individuals seeking or offering transportation via bus or carpool | 2006 | Paris | Series E | {dujbsc |
IPOs and Publicly Listed companies in Daphni's Portfolio
3 of Daphni's portfolio companies have become public. PASQAL got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Aug 2026 and Numberly got listed on the Euronext Exchange (Euronext) at marketcap of $48.8M.Here are Daphni's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 28, 2026 | Jun 08, 2021 | Series A | 5855 | |
Feb 02, 2006 | - | - | 4158 | |
- | Jun 29, 2025 | Seed | 4360 |
Acquired companies in Daphni's Portfolio
22 companies from Daphni's portfolio have been acquired. The most recent acquisition was Ida in Dec 2025 by RELEX for $*****.Here are Daphni's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 18, 2025 | Nov 16, 2023 | Seed | 9574 | |
Sep 02, 2025 | Oct 06, 2017 | Seed | 1467 | |
Sep 11, 2024 | Apr 09, 2020 | Series A | 6996 | |
Jun 19, 2024 | Jul 11, 2017 | Seed | 5222 | |
Mar 07, 2024 | Sep 21, 2021 | Seed | 8083 |
Team profile of Daphni
Daphni has a team of 33 members including 14 Partners and 16 Principals located in France and United States. Daphni's team does not sit on the board of any company as of now.Here is a list of top team members in Daphni:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Paris | - | ||
Partner | - | - | - | |
Partner | France | - | - | |
Partner | France | - | ||
Partner | France | - | ||
Partner | France | - | - | |
Partner | France | - | ||
Partner | - | - | ||
Partner | France | - | ||
Partner | France | - | ||
Partner | Paris | - | - |
Co-investors of Daphni
Over the past 10 years, 470 investors have co-invested in Daphni's portfolio companies. This includes funds and angels.
- Invested before Daphni: Bpifrance, Kima Ventures and 120 others have invested in rounds before Daphni. There are 4 companies where Bpifrance has invested before Daphni and 4 companies where Kima Ventures has invested before Daphni.
- Top Co-investors of Daphni: 232 investors entered a company along with Daphni. These include investors like Kima Ventures (10 companies).
- Invested after Daphni: A total of 116 investors have invested in Daphni's portfolio after their investments. Top Investors include Bpifrance (4 companies), Eurazeo (4 companies) and Idinvest Partners (2 companies).
Recent News related to Daphni
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Quartz nets £2.75M pre-seed from Daphni to build AI wealth advisorTech Funding News•Sep 16, 2026•Quartz, Daphni
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Astral Systems Raises €26 Mn in Series A Round led by Mercia VenturesStartup Rise EU•Jun 23, 2026•Astral Systems, Mercia Ventures, Tees River, Speedinvest and 3 others
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Graph Therapeutics Raises $5 Million For Inflammation And Immunology ProgramsPulse 2.0•Jun 23, 2026•Graph Therapeutics, Merantix Capital, SquareOne, Daphni
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Rocapine Raises €11.2 Million Series A to Scale AI-Powered Wellness AppsEU-Startups•Jun 16, 2026•Educapital, Centre Court Capital., Athletico, Better Angle and 2 others
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Daphni leads $4M seed in Certo to automate global compliance for beauty and CPG brandsTech Funding News•May 26, 2026•Transpose Platform, Certo, Motier, Daphni
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Certo Beautytech Raises $4 Million to Automate Regulatory BottlenecksFrenchWeb•May 26, 2026•Certo, Daphni, Transpose Platform, Motier and 1 other
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Lithosquare Raises €22 Million in Seed Funding to Revolutionize Mineral Exploration with AIFrenchWeb•May 05, 2026•Lithosquare, World Fund, Kindred Capital, OVNI and 2 others
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Generare Secures €20 Million Series A Funding Led by Alven and Daphni to Accelerate Molecule DiscoveryConventuslaw•Apr 27, 2026•Generare, Alven, Daphni
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Sereact Raised $110 Million for AI Agents That 'Predict the Future'Vector Media•Apr 27, 2026•Headline, sereact.com, Bullhound Capital, sereact and 2 others
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TerraSpark Raises Over €5M In Pre-seed Funding For Space-Based Solar Energy SystemsStartup Rise EU•Mar 30, 2026•Daphni, TerraSpark
