About Racine²
Racine² is a venture capital firm founded in 2022. It is primarily based out of France. As of Feb 2026, Racine² is an active investor, having invested in 11 companies, with 3 new investments in the last 12 months. It primarily invests in Seed round in France based startups. Its investments are spread across a wide range of sectors from HealthTech to Enterprise Applications and Energy Tech. Most recently it participated in the $***** Series A round of Polaron A lot of funds co-invest with Racine², with names like BNP Paribas Developpement sharing a substantial percentage of its portfolio. Racine² has team of 15 people including 9 partners.Key Metrics
Racine²'s List of Top Investments
Racine² has a portfolio of 11 companies. Their most notable investments are in Clevergy and Helios.Their portfolio spans across France, Spain and United Kingdom. They have invested in HealthTech, Enterprise Applications, Energy Tech and 7 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Racine²:
1. HeartFocus
AI-driven app for healthcare professionals to perform cardiac ultrasound exams. The app integrates with Clarius handheld ultrasound scanners and provides real-time guidance and visual cues that detects image quality and triggers automatic recordings that can be reviewed by experts.
Key facts about HeartFocus
- Founded Year: 2023
- Location: Bordeaux (France)
- Stage: Seed
- Total Funding till date: $6M
- Employee Count: 50 as on Mar 31, 2026
- Investors: BNP Paribas Developpement, Épopée Gestion and 4 Others
- Latest Funding Round: Seed, Jun 18, 2025, $*****
- Highlight: Editors' Pick
2. Clevergy
Provider of building energy management solutions for commercial spaces. It offers features such as comparing energy consumption, tracking consumption, and more.
Key facts about Clevergy
- Founded Year: 2021
- Location: Madrid (Spain)
- Stage: Series A
- Total Funding till date: $5.89M
- Employee Count: 30 as on May 31, 2026
- Investors: Axon Partners Group, Rocket Internet and 6 Others
- Latest Funding Round: Series A, Oct 06, 2025, $*****
- Highlight: Editors' Pick
3. Polaron
3D image reconstruction platform. It allows users to create 3D representations from 2D images.
Key facts about Polaron
- Founded Year: 2023
- Location: Thame (United Kingdom)
- Stage: Series A
- Total Funding till date: $8M
- Employee Count: 19 as on May 31, 2026
- Investors: Speedinvest, Racine² and 1 Other
- Latest Funding Round: Series A, Feb 03, 2026, $*****
- Highlight: Editors' Pick
4. Poppins
Provider of a digital therapeutics platform for neurodevelopmental disorders. It offers therapies in the form of musical video games for the treatment of children's neurodevelopmental disorders such as dyslexia, dysorthographia and dyscalculia.
Key facts about Poppins
- Founded Year: 2018
- Location: Palaiseau (France)
- Stage: Series A
- Total Funding till date: $19M
- Employee Count: 65 as on May 31, 2026
- Investors: BNP Paribas Developpement, Verve Ventures and 7 Others
- Latest Funding Round: Series A, Apr 28, 2025, $*****
- Highlight: Editors' Pick
5. Riverse
Provider of engineered carbon credits and certification services. It certifies carbon credits from projects focused on carbon mitigation, offering a platform for buyers to acquire traceable and reliable credits. The company's standard is endorsed by a trusted accreditation body, ensuring high integrity. It supports project developers by providing an efficient credit issuance process and facilitates sales through partnerships with industry marketplaces. The platform tracks credits to prevent double counting, and the services include project review, certification, credit issuance, and market access.
Key facts about Riverse
Racine²'s Year-on-Year Investment Trends
Racine² has invested in 11 companies over the last 4 years, with an average of 3 new investments annually in the last 3 years. In 2025, it made 6 investments, while as of Feb 2026, it has made 1 investment in this year. Its most recent first time investment was in Polaron.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 6 | 0 | 6 |
2024 | 1 | 0 | 1 |
2023 | 1 | 0 | 1 |
2022 | 2 | 0 | 2 |
Racine²'s Investments by Stage
Racine² has made 5 investments in Seed stage with an average round size of $6.29M, 5 investments in Series A stage with an average round size of $5.37M and 1 investment in Series B stage with an average round size of $13.2M.Stage of entry | No. of Investments |
|---|---|
Seed | 5 |
Series A | 5 |
Series B | 1 |
Note: We have considered here, only first round of investments
Racine²'s Investments by Sector
Racine² has a diverse portfolio, with companies operating in the Enterprise Applications, Environment Tech, HealthTech, Sustainability Tech and Energy Tech. Notably, it has invested in 11 Tech companies, 9 Enterprise (B2B) companies, 7 Software companies and at least 3 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 5 |
Environment Tech | 4 |
HealthTech | 4 |
Sustainability Tech | 4 |
Energy Tech | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
Racine²'s Investments by Geography
Racine² has made most investments in France (9), followed by Spain where it has made 1 investment.Country | No. of Investments |
|---|---|
France | 9 |
Spain | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Racine²'s recent investments
Racine² has made 1 investments in 2026 so far - Polaron.Here are the most recent investments by Racine²:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 03, 2026 | United Kingdom | Series A | 5028 | [+1] | |
Oct 23, 2025 | France | Series A | 6486 | [+1] | |
Oct 06, 2025 | Spain | Series A | 7818 | [+3] | |
Jun 18, 2025 | France | Seed | 8840 | ||
Jun 18, 2025 | France | Seed | 9584 |
Team profile of Racine²
Racine² has a team of 15 members including 9 Partners and 1 Principal located in France. Racine²'s team does not sit on the board of any company as of now.Here is a list of top team members in Racine²:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Paris | - | - | |
Partner | - | - | - | |
Partner | Paris | - | - | |
Partner | Paris | - | ||
Partner | Paris | - | ||
Partner | Paris | - | - | |
Partner | France | - | - | |
Partner | Paris | - | - | |
Partner | Paris | - | - | |
Principal | Paris | - | - |
Co-investors of Racine²
Over the past 4 years, 49 investors have co-invested in Racine²'s portfolio companies. This includes funds and angels.
- Invested before Racine²: Techstars, Fredrik Wikstrom and 13 others have invested in rounds before Racine². There are 2 companies where Techstars has invested before Racine² and 1 company where Fredrik Wikstrom has invested before Racine².
- Top Co-investors of Racine²: 34 investors entered a company along with Racine². These include investors like BNP Paribas Developpement (2 companies).
Recent News related to Racine²
•
Polaron secures £5.8 million investment led by Racine2UK Tech Investment News•Feb 03, 2026•Polaron, Racine²
•
Imperial spinout Polaron snaps $8M to decode microstructures for EVsTech Funding News•Feb 03, 2026•Polaron, Racine², Speedinvest, Future Present
•
Polaron raises €6.7 million to build intelligence layer for materials scienceEU-Startups•Feb 03, 2026•Polaron, Racine², Speedinvest
•
DESKi raises €5.2 million to democratize cardiac diagnosis with AIFrenchWeb•Jun 18, 2025•HeartFocus, Racine², BNP Paribas Developpement
•
Riverse Raises €5M in Seed FundingFinSMEs•May 19, 2025•Alven, Racine², Serena, MakeSense.AI and 3 others
•
Paris-based Riverse Secures €5M to Expand Carbon Credit PlatformTech.eu•May 15, 2025•Riverse, Alven, Racine², Speedinvest and 1 other
•
French start-up CarbonFarm raises 2.5 million euros to decarbonize rice farmingusine-digitale.fr•Oct 25, 2023•CarbonFarm Technology, Racine², Serena, MakeSense.AI and 7 others
