Funded Startups in Lyon
Among the 50 most recent Lyon-area rounds shown, the largest disclosed amount is MaaT Pharma’s $44M (2025-07-28).
Among the 50 most recent Lyon-area rounds shown, the largest disclosed amount is MaaT Pharma’s $44M (2025-07-28). That $44M figure sits far above most other disclosed rounds in the table, where many deals cluster between about $1M and $22M (for example, Axoltis pharma’s $21M on 2025-12-02 and Osivax’s $20M on 2025-08-26), with only a few disclosed rounds in the same general high range (including $44M at Indy on 2023-11-20).
The list also concentrates by time: multiple biotechnology and AI/analytics rounds appear in mid-2024 (e.g., DigitalKin $450K on 2024-09-19; Riverse $2M on 2023-06-01 is outside the window, but 2024 runs from 2024-03-11’s HawkCell $6M through 2024-12-19’s Vibly $730K). Stage and disclosure patterns are mixed: “Series Unknown” appears frequently (NETRIS Pharma 2026-05-28 $8M; CTIBiotech 2026-04-28 $2M; Osivax 2025-08-26 $20M, among others) and “undisclosed” amounts recur as well (TheraPPI Bioscience 2026-06-01; Cosmo Tech 2024-12-02). The most recent row is Flease’s Series A $15M on 2026-06-23, while the smallest disclosed amount is Havah’s $10K on 2023-11-04.
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Frequently asked
What’s the largest disclosed round in this Lyon list, and how does it compare to the next-highest disclosed deals?
MaaT Pharma’s $44M (2025-07-28) is the largest disclosed amount, and it is in the same disclosed high range as Indy’s $44M (2023-11-20). The next tier below includes Osivax’s $20M (2025-08-26), RED Horticulture’s $19M (2023-11-21), and Axoltis pharma’s $21M (2025-12-02), which are well below $44M.
Do the most recent entries cluster within a narrow time window, or are they evenly spread across years?
They cluster toward recent months: the table’s latest round is Flease’s $15M on 2026-06-23, followed by multiple 2026 entries in May and June (e.g., NETRIS Pharma $8M on 2026-05-28 and CTIBiotech $2M on 2026-04-28). Earlier years still appear, but the density is clearly higher near 2025–2026 (for example, many 2025 biotech rounds such as Osivax $20M on 2025-08-26 and ENYO Pharma $7M on 2025-06-12).
Which disclosure/stage labels dominate the dataset, and are there notable gaps?
“Series Unknown” is a recurring label alongside named financings: NETRIS Pharma is “Series Unknown” at $8M (2026-05-28) and CTIBiotech is “Series Unknown” at $2M (2026-04-28), while Osivax is also “Series Unknown” at $20M (2025-08-26). “Undisclosed” amounts also appear multiple times, such as TheraPPI Bioscience on 2026-06-01 and Cosmo Tech on 2024-12-02, creating outlier visibility where size can’t be benchmarked.
Are there outliers by amount (either unusually small or unusually large) worth flagging for diligence?
Havah’s disclosed $10K (2023-11-04) is the smallest disclosed amount in the list and is dramatically below the surrounding disclosed values (e.g., Naali’s $740K on 2023-10-06 and Qwarks’ $850K on 2023-09-25). On the high end, $44M at MaaT Pharma (2025-07-28) is the standout disclosed maximum, far above many other disclosed rounds like ENYO Pharma’s $7M (2025-06-12) and Diagnoly’s $6M (2025-04-08).
Which sectors appear repeatedly across these rounds, indicating a specialization in the Lyon pipeline?
Biotechnology shows up across many entries, including Flease (Transportation is a different sector, but biotech dominates elsewhere), such as MaaT Pharma ($44M on 2025-07-28), Adocia ($10M on 2025-02-26), Poxel ($4M on 2023-03-23), and Lys Therapeutics ($600K on 2023-03-15). Artificial Intelligence (AI) also appears multiple times (e.g., Diagnoly $6M on 2025-04-08 and Indy $44M on 2023-11-20; plus Previa Medical $2M on 2023-02-16).
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