The wire — 23 September 2026

Four of today's five rounds were announced on September 22 but missed yesterday's brief, which closed on Gamindo and Eevi before they reached the wires. The fifth — Relaisanté — is fresh from this morning. Two threads run through the day, and one outlier stands apart from both.

The first thread is enterprise AI for professional operations. Three rounds are bets on autonomous AI agents embedded in specific back-office workflows: BIOLEVATE (lab regulatory compliance), Spott (recruitment agency operations), and Primo (IT management). The thesis is the same in each case: consolidate the data layer, then automate the decisions that currently require a human to log in and act. That three separate investors reached this conclusion on the same day across three different verticals — healthcare regulation, staffing, enterprise IT — says something about where the agentic AI market is right now.

The second thread is Balderton Capital. Phil Chambers led the Spott round two days after Balderton led Unit1 Studio on September 20. Two investments in three days.

The two health rounds are worth noting together. BIOLEVATE works at the lab end — AI compliance for the pre-market regulatory process. Relaisanté works at the care end — coordinating hospital discharge into home care. Different problems, different markets, same sector signal: health administration has surplus friction that software can remove.

The outlier is Lightspring — a CNRS spinout applying two-photon polymerisation to photonic chip packaging. Capital still flows toward fundamental enabling technology for the physical infrastructure that the AI wave will eventually require.

BIOLEVATE — Paris, €30M Series A

BIOLEVATE raised €30 million in a Series A co-led by RAISE France and Orange Ventures, with EQT Ventures and the MSD Global Health Innovation Fund participating. Founded in 2022 by Joël Belafa, the platform automates regulatory compliance for research and pharmaceutical laboratories — structuring documentation, mapping evidence to framework requirements, surfacing gaps before an auditor does. Around 50 employees; expanding to Boston to pursue US pharmaceutical accounts. The MSD fund's participation is the round's most pointed signal.

Spott — Leuven, €18.3M Series A

Spott (Leuven, Belgium) raised €18.3 million ($21M) in a Series A led by Balderton Capital (Phil Chambers), with Base10 Partners, Y Combinator, and Fortino Capital. Founded in 2024 by Lander Degreve, Manu Vanderveeren, and Samuel Smeys, the company is building an AI-native platform for recruitment agencies that consolidates ATS, CRM, and automated sourcing. Revenue up 10x since early 2026.

Primo — Paris, €6.9M

Primo (Paris) raised €6.9 million led by Headline and Global Founders Capital, with angels Arthur Waller (Pennylane CEO) and Romain Niccoli (Pigment CEO). Founded in 2022 by Martin Pannier, Antoine de Mereuil, Nicolas Nallet, and Samuel Lebeau, the platform unifies IT management tooling and adds AI agents for routine decisions. 400+ customers, €3.4M ARR, 4x year-on-year growth. One thread: co-founder Antoine de Mereuil has since co-founded Outline, covered by ProYarn on September 8.

Relaisanté — Paris, €6M

Relaisanté (Paris) raised €6 million in a first funding round from Ternel, Aquiti, Elaia, and AFI Ventures. Founded in 2026 by Etienne Boix and Pierre Godet, the platform matches hospitals with home-care nurses and medical professionals in under 18 minutes — compressing the discharge coordination process that currently takes hours. 12,000 professionals on the platform; target 1,000 establishments and 30,000 professionals by end of 2027. The next step: AI for discharge anticipation, starting the coordination before the formal discharge decision.

Lightspring — Besançon, €3.1M Seed

Lightspring (Besançon) raised €3.1 million in a Seed from Atlantic and OVNI Capital, with Concept Ventures, Ixcore, and Plug and Play Ventures, plus a €350,000 i-Lab grant. Founded in 2026 by Grégoire Bonnat, Adrià Grabulosa, and Daniel Brunner (CNRS), the company applies two-photon polymerisation to the photonic chip packaging bottleneck — the manufacturing constraint preventing silicon photonics from scaling industrially. AI data centre demand is creating real pull for optical interconnects; industrialising 2PP fast enough to capture it is the technical thesis the Seed must prove.

Next edition: Thursday 24 September 2026.