(News Bulletin 247) – The young French company announced Thursday evening that it had successfully raised funds and could increase this amount to 13.5 million euros. Valued at just over 60 million euros, the company will take its first steps on the Paris Stock Exchange on November 26.

The French start-up Lighton, specializing in generative artificial intelligence (AI), has raised 11.9 million euros as part of its IPO on the Paris Stock Exchange, it announced on Thursday.

“This fundraising will allow us to accelerate our commercial momentum, strengthen our teams and intensify our investments in innovation in order to enrich our Paradigm generative AI platform,” commented Igor Carron and Laurent Daudet, co-founders of the young company, cited in the press release.

The company, which markets generative AI solutions, a technology that makes it possible to produce all kinds of content on a simple request in everyday language, has issued 1 million new shares offered at a price of 10.35 euros each and could succeed in raise up to 13.5 million euros in the event of strong demand.

It is now valued at 62 million euros, according to the press release.

Market debut on November 26

Lighton, which wants to become the first company entirely dedicated to generative AI listed in Europe, plans in particular to use this funding to internationalize on the continent and in the Middle East, explained Laurent Daudet to AFP.

The start-up, which has around forty employees and generated a turnover of 8 million euros in 2023, has as clients public actors, such as the Ile-de-France region, but also private ones, such as aeronautical equipment manufacturer Safran.

In particular, it develops chatbots similar to ChatGPT, a showcase for general public generative AI designed by the American giant OpenAI, and search engines applied to companies’ internal databases.

The first listing of Lighton, founded in 2016, is scheduled for November 26, in a context of a slight recovery in IPOs, after two slow years due to the rise in rates.

(With AFP)