Trend report

Towards a
brighter future
 Disclaimer
shared our vision and perspectives about the
ever changing ecosystem

This report is an illustration of our review and analysis of nearly

4.000 early stage startups

This selection only involves the RAISE Ventures team

We hope you will enjoy reading this report as much as we have enjoyed producing it!
Don’t hesitate to share, comment, like…(while mentioning @raiseventures @RAISE) or send us your
feedback (ventures@raise.co). We’d also like to thank all contributors for their key insights and the
entire RAISE Team for their support.

RAISE Trend Report 2

2023 : road to a
brighter tech future
The tech industry went through a roller coaster year in 2022, with stocks fluctuating, interest rates rising and valuations crashing. Even
unicorns, once considered a sure bet for success, are on the brink of extinction. Investors flipped their weighting of growth versus
profitability, and narrowed their focus to early-stage companies. The landing was neither a smooth one for entrepreneurs nor for VCs.

As we look ahead to 2023, the Tech industry will remain at the forefront of the major shift in the way we live, work, and interact. From
new paradigms of efficiency and sustainability, to the rise of new technologies and business models, we'll explore the ways in which
Tech ecosystem is evolving to meet the changing needs of the world.

Tackling these new challenges requires collaboration at all levels. At RAISE, we have always been good at liaising between different
stakeholders and we understand the role that corporates can play in supporting innovation at scale. As the tech industry continues to
evolve and change, large companies will play a vital role in driving innovation and helping startups succeed and grow.

As we delve into the details of the trends in this report, it's important to remember that tech is not just a tool for solving problems, but a
powerful force for shaping our future. By embracing new opportunities and disruptions, we can create a brighter, more sustainable, and
a fairer future for all.

So, whether you're an entrepreneur, a startup, a corporate, or just someone who wants to stay ahead of the curve, this report is for you.
Join us as we explore the trends that will shape the tech landscape in 2023 ... toward a brighter future !

The RAISE VENTURES Team

3
 Eyes in the sky Second-hand
1 5

CyberAwareness Web 3
2 6

Decarbonizing Game on
3 7

SaaS What’s next

4 8

4
 Eyes in
01 the sky
the power of satellite imagery
for a cleaner world

TL;DR : Let's save the planet..

one pixel at a time!
 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Eyes in
01 ~2,666 active satellites are orbiting the Earth

the sky ClimateTech startups are increasingly relying on data from satellite imagery to better understand
and address the impacts of climate change

the power of satellite

imagery for a cleaner world
real-time, accurate data that can inform decision-making and drive
action.

Satellites’ scale and automated nature hold promise to drive down these costs while
2,666 improving accuracy and reliability
active satellites are
orbiting the Earth

RAISE Trend Report 6

 Eyes in the sky CyberAwareness Decarbonizing Saa
Industry Second hand Web 3 Game on What’s
next?

Those who rely on satellite data …

Market
01

Watch
Morfo Pina Earth Wildsense Pachama CarbonFarm

$4.4m $2.5m Pre-seed $79.3m Pre-seed

… And those who provide the Satelite Data

Riverse SpaceSense Space4Good Exwayz Kayrros

Pre-seed $1.1m NA$m Pre-seed $81.3m

RAISE Trend Report MARKET WATCH 7

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Fireside Chat | Thibault Sorret The most interesting aspect of the current voluntary carbon market is the distribution of
CEO & Co-Founder of Wildsense available supply and its evolution.

On the supply side,

the challenge is now to help bring in new projects by making more efficient, accurate
and reliable.

This process is very slow, manual and inaccurate. And it’s slowing
down the entire voluntary carbon market

o keep up with global targets, the bulk of the voluntary market must turn
to carbon removal. This is essential to keep the planet livable for future generations.

“Over time, you're going to see a transition

from avoidance-based carbon projects to
As certification still takes a long time, the replenishment rate removal-based carbon projects”
of new carbon credits is still far lower than annual demand

Raise Trend Report 8

 Your
02 end-user
the best ally against Cyberattacks !

TL;DR: Security teams vs end-

users: the war ends now.
 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Your 02

end-user the best ally against Cyberattacks !

, IT teams are understaffed to deal with these new challenges

But what if Cybersecurity could be productized?

As SMBs are getting more equipped in new SaaS and Cloud tech, we believe that the next challenge
for the cyber space will be about delivering the best experience possible to end-users

85%
of cyberattacks are
due to employee error

every end-user on the planet in every corporation will be able to pro-actively respond to
cyberthreats by simply getting involved.

RAISE Trend Report 10

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

From prevention with phishing risk and analysis solutions…

Market
02

Watch
Mantra Qontrol Arsen Riot

Geoffrey Agi
Head of Security Agicap
$2.0m $500k $2.8m $2.2m

“I am convinced that the impact of

cyberawareness is much higher at the very
moment of the action. In this sense, at to log-ins & proactive notification solutions
Agicap we have a SaaS-based work
environment for which existing solutions
such as Splunk or Qradar - targeting
experts – were unadapted for our log-
management use-cases. Instead, we
started developing one-by-one our log-
management to send alert and empower Elba Nudge DoControl Cyrius
end-users at the right moment.
And still, we are sure that an all-in-one
solution will emerge to cover all our use-
cases."
Seed undisclosed $7m $43.4m Pre-seed undisclosed

RAISE Trend Report MARKET WATCH 11

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Fireside
chat
Empowering the end-user is not a choice, it’s the
only way to tackle all risks at scale

Eric Fourrier,
Co-Founder & CEO GitGuardian

Security certification is now inevitable,

certification is becoming a standard.

, I would be excited by having an upheaval on certification requirements, resulting in a real

security posture for new types of threats including supply chain, data leak on SaaS tools, or credential
theft, to name a few.
In most cases,
security issues are caused by a mistake from the end-user who
actually knows how to fix it by himself

12
 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Fireside
chat with the rise of remote working,
private personal networks and data security became important issues.

this period also coincided with the surge of new cyber-security tools designed to
help companies like
Gilles Bertaux,
CEO Livestorm They allowed
Livestorm to significantly reduce the time required to get certifications such as ISO 27001

13
 03
Decarbonizing
energy systems
TL;DR : Time to set the energy shift
towards renewables on emergency
mode

RAISE Trend Report

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

03
Decarbonizing risk of over-relying on fossil fuels

energy Europe needs to

systems
rethink its energy mix by reducing its dependence on fossil energy and accelerating on renewables

advances in alternative technologies

more software and services startups are being created to help
companies and countries get closer to their net zero pledges.

As early-stage energy startups remains insulated from the overall market environment, energy software
applications alone will not save the world

Hardware solutions like carbon capture and carbon storage startups, to "suck" carbon dioxide out of the
air,

RAISE Trend Report 15

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Fireside Chat | Aglae Touchard Le

Drian Co-Head & Partner of RAISE Impact

Raise Trend Report 16

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

03 Mitigation & Adaptation &

Market Direct Decarbonization alternative energies

Watch
Granular Lite Thermulon Annea Inocel BeFC

$11m $3.3m

$2.2m NA - France $917k $1.1m

Glint Solar Quatt

Carbon removal &
decreased emissions

$11m $3.3m

Carbonloop Neocarbon Revcoo

Nash

NA - France $1.4m $3.9m Germany

RAISE Trend Report MARKET WATCH 17

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Fireside Chat | Christophe Lienard

Innovation Director of Bouygues

Raise Trend Report 418

 SaaS,
04is eating the
Industry
TL ;DR
Let’s put manufacturers on autopilot,
right from your desk.

RAISE Trend Report

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

04
SaaS is eating
the Industry

RAISE Trend Report 20

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Collect, organize knowledge Analyze data & assets

Market 04 and train to make them actionable

Watch
Mercateam Ask for Anthill Automi Samp Full Speed
the moon Automation

$1,3m $500k $4.2m Pre-seed $4.4m $3.2m

Create and optimize workflows Manage costs

Juno Fabriq Graneet OnSite

Pre-seed $4.4m $2.6m Pre-seed

RAISE Trend Report MARKET WATCH 21

 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

Cross- interview with :

Thibaud Godillot Laurent Bourgouin Luc Leroy

CEO of Juno CEO of Samp CEO of Full Speed
Automation

MARKET WATCH 22
 05
Second-hand is getting a second life

TL;DR
‘Second-hand anything’ is getting
nichy & pro with retailers entering the
dance!

RAISE Trend Report

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Second
05 This year, we will keep an eye on startups that facilitate, scale and optimize
the second-hand market and customer journey on behalf of retailers and distributors.

hand is getting a second life

$182Bn*
resale market grew
an estimated 30%
in 2022

RAISE Trend Report 24

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Cross-
interview:

RAISE Trend Report 25

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Sport
05
Market
equipment

Watch Luxury
Goods
Book & Toys
Children equipment

Fashion Mobility

Caption

From mass-market (center)

to verticalized approach (outside)

Traditional leaders

Verticalized &
nichy marketplace

Tech innovation for retailers

Electronics Obey Furniture &
Household
RAISE Trend Report equipment 26
 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Fireside Chat | Martin AUNOS

Director of second-life at Fnac-Darty

RAISE Trend Report 27

 06Web3
Better. Safer. Stronger

TL ;DR
Stop playing with fire, get a Ledger !

RAISE Trend Report 28

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Web3 Better. Safer. Stronger.

06

$121Bn
have been raised in
2022 for the crypto
space in 2022

RAISE Trend Report 29

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Protect wallets & transactions Monitor and prevent

Market
06 attacks

Watch
Nefture Blowfish Wallet Guardrail Blockem
Pocket
Guard Universe

Pre-seed
Pre-seed $11.8m Pre-seed Pre-seed

Forta
Audit smartcontracts & tokenomics Lossless

Pre-seed $23m
OpenGem Hacken Nomiks

Pre-seed Seed Pre-seed Harpie Immunefi

$4.5m $29.5m

RAISE Trend Report MARKET WATCH 30

 Eyes in the sky CyberAwareness Decarbonizing SaaS Second hand Web 3 Game on What’s
next?

Fireside
chat

Driss Benamour,
CEO of Exponential

MARKET WATCH 31
 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Fireside
chat

Mehdi Lebbar
CIO/President

Greg Jizmagian
CTO

32
 Game
07 on
AI is creating the next era
for gaming !

TL ;DR
Generative AI unlocks
a new level of customized experiences
for players

RAISE Trend Report 33

 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Game 07

On
AI is creating the next
era for gaming

34
 Eyes in the sky CyberAwareness Decarbonizing Industry Second hand Web 3 Game on What’s
next?

They are enabling the gaming revolution

Market
07

Watch
Playground Leonardo.ai Scenario Kinetix Promethean

Pre- Pre-seed $6m $11.6m $9.7m

seed

Inworld Charisma.ai Latitude Pimento

AI tool to build games
and stories

$80.5m N/A $3.3m Pre-seed

MARKET WATCH 35
 Eyes in the sky CyberAwareness Decarbonizing SaaS
Industry Second hand Web 3 Game on What’s
next?

Fireside Chat
Julien Bourhis COO Homa Games

RAISE Trend Report 36

 2023
08 What’s
next?
RAISE Trend Report 37
 Eyes in the sky CyberAwareness Decarbonizing SaaS Second hand Web 3 Game on What’s next?

Tech bets for 2023!

Fintech shaken by instant payments ClimateTech: Hardware's Comeback

Highway to space Tech-ing it Easy on the Planet

Gamified Medicine
Daddy ... Daddy cool

Coming back to the Office

Retail's Secret Weapon: Communities

RAISE Trend Report 38

 Our team
(or at least Stable Diffusion’s perception of us !)

Pierre-Edouard Bérion Sophia Martin Stéphane Pesqué Angélique Elizé

Camille Le Jossec Maud Larbey Clément Hecquet Quentin Le Gall

RAISE Trend Report 39

 RAISE GROUP RAISE VENTURES

About

INVESTING

PHILANTHROPIC SUPPORT

RAISE VENTURES SINCE 2018

OPEN INNOVATION
26 30% +1000

AMBITIOUS AND RESPONSIBLE ENTREPRENEURS WHO JOINED US IN 2022

RAISE Trend Report

+1 undisclosed deal 40
 Sources
Trend #1
UCS Satellite Database, Union of Concerned Scientists (May 1, 2022)
Amsterdam-based AI startups that raised €1M+ in 2022, Editorial team of Silicon Canals (December 19, 2022)
Climate Data Startups Take Science Off Campus and Into Boardrooms, Eric Roston (January 12, 2023)
How crypto crimes are evolving and what to expect in 2023, Slava Demchuk (December 29, 2022).
Trend #2
Securing small and medium-size enterprises: What’s next?, Bharath Aiyer, Venky Anant, and Daniele Di Mattia (March 24, 2021)
Saas-based security awareness and training, Proof Point
To better thwart ransomware attacks, startups must get cybersecurity basics right, Carly Page (October 24, 2022)
Trend #3
The economic transformation: What would change in the net-zero transition, Mekala Krishnan, Hamid Samandari, Jonathan
Woetzel, Sven Smit, Daniel Pacthod, Dickon Pinner, Tomas Nauclér, Humayun Tai, Annabel Farr, Weige Wu, and Danielle
Imperat, (January 25,2022)
Accelerating Decarbonization through Trade in Climate Goods and Services, World Economic Forum (September 20, 2022)
Decarbonising the energy system by 2050 could save trillions, Oxford study (September 14, 2022)
Trend #4
Unlocking the industrial potential of robotics and automation, Femi Ajewole, Ani Kelkar, Dylan Moore, Emily Shao & Manju
Thirtha (January 6, 2023)
Top 10 Manufacturing Trends (2023 & 2024), Josh Howarth (December 13, 2022)
Augmented Worker: How Digital Technology Can Power Your Workforce, Tulip
RAISE Trend Report
Trend #5
Rolex is starting to sell officially certified used watches, Lakshmi Varanasi (December 5, 2022)
Entrepreneurs, Create A Startup To Take Advantage Of A Rising IIndustry - Secondhand Anything, Bernhard Schroeder
(February 21, 2022)
Resale Set To Be Star Of Retail In 2022 For Consumers And Brands, Catherine Erdly (January 17, 2022)
Trend #6
All you need to know about financial risks in DeFi, Mausam Jha (December 13, 2022)
2023 Crypto Market Outlook, David Duong (December 20, 2022)
After the FTX Collapse, What Should Crypto Fix Next to Focus on Widespread Adoption?, Shubham Pandey (December
17, 2022)
How will security be a primary issue for the mass adoption of Blockchain?, Célim STARCK, 2022
Trend #7
12 creative AI startups to watch, according to investors, Sadia Nowshin (december 29, 2022)
The Generarive AI Revolution in Games, James Gwertzman and Jack Soslow (November 17, 2022)
An In Depth Look At Ai In Games, Arne Neumann (March 25, 2019)
How Artificial Intelligence Can Empower The Future Of The Gaming Industry, Rem Darbinyan (July 13, 2022)
A.I.-Generated Art Is Already Transforming Creative Work, Kevin Roose (October 21, 2021)
41
 Our beloved
contributors
Geoffrey Agi, Security officer at Agicap Thibaud Godillot, Co-Founder & CEO at Juno

Martin Aunos, Director of second-life business unit at Fnac-Darty Greg Jizmagian, CTO at Exponential

Driss Benamour, CEO at Exponential Mehdi Lebbar, Co-founder at Exponential

Gilles Bertaux, CEO at Livestorm Luc Leroy, Co-founder & CEO Full Speed Automation, ex-Tesla

Laurent Bourguoin, Co-Founder & CEO at Samp Christophe Lienard, Innovation Director of Bouygues

Julien Bouhris, COO at Homa Games Alexis Perilleux, Journalist

Claire Bretton, Co-founder at Obey Thibault Sorret, CEO at Wildsense

Stéphanie Crespin, Founder & CEO at Reflaunt Aglaé Touchard-Le Drian, Partner at RAISE Impact

Eric Fourrier, Co-founder & CEO at Gitguardian Chloé Tuot, Co-head at RaiseLab

Noé Gersanois, Co-head at RAISE SHERPAS

And special thanks to the whole RAISE
family for their trust & support !

RAISE Trend Report 42

 Towards a
brighter future
If you think you can be the next global tech leader we
are looking for, we'd love to hear from you!
ventures@raise.co