LightOn makes history by becoming the first European company specializing in generative artificial intelligence to go public. This major step not only illustrates the growing dynamism of the sector, but also consolidates France’s position as a key player on the Old Continent.
Tailor-made models for businesses
The French startup enters Euronext Paris, the main stock exchange in the euro zone. Founded in 2016, it has established itself as a pioneer of generative AI in France, alongside other young companies such as Mistral AI, Dust and H Company.
Its solutions are specifically aimed at businesses. Forge, for example, allows them to develop models adapted to their needs, providing tailor-made support. Paradigm, its flagship product, is an all-in-one generative AI platform, intended for all company departments. It offers the possibility of industrializing generative AI projects and demonstrating their value with a quantifiable return on investment.
Such a tool is all the more relevant given that many companies are reluctant to experiment with generative AI because they struggle to identify specific use cases, and at the same time lack qualified people in the field. Thus, lightOn has big names in its client portfolio, like Safran and the Île-de-France region.
“ We were impressed by how quickly LightOn improved its tool to adapt it to the specifics of our database. The quality of technical training and user training was highly appreciated. The exp“The strength of their technical team and the rapid evolution of the product, such as the hybrid search function, place them at the forefront of innovation”, comments Jérôme Lacaille, distinguished expert in algorithms at Safran.
Valuation at 60 million euros
The startup hopes to raise nearly 10 million euros during its IPO. The Axon Partners fund has already committed to injecting 3 million euros during the operation, open until November 21. It values LightOn at 60 million euros.
The company recorded a turnover of 8 million euros in 2023. An amount which is expected to grow considerably in the years to come: it is targeting annual revenues of 40 million euros in 2027. This would allow it to to achieve profitability, a goal that is so difficult to achieve in the generative AI sector, due to the exorbitant cost of training and operating the technology.
LightOn intends to use the funds raised to strengthen its teams, but also to continue its expansion into other markets, particularly in Europe and the Middle East. Enough to establish itself as one of the European leaders in the sector.
- The French startup LightOn announces its listing on the Paris Stock Exchange.
- It hopes to raise 10 million euros during the operation, which values it at 60 million euros.
- LightOn, specialist in generative AI, aims for profitability by 2027.
