Venture studio M2care secures €26M to drive the future of healthcare innovation — TFN

Lyon-based HealthTech venture studio M2care has raised €26 million in fresh funding to fuel the creation and development of eight innovative healthcare projects. The round welcomed a new institutional investor, the French Tech Accélération 2 (FTA2) fund, managed by Bpifrance on behalf of the French government. 

Existing backers, including Mérieux Développement, Institut NAOS des Sciences de la Vie, Crédit Agricole Centre-Est, and several family offices, also reaffirmed their confidence in the studio’s unique model.

This capital injection enables it to broaden its portfolio of early-stage projects designed to translate research into real-world health solutions. The involvement of the FTA2 fund, with its €100 million investment pool under the France 2030 programme, shows the French government’s commitment to nurturing homegrown HealthTech innovation and accelerating the transition of laboratory discoveries into impactful medical products.

The idea behind this model

Founded in 2017 by Mérieux Développement and CEA Investissement, M2care was established with a clear mission to bridge the gap between academia, investors, and industry. Positioned as a venture studio rather than a traditional fund, it goes beyond financing by actively co-building projects with founders. Its model combines entrepreneurs-in-residence, a strong international network, and tailor-made ecosystems designed for each venture.

The studio focuses on taking promising ideas from the laboratory bench to clinical and commercial reality, ensuring that innovation translates into tangible improvements for patients and broader public health. By providing both financial and operational support, M2care acts as a launchpad for health-focused startups that might otherwise struggle to scale.

Investment portfolio 

M2care has already demonstrated the strength of its approach with three promising ventures:

• Previa Medical – A company developing a digital medical device that predicts and prevents medical emergencies in hospitals, potentially transforming patient monitoring and outcomes.
• TheraSonic – Innovating in neurology with a device that leverages ultrasound to enhance treatment for brain diseases.
• Rhovica Neuroimaging – Pioneering a ventricular drainage catheter equipped with integrated sensors to improve care for patients at risk of elevated intracranial pressure.

These highlight M2care’s ability to support a diverse range of HealthTech innovations, spanning predictive medicine, advanced imaging, and therapeutic devices. The studio is also advancing new projects in cardiology, dermatology, ophthalmology, and neurology, with a fourth initiative already in the pipeline.

Strategic importance of FTA2

The decision by the French Tech Accélération 2 (FTA2) fund to invest in M2care is a strategic endorsement. Established under the Programme d’Investissements d’Avenir (PIA) and integrated into France 2030, FTA2 is specifically designed to back acceleration structures such as startup studios and incubators.

By aligning with M2care, FTA2 aims to strengthen France’s ability to translate cutting-edge academic research into commercial ventures that directly benefit patients. The fund’s involvement also sends a strong signal about the growing recognition of HealthTech as a cornerstone of national and European innovation strategies.

Looking ahead

With €26 million now secured, M2care is poised to accelerate the development of eight new healthcare projects, each addressing pressing medical challenges with novel technological approaches. The venture studio’s capacity to unite scientists, entrepreneurs, and investors under one roof positions it as a powerful catalyst for healthcare innovation.

In an era where medical needs are rapidly evolving and patient expectations are higher than ever, M2care’s model represents a bold and necessary shift. By nurturing projects from their earliest stages and ensuring they have the financial and operational backing to succeed, the studio is carving out a significant role in shaping the future of healthcare solutions in France and beyond.

Carsten Laue, General Manager of M2care, added: “We are very pleased that France 2030’s FTA 2 fund, managed on behalf of the French government by Bpifrance, is supporting our venture studio and helping to create pioneering HealthTech startups.”

Pierre Gillet, Investment Director at Bpifrance, concluded: “By investing in M2care, we are reaffirming our commitment to strengthening our technological sovereignty in healthcare. We are delighted to contribute to this effort on behalf of the French government.”