This Wednesday, the Angers-based Web3 incubator and accelerator Cube3 announced a €700,000 funding round and is now operating under the name Cube. This announcement is accompanied by several new initiatives aimed at better supporting startups building the blockchain ecosystem of tomorrow.
Web3 incubator and accelerator Cube3 becomes Cube and announces a funding round
Launched just over two years ago, the Web3 incubator and accelerator Cube3 announced today its name change to Cube, but more importantly, a €700,000 funding round.
This funding round is particularly encouraging, as it combines both debt and new equity investments, all with the support of Bpifrance and Banque Populaire Grand Ouest, among others.
In addition, several prominent figures are joining Cube or renewing their confidence in the company as investors and advisors. Among these figures are Nicolas Bacca, co-founder and former CTO of Ledger; Jean-Pierre Nadir, entrepreneur and judge on the TV show “Qui veut être mon associé?”; Maxime Chabroud, aka Amixem; and Emmanuel Picot, founder of the industrial group Evolis, through his family office Marco&Co.
Recently, the Cube teams have also expanded, notably with the arrival of Yannis Sahraoui, whose experience in banking and investment will add value to the incubatees and accelerates in their fundraising efforts, while Jérémy Stevance, formerly of Deloitte, brings his talents as a certified public accountant and auditor.
The Cube team
Valentin Demé, Cube’s CEO, tells TCN that the goal of these hires is to offer the companies they support greater expertise once they have reached a mature stage.
In addition, Cube is also strengthening its capabilities in “audiovisual and event production,” as evidenced by the arrival of Amandine Bossy. According to Valentin Demé, this is a strategic segment:
I believe that companies fail more often due to a lack of visibility than a lack of cash. A lack of cash is the corollary of a lack of visibility. We aim to make the “Creator Economy” a key pillar of this new vision for Cube with this fundraising round. So, we continue to create content, we continue to foster entrepreneurs with strong personal branding, betting on the idea that every business leader today must become a content creator […]
In addition, Cube recently launched a new show format called Plan Cube. During a speed-dating-style dinner, four entrepreneurs seek to convince an investor to invest up to 100,000 euros in their startup—a new format that has already enabled several companies to raise 400,000 euros:
After two years of operation, having reviewed over 300 applications and supported 20 startups, Cube has already helped its incubated and accelerated companies raise a total of 7 million euros.
While this cycle has seen fewer fundraisings than the previous bull run, Valentin Demé highlights a shift in mindset that reflects a growing maturity within the ecosystem:
The fundraising landscape has dried up somewhat over the past three years. Three years ago, funding was actually a bit too easy to come by […]. Today, to raise funds, you need traction. That means having early customers, letters of intent if the product hasn’t launched yet, or even better, revenue and/or positive year-end results.
With this €700,000 in funding and a strengthened board that includes “builders of unicorns, industries, and media,” Cube now has everything it needs to “guide startups toward profitability and give them the visibility essential for success.”
