On Wednesday, the Angers-based Web3 incubator and accelerator Cube3 formalized a €700,000 funding round and is now known as Cube. This announcement is accompanied by a number of new developments aimed at providing the best possible support to startups building the blockchain ecosystem of tomorrow.
Web3 incubator and accelerator Cube3 becomes Cube and unveils fundraising round
Launched just over two years ago, Web3 incubator and accelerator Cube3 today announced 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, with support from Bpifrance and Banque Populaire Grand Ouest, among others.
In addition, several prominent figures are joining Cube or renewing their confidence in it as investors and advisors.
These personalities include Nicolas Bacca, co-founder and former technical director of Ledger, Jean-Pierre Nadir, entrepreneur and judge on the TV show “Qui veut être mon associé ?” (Who wants to be my partner?), Maxime Chabroud, alias Amixem, and Emmanuel Picot, founder of the industrial group Evolis, through his family office Marco&Co.
the Cube teams have also grown, notably with the arrival of Yannis Sahraoui, whose experience in banking and investment will bring added value to incubatees and accelerates in their fundraising efforts, while Jérémy Stevance, from Deloitte, brings his talents as a certified public accountant and auditor.
Valentin Demé, CEO of Cube, tells TCN that the aim of these recruitments is to offer the companies they support greater expertise once they have reached maturity.
In addition, Cube is also strengthening its “audiovisual and event production” capabilities with the arrival of Amandine Bossy. According to Valentin Demé, this is a strategic segment:
I believe that companies die more from a lack of visibility than from a lack of cash. Lack of cash is a corollary of lack of visibility. With this fundraising, we aim to make the “Creator Economy” an important pillar of Cube’s new vision. So we are continuing to create content and entrepreneurs with strong personal branding, betting that every business leader today must become a content creator […]
In addition, Cube recently launched a new program format called Plan Cube. During a speed-dating-style dinner, four entrepreneurs seek to convince an investor to invest up to €100,000 in their startup, a new feature that has already enabled several companies to raise €400,000:
After two years of activity, more than 300 applications reviewed, and 20 startups supported, Cube has already enabled its incubatees and accelerates to raise a total of €7 million.
While this cycle has seen less fundraising than the previous bull run, Valentin Demé highlights a change in mindset that reflects a maturing ecosystem:
The fundraising environment has dried up somewhat over the last three years.
Three years ago, it was actually a little too easy to obtain funding […]. Today, to raise funds, you need traction. That means having your first customers, letters of commitment if the product hasn’t been released yet, or even better, revenue and/or positive results at the end of the year.
With this €700,000 in funding and a strengthened board that includes “unicorn, industry, and media builders,” Cube now has everything it needs to “lead startups to profitability and give them the visibility they need to emerge.”
