Forty companies present in the NEXT40/FT120 in 2024 no longer appear in the 2025 edition. This discreet but structuring movement reveals economic realities sometimes far from the usual narrations of the ecosystem.
Each year, the publication of the new promotion of French Tech Next40/120 draws attention to new entrants. In 2025, eleven startups joined the NEXT40, including Agryco, Alice & Bob and Gojob. But in hollow, it is another phenomenon that deserves to be observed, namely the release of the stage of around forty of the previously selected actors.
An outing of the ranking does not mean a failurebut it reports a change in dynamics. In some cases, it translates a economic slowdown or a more structural difficulty. The French Tech Mission, responsible for this annual selection, is based in particular on criteria for growth in turnover, economic impact, job creation or industrial trajectory. Elements that all companies are unable to maintain year after year and it is the long, quiet river of the company.
Among the notable absents are several emblematic unicorns of the French Tech scene. Ankorstore, B2B platform for merchants, announced a 30 % reduction in its workforce in early 2024. Manomano, whose activity had exploded during the COVID period, underwent a decline in e-commerce. Younited, an actor in instant credit, has not communicated on new major milestones since his last fundraising and stock market rating. Sorare, long perceived as a window of the web3 in France, faces a net market in net withdrawal and increasing regulatory pressure. So many trajectories where uncertainty weighs more than it carried two years ago.
Another visible trend: the slightest presence of B2C projects with high marketing intensity. Companies like MyM, Singer or PerfectStay leave the ranking. The post-cookie economic environment, combined with an increase in customer acquisition costs, reduces the profitability of models. In a context where investors favor sustainability, these startups are mechanically weakened.
Deeptech or Medtech companies, like TreeFrog Therapeutics, DNA script or prophesee, are not spared. Their long development cycles, often disconnected from immediate market indicators, make them more difficult to position in a record based on economic metrics. This structural discrepancy feeds a recurring debate on the capacity of the French Tech classification to integrate the specifics of the break in break.
Other cases are a strategic refocusing or consolidation. Some startups have voluntarily slowed their development internationally. Others have chosen an acquisition or fusion, which makes them ineligible to the ranking. It is sometimes also the absence of recent lifting or a strong public signal which plays against them, even if the activity remains healthy.
Through these developments, the 2025 ranking illustrates a rebalancing expected of many observers, with fewer stories populated by imaginary beings, and more execution.
In filigree, the selection operates as a revealer of the current priorities of the ecosystem, industrialization, territorial impact, verticalization, financial robustness. So many elements that redefine the contours of the word “promising”, in a period when economic uncertainty imposes a return to the essentials and fundamentals.
The list of outgoing companies in the 2025 edition of the NEXT40/120
- ADAGIO
- Addgues
- Agricotic
- Aledia
- Ankorstore
- Anywr
- Comet
- Crosscall
- Dental monitoring
- Devilet
- DNA Script
- Happyvore
- Hoppen
- IAD
- Ilek
- The fork
- Leocare
- Lifen
- Lumapps
- Manomano
- Mooncard
- Mym
- PerfectStay
- Playplay
- Prophecy
- Safti
- Singular
- Sipearl
- Sorare
- SUMERIA
- Tap
- TreeFrog Therapeutics
- Umiami
- Virtuo Technologies
- Volta Medical
- Weastain
- Ynséct
- Younited
