# SPI fund

> SPI fund is a VC fund backing Chemical, Industrial and Manufacturing. See 3 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 3
- Last investment: Nov 2024
- Lead investor: 0%
- Last updated: Aug 2026
- Website: https://www.bpifrance.com/products/spi-fund/

SPI fund is a VC fund focused on Chemical and Industrial. SPI fund, or Sociétés de Projets Industriels, supports industrial projects with strong business and job prospects crucial to the national economy. It invests as an informed partner in projects focused on industrialization, chosen for their growth potential and contribution to ecological and energy transition, complementing traditional investmenttools.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Chemical | 2 | 67% |
| Industrial | 1 | 33% |
| Manufacturing | 1 | 33% |
| Transportation | 1 | 33% |
| Electric Vehicle | 1 | 33% |

6 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 1 | 33% |
| Series A | 1 | 33% |
| Funding Round | 1 | 33% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Lactips | Lactips produces water soluble and biodegradable thermoplastic pellets based on milk protein. Plastic transformation is realized through their secret industrial process. They are able to provide pellets fast and with high volume. Those pellets are used by clients as a raw material for thermoforming, films, or any kind of plastic applications. Theirfirst mission, correlated with their fundamental values, is to provide their industrial clients with new disruptive innovations to help them entering new markets.Their product will be a cleaner alternative to oil-based products, more efficient, and sustainable for consumers and the environment. | $16.9M |  | Nov 27, 2024 |  |
| Milla | Milla develops, produces, and sells self-driving cars for on-demand and shared transportation. MILLA is regarded as the top maker of automated shared vehicles, their cutting-edge autonomous cars are designed specifically for the transportation of both people and goods. | $15.9M | Seed | Oct 10, 2023 |  |
| MECAWARE | MECAWARE's mission is to speed up strategic autonomy thanks to resource circularity and the intelligence of the material cycle. | $42.4M | Series A | Oct 06, 2023 |  |

3 of 3 investments shown.

## Co-investors
- [Bpifrance](https://shizune.co/investors/profile/bpifrance) — VC Fund, 4 deals together
- [BNP Paribas Développement](https://shizune.co/investors/profile/bnp-paribas-developpement) — VC Fund, 2 deals together
- [Blue Oceans Partners](https://shizune.co/investors/profile/blue-oceans-partners) — VC Fund, 1 deal together
- [CELAD](https://shizune.co/investors/profile/celad) — VC Fund, 1 deal together
- [Claude Bernard University Lyon 1](https://shizune.co/investors/profile/claude-bernard-university-lyon-1) — VC Fund, 1 deal together
- [Crédit Mutuel Innovation](https://shizune.co/investors/profile/cm-cic-capital-innovation) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

## FAQ

### What does SPI fund invest in?

SPI fund invests primarily in Chemical, Industrial and Manufacturing startups, most often at Seed and Series A stage. Most of the 3 investments tracked by Shizune back companies in France. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did SPI fund last invest?

The most recent investment recorded for SPI fund closed in Nov 2024. Shizune tracks 3 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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