Pepsia leverages first round of funding to expand into the European market

Right after participating in the Montpellier Venture Capital event in late May at the Cap Omega incubator, the startup Pepsia announced its first round of funding for an amount of 3 million euros, half of which is equity capital. The company was founded in 2016 by Valentin David, David Nicolas, and Matthieu Ternon.

Pepsia is based in Pérols, just south of Montpellier, and was assisted by Montpellier BIC. The startup received support from Irdi Soridec, a bank group including Bpifrance, and the Occitanie Region. Irdi Soridec invested via two funds, one of which is Aelis, which is notably supported by Montpellier Méditerranée Métropole. Pepsia posted revenue of €1.3 million and positive results for its first nine months of sales in 2018. The comprehensive funding will give the company resources needed to grow within France and also target three other European countries, namely Germany, Spain, and Italy.