Kalank pairs €1.5m round with France 2030 MR contract to derisk dual-revenue model
Summary
French studio Kalank closed its first funding round on 17 September 2026, raising €1.5m ($1.7m).
Crédit Agricole Charente-Périgord Expansion led the round, with the KPA SPV participating.
A Kalank-led consortium was selected for France 2030's BTMRSA2 program, a 36-month MR and AI project.
The round backs consumer games; the state contract backs Kalank's enterprise MR line.
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Crédit Agricole PE arm led Kalank's first round
Kalank closed its first funding round at over €1.5m ($1.7m) on 17 September 2026.
Founded in 2017 by Baptiste Deneufbourg and Adrien Carta, it operates from Angoulême and Paris.
Crédit Agricole Charente-Périgord Expansion, the bank's local PE arm, led the round.
The KPA SPV joined as co-investor.
Capital targets hiring, French talent retention and scaling publishing activities.
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Two capital pools validate two separate revenue lines
Kalank's first line is short-format games exposed to hit-driven, title-by-title revenue swings.
Its second line is enterprise MR for Industry 4.0, training, culture and events, on contract-based revenue.
The BTMRSA2 contract extends the enterprise line with 36 months of project-based revenue.
The consortium builds a sovereign, agnostic MR technology block with AI spatial analysis for other creators.
Private equity backs the consumer business; state innovation funding backs the enterprise MR business.
"This funding round gives us the means to turn our creative vision into reality and accelerate our growth"
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Hybrid structure taps VC and public funding at once
Single-line consumer studios compete for venture capital alone.
Kalank draws on both venture funding and public innovation programs simultaneously.
The BTMRSA2 consortium places Kalank inside a state-sponsored MR supply chain.
Co-consortium members are Augmenty, Inversive XR and Brain Analytics Technologies.
What this means
For Investors & VC: Kalank's contract-revenue enterprise line offsets hit-driven game risk in diligence.
For Publishers & Developers: France 2030 consortia offer non-dilutive capital outside venture channels.
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