# NcodiN funding: rounds and investors

> NcodiN has raised $18M across 1 round since 2025. Investors include MIG Capital, Earlybird Venture Capital and Elaia. Every round with its source.

Source: https://millionrounds.com/company/ncodin (Millionrounds; every figure on the page links to its filing or article)

France · [Seed startup](https://millionrounds.com/companies)

# Who invested in *NcodiN*

One round we have observed, with the 8 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

AI Deeptech Hardware & Electronics Semiconductors

Raised 12 months ago

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Funding summary Updated 5 Nov 2026

**$18M** raised across 1 round since 2025, from 2 sources

- **Latest round:** Seed, $18M Nov 2025
- **Led by:** MIG Capital
- **Investors:** 8 (1 led)

See who backed them

## The rounds

- **Nov 2025** Seed **$18M** [MIG Capital](https://millionrounds.com/fund/mig-capital) Lead [Earlybird Venture Capital](https://millionrounds.com/fund/earlybird) [Elaia](https://millionrounds.com/fund/elaia) [Verve Ventures](https://millionrounds.com/fund/verve-ventures) [nVentures](https://millionrounds.com/fund/nventures-2) [Maverick Silicon](https://millionrounds.com/fund/maverick-silicon) [PhotonVentures](https://millionrounds.com/fund/photonventures) [OVNI Capital](https://millionrounds.com/fund/ovni-capital) Reported by Silicon Canals and 1 other

## Founders and team

From NcodiN's own website: 2 founders, 2 on the team.

**Francesco Manegatti** Co-founder, CEO

**Fabrice Raineri** Co-founder, CTO

- **Carlo Guareschi** Head of Business Development
- **Yacine Halioua** Head of Product Development

## Everyone who backed them

[MIG Capital](https://millionrounds.com/fund/mig-capital) VC firm **1** round, led 1

[Earlybird Venture Capital](https://millionrounds.com/fund/earlybird) VC firm **1** round

[Elaia](https://millionrounds.com/fund/elaia) VC firm **1** round

[Verve Ventures](https://millionrounds.com/fund/verve-ventures) VC firm **1** round

[nVentures](https://millionrounds.com/fund/nventures-2) VC firm **1** round

[Maverick Silicon](https://millionrounds.com/fund/maverick-silicon) Hedge fund **1** round

[PhotonVentures](https://millionrounds.com/fund/photonventures) VC firm **1** round

[OVNI Capital](https://millionrounds.com/fund/ovni-capital) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=ncodin).

## Also claim to have backed them

These 3 firms list NcodiN as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[MIG Fonds](https://millionrounds.com/fund/mig-fonds) VC firm Per its own site

[3LB Seed Capital](https://millionrounds.com/fund/3lb-seed-capital) VC firm Per its own site

[topconsult Raudner KG](https://millionrounds.com/fund/topconsult-raudner-kg) Investment firm Per its own site

## Quick answers about NcodiN

### Who invested in NcodiN?

NcodiN's investors include MIG Capital, Earlybird Venture Capital, Elaia, Verve Ventures and nVentures, and 3 more on record. MIG Capital led its latest round.

### How much has NcodiN raised?

NcodiN has raised $18M across 1 round since 2025.

### When did NcodiN last raise?

NcodiN's most recent round was a Seed of $18M in Nov 2025, led by MIG Capital.

### What was NcodiN's biggest round?

Its most recent round, $18M in Nov 2025, is also its largest on record.

### Who backed NcodiN first?

NcodiN's first round on record, in Nov 2025, was backed by MIG Capital, Earlybird Venture Capital and Elaia and 5 others.

### What stage is NcodiN at?

NcodiN's latest named round is a Seed, in Nov 2025.

### Where is NcodiN based?

NcodiN is based in France.

### Who led NcodiN's rounds?

MIG Capital led the Seed in 2025.

## Companies like NcodiN

In the same sector, and raised in the last eighteen months.

[**Fundbot** $2.6M · Oct 2026](https://millionrounds.com/company/fundbot)[**Koddex** $3.4M · Oct 2026](https://millionrounds.com/company/koddex)[**Pigment** $483M · Oct 2026](https://millionrounds.com/company/pigment)[**Elax Energy** $34M · Oct 2026](https://millionrounds.com/company/elax-energy)[**Wiremind** $39M · Oct 2026](https://millionrounds.com/company/wiremind)[**Verso** $6.0M · Oct 2026](https://millionrounds.com/company/verso)

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