ColibriTD's €4m Seed Builds on an Earlybird-Heavy 2023 Share Issue

ColibriTD's €4 million seed is an Earlybird follow-on with a visible legal history. The Paris quantum-software company announced the round on 27 August 2026, naming Earlybird Venture Capital as lead investor alongside SymbiaVC and Medin VC. Its filed 2023 capital record shows what the headline leaves out: Earlybird Uni-X Seed Fund I took 6,293 of 6,714 new shares in two ABSA S issues, or 93.7% of that issue. The two founding lines still held 30,000 of 37,326 issued shares, 80.4%, before the new round.

That sequence makes the financing more legible without turning an old cap table into a new one. The public announcement establishes the amount, date and investor group. The register acts establish an earlier institutional position, the instruments attached to it and the capital denominator immediately before the announcement. They do not yet establish the 2026 issue price, valuation, post-close percentages or the exact allocation between Earlybird, SymbiaVC and Medin VC.

The public seed sits on a quantum-simulation expansion plan

ColibriTD's official site describes a hardware-agnostic, quantum-powered multiphysics platform that runs across IBM, AWS Braket, IQM, IonQ and Quobly. It says the software helps industrial teams work with computationally demanding physical systems, including partial differential equations and the company's H-DES approach. The announcement frames the €4m as capital to scale that platform across industry.

EU-Startups reports the 27 August close and says ColibriTD plans to expand research and development, hiring, partnerships and international activity. It also describes seven co-construction projects across six sectors. Tech.eu independently confirms the round, the investor group and the company's earlier description of roughly €1m from Earlybird.

Those reports answer the public-financing question. They do not say which legal entity issued the new securities, whether the round was all ordinary equity or included instruments, or what each investor subscribed for. The French entity that can be checked is COLIBRITD, SIREN 852155571. Its pre-close record provides the bridge to the earlier money.

A €1.067m 2023 issue identified the repeat investor

The 2023 capital history has two distinct steps. In March, a 14 March act approved Starburst Accelerator as a new associate. The act records a 612-share increase at €175.95 per share and a filed subscription total of €107,681.83, paid by compensation against a liquid and due receivable. Capital became €30,612. The filed total is reproduced as stated, rather than recalculated from a rounded unit price.

The larger step came in July. Two resolutions authorised ABSA S shares at €158.90 per unit, with a BSA Ratchet S attached to each issue. The first allotment comprised 3,569 shares for €567,114.10. The second comprised 3,145 shares for €499,740.50. A BNP Paribas certificate records €1,066,854.60 deposited for all 6,714 shares.

The subscriber split is unusually informative. Earlybird Uni-X Seed Fund I GmbH & Co. KG took 3,148 shares in the first issue. Christian Holweck took 158, Pomeroles SARL 95, GM Equity SARL 63, Pierre Gaubil 31, Arnaud Claudel 31, Dominique Fresnay 31 and Mobile Loov SARL 12. The second 3,145-share issue was reserved entirely for Earlybird Uni-X. Adding the two Earlybird allocations gives 6,293 shares, or 93.7% of the July issue.

The public reports' description of an earlier “about €1m” Earlybird pre-seed sits alongside this filed €1.067m ABSA deposit. It is safer to keep those descriptions adjacent than to claim they are the same cheque. The RNE record does, however, identify the repeat investor and the legal instruments behind most of the 2023 equity issue.

Founders retained four-fifths of issued shares before the new round

The founding documents show Hacène Goudjil and ITD Solutions, represented by Laurent Guiraud, with 15,000 shares each out of 30,000 at formation in 2019. Later amended statutes opened transfer and exclusion mechanics to corporate and individual subscribers. After the documented 2023 issues, the two founding lines still held 30,000 of 37,326 issued shares. That is 80.4% of the nominal issued-share base.

The denominator matters. The 80.4% calculation uses issued shares recorded in the legal history. It is not a fully diluted founder percentage. The 2023 resolutions authorised up to 4,000 BSPCE and created a strategic committee that included the two founders and Dr Frédéric Du Bois-Reymond, while an employee capital resolution was rejected. An authorisation is not proof that options were issued, vested or exercised. Nor does the nominal share count describe preference, ratchet or voting economics in full.

The concentration also changes how the 2026 announcement should be read. Earlybird is not simply a new lead appearing beside two other funds. Its Uni-X vehicle already took most of the prior ABSA S issue. The €4m therefore follows a documented institutional position and a ratchet-bearing instrument history, while the founding lines remained the largest nominal block immediately before the public close.

The June 2026 act is a pre-close denominator, not a post-money cap table

The latest returned RNE act is dated 25 June 2026 and records the 29 April annual meeting. It still states capital of €37,326. It records Hacène Goudjil's resignation as president, Laurent Guiraud's appointment as president and Goudjil's appointment as director general. Those governance changes are public legal facts, but they do not disclose the 27 August financing's new securities.

Timing is decisive. A French capital increase can be announced before its filing package is returned, and a financing can include preferred instruments or warrants whose legal record arrives in stages. The June act predates the public seed by roughly two months. Treating €37,326 as the post-money denominator would therefore overstate what the record proves.

The 2023 ABSA S documents likewise require careful language. The BSA Ratchet S attached to each issue may affect future economics if its conditions are met. The acts establish that the instruments were attached; they do not establish current exercise, conversion or the fully diluted ownership of any holder. The 6,293-share figure is a strong issued-share finding, not a forecast of control.

This is the same distinction visible in Gravis Robotics' registered Series A class, where the financing headline and the class-specific holder record answer different questions. ColibriTD's older register is useful because it names the prior institutional buyer and the founding denominator, not because it can substitute for the missing post-round filing.

What the new money may change, and what remains open

The public use-of-proceeds story is straightforward: ColibriTD wants to scale engineering, commercial partnerships and international reach around a quantum-powered simulation platform. The ownership story is more conditional. If the €4m was issued as new shares in COLIBRITD, the next filing should show the issue price, new share count, classes and subscribers. If it was raised through another vehicle or instrument, the French operating-company record may change later or not at all.

The new investor names also need a legal bridge. SymbiaVC and Medin VC are publicly identified participants, but no reviewed source gives their exact share or instrument allocations. Earlybird's lead role does not establish that it retained a particular percentage after the close. The pre-close 80.4% founding-line figure cannot be rolled forward by simple subtraction because the 2026 issue price and number of securities are unknown.

The commercial consequence is therefore a clear information advantage rather than a speculative ownership claim. Investors and employees can see that the lead investor has already underwritten most of a prior ABSA S issue, and that the founders' nominal block was still large before the new capital. They cannot yet see the price of the new risk, the dilution imposed on earlier holders, the treatment of the ratchet or the governance rights attached to the new round.

The next filing should close the bridge

The decision-changing evidence is a post-round RNE allotment, updated statutes, shareholder record or financing instrument naming the issuer and subscriber allocations. Such a filing would show whether the €4m was ordinary equity, a preferred class, a convertible or a package with warrants. It could also establish whether the founding lines remained above a meaningful voting threshold and whether Earlybird's repeat position expanded.

Until that bridge appears, the defensible finding is affirmative and bounded: ColibriTD's €4m seed is an Earlybird follow-on after a 2023 ABSA S issue in which Uni-X took 6,293 of 6,714 new shares, while the founding lines held 80.4% of issued shares on the last pre-close denominator. The record does not yet establish valuation, post-close ownership, current BSA exercise, fully diluted percentages or control.