By developing state-of-the-art encryption methods, in particular to secure algorithms and databases, the start-up Cosmian raised € 4.2 million in the start-up phase, involving 115,000 foundations from Elaia Partners and the La Banque Postale Group. It is planned to hire almost 80 employees by 2023.
Cosmian, co-founded in 2018 by Raphaël Auphan, Bruno Grieder and Sandrine Murciat, offers an original encryption solution. Designed for developers and data engineers, it combines algorithms developed in collaboration with Ecole Normale Supérieure with “secure enclaves” based on computing servers using the SGX (Software Protection Extension) instruction set for Intel processors. “Our encryption methods protect sensitive data, both algorithms and databases,” explained Sandrine Murcia, CEO of Cosmian.
Following a first round (initial phase) of € 1.4 million in March 2019, the French start-up again attracted investors, this time injecting € 4.2 million. The breakdown is as follows: EUR 2 million from the new fund of EUR 115 000 set up by La Banque Postale, EUR 2 million from Elaia Partners, which had already participated in the previous round, and EUR 200 000 from business angels, who were also in the first upswing. .
Customers in Germany and England
Following this abolition, Cosmian will accelerate recruitment, increasing from 20 current employees in 2023 to one hundred in both the developer and commercial profiles. The start-up, which has also just launched its Secure Computation platform, has a wide range of customers in the banking and financial technology, health, industrial, defense and services sectors. “All our research and development takes place in France, but as we respond to projects in England and Germany, we’ll see how it starts before we start working there,” says Sandrine Murcia.
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