Only a couple months after announcing strategic partnerships with Schneider Electric and Alstom, French Tech Hub customer Cosmo Tech recently closed a $3M fundind round.
Returning investor Sofimac Partner led this round, that included participation from BNP Paribas and Aster Capital. Since its creation in 2010, Cosmo Tech has now raised $8.2M.
Cosmo Tech offers decision management solutions. It has developed a simulation tool that facilitates executive decision making, regardless of the sector. The technology aims at helping CEOs anticipate the consequences of their decisions, leading to better outcomes. This new funding is part of the company’s plan to accelerate growth across industries, and to expand globally.
“The potential to take the interest and success we’ve found in Europe to the global market is enormous,” said Hugues de Bantel, co-founder and CEO of Cosmo Tech. “From planning for epidemics to optimizing a smart city, executives in every field can augment their own intelligence, and in doing so, gain a new level of understanding into the impact their decisions will have throughout the business.”
As part of today’s announcement, Cosmo Tech also unveiled a new brand and name. Cosmo Tech started in France in 2010 as The CoSMo Company, raising a $5.2M Series A round in 2014 from Aster Capital, Sofimac Partners and Crédit Agricole. Since this Series A round, the company has doubled its revenue each year, year-over-year. Its client portfolio includes global leaders in several industries (Veolia, GE, Total, Sanofi Pasteur) and it has earned several awards in France and in the U.S.