French deep tech firm Cosmian on Monday announced that it has raised €4.2 million ($4.4 million) in a venture funding round that brings the total raised by the company to €5.6 million ($5.9 million).
The new investment round was led by La Banque Postale – via its new 115K innovation fund – and previous investor Elaia Partners.
Founded in 2018, Cosmian provides privacy-by-default solutions that are easy to deploy and which can protect data, algorithms, and applications in the cloud. The French company’s platform keeps data encrypted even when in use, to ensure continuous protection.
Cosmian’s Secure Computation platform, tailored for IT teams, developers, and data engineers, is now available for free.
The French company has 20 employees at the moment, but plans to use the new funds to expand its team.
“Our offering is unique: we provide state-of-the-art advanced cryptography in the form of easy-to-use, decentralized developer tools. This new round of funding aims to increase our development capacity and to increase our traction in the market, with critical applications that are mostly deployed by unicorns,” Cosmian CEO and co-founder Sandrine Murcia said.