French encryption specialist Cosmian raises 4.2 million euros

Cosmian, a start-up that develops software to exploit encrypted data, raises 4.2 million euros. The French deep tech announced this fundraising on June 20, 2022. It was carried out with 115K, the new fund from Banque Postale, and Elaia Partners. With this financial contribution, Cosmian wishes to accelerate the marketing of its first products and continue its investments in R&D.

Secure data in the cloud

The start-up was founded in July 2018 by Sandrine Murcia and Bruno Grieder. They therefore wish to develop solutions allowing the use of data while protecting it. The co-founders quickly turned to David Pointcheval: an expert in cryptography who carried out research at the Ecole Normale Supérieure (ENS) and the National Center for Scientific Research (CNRS) on technologies allowing the use of encrypted data. , which are kept encrypted during the calculation, and to have the result in plain text.

“Today, like the web which has evolved from http to https, there is no longer any reason for data not to be systematically encrypted and therefore better protected.assures Bruno Grieder, technical director and co-founder of Cosmian, in a press release. Additionally, with the cloud becoming the infrastructure of choice for mission-critical applications for corporations and new economy unicorns, the demand for security and privacy is greater than ever. The objective is clear: that the cloud does not learn anything, neither from the data nor from its use.”

Securing Algorithms

Cosmian has developed several software. CipherCompute is a collaborative computing solution with different entities without the entities needing to reveal their data. Concretely, this software makes it possible to carry out calculations with data coming from several subsidiaries while keeping them protected.

The other software, ZeroTrust, can be used for companies that want to protect their data in the cloud and make sure that the cloud provider, and any malicious person, cannot access it. If third parties cannot access this data in clear, the company can use it itself. On this last subject, Cosmian also worked with Intel to find a solution to protect algorithms while being able to use them.

“Our ubiquitous encryption solutions have been validated with our first customers in the financial services, healthcare, energy and defense sectors.assures Sandrine Murcia, CEO and co-founder of Cosmian. Our offer is unique: we offer the state of the art in advanced cryptography in the form of developer tools, easy to use, in decentralized mode.” The start-up, which has around twenty employees, has also launched the public platform Secure Computation, which brings together the use cases mentioned above.

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French encryption specialist Cosmian raises 4.2 million euros

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