Cosmo Tech, the software company whose suite of decision management solutions based on Augmented Intelligence remains unique in the world, today announced the successful closing of a $21 million Series B financing round. This latest round of financing was led by Inven Capital and included new investments from Cemag Invest, and C. Entrepreneurs, joining historical investors Aster, Sofimac Innovation, Credit Agricole Creation, Total Energy Ventures, and BNP Paribas Developpement.
This new round will enable Cosmo Tech to invest in human capital, accelerate the go-to-market for its software solutions, and enhance its international growth through selected partners, with a strong focus on Europe.
Cosmo Tech’s focus will center on winning new customers for its software solutions. The company offers a suite of products delivering optimized asset management and operations solutions for critical infrastructure. Among its users are some of France’s largest companies, including RTE, Alstom, and Nexans. The company plans to build on this success at the European level as well as leverage the Cosmo Tech Augmented Intelligence Platform, the common foundation on which each solution is built, through partners who will build their own solutions directly.
“Cosmo Tech’s capacity to unlock the value trapped in complex industrial systems is unique,” explains Ivo Nĕmejc, Investment Director at Inven Capital. “We firmly believe that Cosmo Tech’s solutions will quickly emerge as standards in asset management, project planning, and mobility, and that their Augmented Intelligence software platform will prove popular and valuable to development partners in Europe and beyond.”
Cosmo Tech will invest in its human capital to ensure it delivers on its product-centered growth strategy. Replicating its software solutions for asset management and critical infrastructure across Europe will be the focus for the entire Cosmo Tech team, with early successes in France, the United Kingdom, Switzerland, and the Benelux region set to be capitalised on quickly. Direct sales channels will be complemented by alliances and partnerships with selected consulting groups, independent software vendors, and strategic integrators.
“With this new financing we will further accelerate our revenue growth supported by our enthusiastic early adopters in Europe and selected number of partners” says Hugues de Bantel, co-founder and CEO of Cosmo Tech. “I am grateful for the trust that our clients, partners and our new and existing investors have placed in my co-founder Michel Morvan, myself, and the whole Cosmo Tech team. I look forward to creating tremendous value for them as we continue to lead in the provision of Augmented Intelligence solutions for Europe’s critical infrastructure sector.”
Cosmo Tech’s solutions elevate investments in big data and data science to decision management and Augmented Intelligence, which together allow the creation of unprecedented value by combining human and artificial intelligence.
“Our software is directly responding to the multi-billion-dollar strategic questions that emerge in the most complex industrial systems,” says Michel Morvan, co-founder and Executive Chairman of Cosmo Tech. “Descriptive and predictive analytics have already helped companies generate strong returns on investment, but Cosmo Tech’s solutions allow them to go beyond what is now standard practice. Augmented Intelligence, the combination of human and artificial intelligence, is the new frontier of simulation-based predictive analytics and is set to revolutionize the way the biggest decisions are made.”
Cosmo Tech is a global software company that helps senior management and the C-suite make optimal decisions. Through the use of proprietary methodology and technology, clients can model and simulate complex scenarios to accurately predict the outcome of events across multiple business silos even if those events have never happened before. This unique capability to deliver interconnected insights allow organizations to accurately model various complex scenarios, therefore providing management with the capacity to make the best decisions for their company. Cosmo Tech’s solutions elevate investments in big data and data science to decision management and Augmented Intelligence, which together allow the creation of unprecedented value by combining human and artificial intelligence. Cosmo Tech is truly transforming the way that decision makers in the energy, utilities, and mobility sectors optimize their asset management and operations strategies.
Inven Capital is a venture capital fund, with committed capital from CEZ Group and the European Investment Bank (“EIB”). The EIB’s financial support is backed by the European Union through the European Fund for Strategic Investments (“EFSI”). The strategy of Inven Capital is to identify opportunities for investing in innovative and growing clean energy and smart technology companies in Europe. It focuses primarily on growth investment opportunities in the later stage with a business model proven by realized earnings and with long-term growth potential. Companies in the portfolio of Inven Capital can take advantage of CEZ Group’s extensive expert knowledge, client base, and technology synergies for their further development. The portfolio of Inven Capital includes some of the most innovative clean-tech companies, such as sonnen, Sunfire, tado°, Cloud & Heat and Vulog.
Cemag Invest is a France based family office. Cemag Invest takes minority shareholdings in French companies with an international scope. Its is active in the fields of healthcare, B to B services and technology.
Managed by Cathay Innovation and funded by BNP Paribas Cardif, C. Entrepreneurs supports early stage startups from all countries that develop technologies and services that are reshaping the banking and insurance world. C. Entrepreneurs will help Cosmo Tech accelerate its strategy by focusing on business development and product design, as well as attracting talented individuals to join Cosmo Tech’s team.