THE COSMO COMPANY SUCCESSFULLY RAISES FUNDS
The CoSMo Company, a biotechnology company based in Lyon, specialized in complex systems modeling and simulation, has successfully completed its first fund-raising campaign. Total subscriptions amounted to €3.8 million, exceeding the initial objective.
This operation was carried out with a selection of corporate and financial funds including, in particular, Aster Capital and Emergence Innovation 1 managed by Sofimac Partners accompanied by Crédit Agricole Création, its partner. Investors welcomed the uniqueness of The Cosmo Company’s product line, which introduces to the market a simulation platform developed from more than 10 years of academic research, and its prospects for fast growth in a world market.
“This financing provides us the necessary resources to intensify our commercial rollout in Europe and North America,” stated Michel Morvan. To boost its development in North America, the company has just opened a subsidiary in San Francisco.
The CoSMo Company is one of the eight leading French companies selected to participate in Ubi i/o, the new startup acceleration program sponsored by Ubifrance and Bpifrance. CoSMo will participate in the first 10-week program in the Silicon Valley starting May 2014.
The CoSMo Company is a Lyon-based start-up that benefited from assistance from Aderly to set up in 2010. The company, winner of the Oséo Émergence and Création développement competition, joined the Oséo Excellence network and has been labeled by Novacité and Réseau entreprendre Rhône Alpes. Winner of the Novad’Or 2012, CoSMo was labeled Pépite du Grand Lyon in 2012, an initiative of Greater Lyon and the Lyon Chamber of Commerce and Industry.