An €18 million fundraising to accelerate international development
On September 11, 2018, Cosmo Tech, the French pioneer in augmented intelligence, announced the success of its Series B funding. The financing, which was led by Inven Capital, raised €18 million from new and historical investors.
Inven Capital is an EUR 240 million smart energy fund, based in Prague, Czech Republic, backed by the European Investment Bank (“EIB”) and CEZ Group. Their structure allows them to invest from EUR 2 million up to EUR 30 million in European growth-stage startups, truly supporting the global ambitions of their investments. The EIB’s financial support is backed by the European Union through the European Fund for Strategic Investments (“EFSI”).
Cosmo Tech’s management has indicated that the funding operation will accelerate the growth of its technology on the European market, both in the strength of sales and future developments.
A fund focusing on smart green technologies bets on augmented intelligence
The lead investor, Inven Capital, was convinced by the maturity of the product and the potential of the technology developed by the French startup.
Cosmo Tech is a global tech company, which combines human and artificial intelligence, transforming the way that decision-makers in the energy, utilities, and mobility sectors optimize their asset management and operations strategies. Their unique capability in Augmented Intelligence allows the creation of unprecedented value, delivering interconnected insights that allow organizations to accurately model various complex scenarios, therefore providing management with the capacity to make the best decisions for their company.
The positioning of the startup allows it to add value well above the many specialists in pure big data and artificial intelligence.
Inven Capital’s Investments Director, Ivo Nĕmejc, is convinced that Cosmo Tech solutions will become the standard in a large number of verticals, including asset management, project planning, mobility, supply chain
An investor who supports founders of growth-stage startups for acceleration and internationalization
Inven Capital has taken a lot of time and effort supporting and attending cleantech and smart energy events throughout France and Europe over the last few years. Inven originally heard of Cosmotech around two years ago at one of these events and had been following their progress ever since. Mr. Němejc states that “We were initially attracted by their great founder team and their vision, and knew that they were capable of great things. Once their business and technology had matured sufficiently and entered a strong growth phase we were very pleased to be able to offer our support.”
The group wants French startups to consider Inven Capital as a strong partner, offering a founder-centric approach, that can offer valuable support for internationalization and growth.
New projects in perspective on the French market
During our discussion with Petr Míkovec, Managing Director at Inven Capital, he confirmed their vision of continued exploration and investment into the French market, increasing their presence and visibility in France.
Business France and Inven Capital will continue to work on future projects
Business France has helped Inven Capital to explore and connect with more French startups and become more involved
The reasons that convinced Inven Capital to invest in France
Asked about the reasons for their recent investments in France in particular, Mr. Míkovec noted that they have seen the French market really open up over the past two to three years. “The French investment environment has historically been extremely well catered for internally by French institutions and local funds. However, with global acceleration and local technologies increasingly needing to compete with global platforms we have seen innovative French companies with global ambitions starting to look outside of France for funding and support. Last year we invested in our first French company,