French MoD-Supported Cybersecurity Start-Up Receives 6 Million Funding
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A French MoD-supported cybersecurity start-up, GLIMPS has received a €6 million funding from ACE Capital Partners with the support of Breizh Up, the co-investment fund from France’s Brittany Region.
Created in 2019, GLIMPS has developed technology to detect a cyberattack in record time for both civilian and military customers.
Founded by four former engineers from the General Directorate of Armaments (DGA), GLIMPS is the first company to have joined the Cyberdéfense Factory, a collaborative space set up by the DGA and the Cyberdefense Command (COMCYBER).
GLIMPS uses Artificial Intelligence (AI) technologies to detect, characterize and analyze new threats in real time, while existing solutions often require several months of work. GLIMPS has already marketed two products in 2020.
With the fundraising it has just carried out with ACE Capital and Breizh Up, GLIMPS plans to enter a new phase of its development with new versions of its technology and establishing offices in North America.
DGA’s Cyberdéfense Factory is open to French companies specializing in cyber defense and carrying innovative projects of defense interest. The teams of selected projects are hosted for six months, with the possibility of extending the partnership to 12 months.
During its inauguration in October 2019, a partnership agreement was signed between the Minister of the Armed Forces and ACE Management company. Called Brienne III, a fund of €80 million aimed to accelerate the financing of companies with high potential in the field of cybersecurity, to bring out new players and consolidate existing ones to project them internationally. Four companies including GLIMPS have benefited.