Safran takes stake in Krono-Safe, an innovative new critical software company
Paris, September 15, 2015
Safran announced today that it has acquired a capital stake in the company Krono-Safe, via Safran Corporate Ventures, its corporate venture capital subsidiary that focuses on new technology companies.
A spinoff of the French Atomic and Alternative Energies Commission, CEA
Krono-Safe develops software for real-time operating systems (RTOS) in an integrated development environment (IDE), to ensure equipment operating safety. It was founded in April 2011 to commercialize a software technology originally developed by the French Alternative Energies and Atomic Energy Commission (CEA), used in the nuclear sector to guarantee the predictability of critical real-time control applications. In particular, the company signed a technology transfer agreement with CEA-LIST (technology and systems integration lab) concerning this technology.
By adapting this solution to onboard applications, Krono-Safe is addressing safety-critical onboard system requirements in strong growth markets: transport (connected and autonomous vehicles), industry (Internet of Things) and aerospace (including defense and cyber-security).
Eric Dalbiès, Safran Vice President, Strategy and M&A, said: "We divide real-time onboard systems into three general categories: critical systems (flight and engine control, etc.), which demand real-time critical capabilities for very-high-level dependability; high-service-level systems (network management, equipment supervision) and less critical systems (health monitoring, onboard data analytics). Safran is not only investing in the development of our own technologies, but also, via Safran Corporate Ventures, in innovative startups in our business sectors. Innovation is a strategic focus that boosts Safran's competitiveness and allows us to develop new markets."
Second round: 3.9 million euros
Safran Corporate Ventures is contributing to some 3.9 million euros in funding raised for this new company, alongside various private venture capital investors, including CM-CIC Innovation, a new shareholder, and CEA Investissement (via the fund Amorçage Technologique Investissement) and Scientipôle Capital, stakeholders since early 2013. This second round of funding should enable the company to accelerate its technical development and sales & marketing efforts, especially in international markets.
"Krono-Safe developed a very original technology, identified by Sagem, a Safran company, that guarantees the safety and predictability of critical real-time applications, while also ensuring optimum performance, especially for the latest, highly complex platforms," explained Grégoire Aladjidi, Head of Safran Corporate Ventures. "Along with this capital investment, Sagem has signed a partnership agreement with Krono-Safe. This is the second transaction by Safran Corporate Ventures, after our stake in Tronic's Microsystems."
Safran Corporate Ventures is Safran's corporate venture capital (CVC) arm, created to invest in innovative startups. Founded in April 2015, it supports innovative new companies operating in Safran's business sectors (aerospace, defense and security), or from other industries employing technologies that could be applied in Safran's businesses.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 69,000 employees and generated sales of 15.4 billion euros in 2014. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 2 billion euros in 2014. Safran is listed on Euronext Paris and is part of the CAC40 index.
For more information, www.safran-group.com / Follow @SAFRAN on Twitter