À propos
Equity fundraising of 400,000 € for Cosmyx, SAS specialising in manufacture of industrial 3D printers and automated micro-factories. Company founded in 2020, based in Épinay-sous-Sénart, with clients in defence (Armée de Terre, Rheinmetall), medical and aeronautical sectors. Revenue of 1.6 M€ in 2025, zero revenue declared in 2022-2024 according to financial statements.
Plateforme · 18.5/25
A1 · Statut réglementaire
8.0/8✓ max
- Licence agrément AMF AMF fonds propres-2023-28 valid and in force since November 2023
- Status verified via live data
A2 · Track Record
3.5/6
- Score adjusted based on live data: default rate 0.79% (6/6×0.5=3.0), delay >90 days 7.47% (4.5/6×0.3=0.45), actual versus announced return data not communicated (0/6×0.2=0)
- 126 mentions on CrowdRevolt document investor complaints regarding delays and guarantee execution
A3 · Rigueur de sélection
2.0/4
- Mention of a selection process without published selection rate or complete details
- Established platform (2014) and recognised with >850 projects funded
A4 · Santé financière
3.0/4bon
- Independent profitable platform, >10 years of existence (since 2014), documented capitalisation €200K, active institutional partnerships
- No PLATFORM distress signal identified despite portfolio concerns
A5 · Protection investisseurs
2.0/3
- Mandatory 4-day reflection period (licenced agrément AMF) plus legally required business continuity plan (1/3)
- Segregated accounts probable but not explicitly documented in provided data (0/3)
- No secondary market mentioned (0/3)
Projet · 25.0/75
(30.0 brut, red flags −5)
B1 · Instrument & Structure
4.0/10faible
B1.1: 1/5 - Ordinary shares/equity, risky instrument without fixed return
B1.2: 3/3 - Dedicated société dédiée (SPV) (Sicap SouvTech Cosmyx), distinct issuer, clear French law
B1.3: 0/2 - Explicitly subordinated rank in case of liquidation, no documented senior debt but equity at bottom of hierarchy
B2 · Opérateur & Track record
10.0/15
B2.1: 4/4 - Alain and Maryvonne Morelli named, functions specified, publicly identifiable
B2.2: 4/5 - 8 operations delivered between 2009-2023 (volumes 0.8-4.9M€, margins 12-20%), last delivered 2023 (Le Vivaldi 27 units)
B2.3: 0/3 - First operation on Les Entreprêteurs, no documented platform history
B2.4: 2/3 - No insolvency proceeding, healthy balance sheets (equity 175K€, debt 50K€), but weak capitalisation post-transition 2024
B3 · Garanties & Sûretés
0.0/15faible
B3.1: 0/9 - Explicit dossier statement: 'The project presents no guarantee(s)'. Equity instrument, no security
B3.2: 0/4 - No guarantor identified
B3.3: 0/2 - No banking partner mentioned
B4 · Structure financière
4.0/15faible
B4.1: 0/5 - Revenue nil in 2022-2024 (0€), no taux de couverture de la dette calculable, pre-revenue structural model
B4.2: 0/4 - Equity committed by operator: 0K€ explicitly declared
B4.3: 2/4 - Fundraising 1.3M€ already completed, dilution risk partially absorbed; Loan-to-Cost (ratio prêt/coût total) very low given equity
B4.4: 2/2 - Revenue 2025 of 1.6M€ confirmed (outside 2022-2024 table), SIMMT contract +100 units, solid institutional partnerships
B5 · Pré-commercialisation
6.0/10
- Active portfolio with major clients (Armée de Terre, Navy, Rheinmetall, Ottobock, Airbus Helicopters, Thales)
- SIMMT contract +100 printers documented
- Revenue 1.6M€ in 2025
- Correct sector diversification (defence, medical, aerospace)
- Portfolio data partially detailed
B6 · Permis & Maturité
5.0/5✓ max
- Activity established since 2020 (>2 years), valid legal structure SAS, active SIREN, registered head office
- JEI tax ruling in progress
- Legal documents in order
B7 · Marché & Localisation
1.0/3faible
- Adjusted score thanks to live data: French logistics/industrial market in 'wait-and-see', investment volumes -64% Q1 2026
- However Cosmyx mainly addresses defence/deeptech, not pure logistics - structural drivers (NATO rearmament, nearshoring, sovereignty) remain positive
- Secondary market uncertain at this stage
⚠ Alertes détectées · −5 pts déduits
Aucune garantie réelle sur ce projet
−5 pts
No guarantee whatsoever on equity fundraising of 400K€ - shares instrument without actual security or guarantee.
Points forts
SIMMT contract confirmed for +100 3D printers for the Armée de Terre.
Strategic clients of first rank: Rheinmetall, Airbus Helicopters, Thales, Ottobock.
Round 1.3M€ already closed with defence/deeptech-specialised business angels.
Revenue 1.6M€ in 2025 and positive net result (+10.5K€) in 2024 after years of losses.
Multiple barriers to entry: patent, military certification, proprietary OS, blockchain.
Risques identifiés
Equity instrument without guarantee, return not guaranteed, risk of total capital loss.
Revenue nil declared in 2022-2024 in the financial table, inconsistent with 2025 revenue of 1.6M€ - insufficient financial transparency.
Equity committed by operator: 0€ explicitly declared in dossier.
Extreme gearing: debt/equity ratio of 6.7 in 2024, very weak capitalisation (prior negative equity).
Very limited liquidity: unlisted shares, resale subject to strict AMF conditions, exit horizon undefined.
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⚠ Avertissement sur les risques
Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.