The New Stack Makers

DETROIT — Even in the midst of hand-wringing at KubeCon + CloudNativeCon North America about how the global economy will make it tough for startups to gain support in the near future, the news about a couple of young WebAssembly-centric companies was bright. Cosmonic announced that it had raised $8.5 million in a seed round led by Vertex Ventures. And Fermyon Technologies unveiled both funding and product news: a $20 million A Series led by Insight Partners (which also owns The New Stack) and the launch of Fermyon Cloud, a hosted platform for running WebAssembly (Wasm) microservices. Both Cosmonic and Fermyon were founded in 2021. “A lot of people think that Wasm is this maybe up and coming thing, or it's just totally new thing that's out there in the future,” noted Bailey Hayes, a director at Cosmonic, in this episode of The New Stack Makers podcast. But the future is already here, she said: “It's one of technology's best kept secrets, because you're using it today, all over. And many of the applications tha