eShard

eShard builds testing tools that answer a question most application security scanners never touch: can this chip, embedded device, or mobile app be broken by someone with physical or low-level access to it? Its esDynamic platform performs side-channel analysis and fault-injection testing against integrated circuits, alongside binary code analysis, vulnerability research, and mobile app security testing, giving semiconductor makers, device manufacturers, and testing labs a way to validate resistance to physical and embedded attacks before products ship.

Founded in 2015 in Bordeaux, France, by Hugues Thiebeauld and Georges Gagnerot, eShard grew out of a team of specialists in physical attacks on integrated circuits and has since added offices in Marseille and Singapore. The company reports around 48 employees and roughly $5.3 million in 2025 revenue, and serves customers across semiconductor, automotive, government, defense, healthcare, and energy sectors. eShard also operates a joint application laboratory with ALPhANOV for laser fault-injection testing, and has sold portions of its patent portfolio to Secure-IC.

Hardware and embedded security testing is a narrow, technically demanding niche with few dedicated vendors, and eShard’s decade of focus on physical-attack resistance for chips and embedded software gives it real specialist credibility, even though its overall market visibility remains small relative to mainstream application security testing vendors.