CYSEC raises four million Swiss francs in seed extension round to further its growth in digital assets and edge computing. Driven by a growing demand, the Swiss cybersecurity startup is set to reinforce its presence in Europe.
CYSEC, the data protection company, closed its seed extension financing round led by Line Break Capital and supported by Indaco Venture Partners SGR, with a fundraising of four million Swiss francs. The company welcomes new investors and partners, namely Indaco Ventures I Fund, Blockchain Valley Ventures, Boundary Holding, Horizon Capital, and 4see Ventures.
CYSEC develops ARCA, a hardware-based trusted execution environment (TEE) securing sensitive data and workloads with a full stack protection – from hardware, to kernel, to application, on premise, on the cloud and on the edge.
This additional investment, which brings the total company funding to seven million Swiss francs, will support the growth of CYSEC in its target markets, namely Digital Assets/DeFi and Edge Computing — including Space — that are facing an exponentially growing amount of data in use, requiring protection for sensitive data.
Protecting digital assets
“Digital assets are quickly becoming a strategic imperative, and CYSEC ARCA creates the necessary virtual sovereignty for sensitive data,” said Patrick Trinkler, CEO and co-founder of CYSEC. “We are glad to add Indaco to our investors. With their support, we can bring our state-of-the-art security solution to the market to allow businesses to innovate faster, without compromising data and code security”, added Trinkler
“We are very happy to welcome on board prominent new investors and partners. This influx of smart money will allow CYSEC to access new opportunities and reach new markets”, said Patrick Nicolet, Founder and Managing Partner, Line Break Capital, which also participated at the seed round of investment
“With edge computing becoming mainstream and governance of high sensitive data raising as top challenge for businesses, CYSEC is in a key position to unlock untapped potential in new market segments and enable new value creation opportunities for enterprises. As Indaco, we are delighted to partner with CYSEC’s team on their growth journey.” said Cosimo Calcagno, Investment Manager, Indaco.
In 2022, to further strengthen its ambitions in the field of data security CYSEC will also be opening new offices in Paris, in order to reinforce its presence in Europe and advance its collaboration with the European Space Agency.
(Press release / ES)
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