CYSEC raises CHF 4 million to further its growth in digital assets and edge computing
CYSEC, the data protection company, closed its seed extension financing round, led by Line Break Capital and supported by Indaco Venture Partners SGR, and raised CHF 4 million. The company welcomes new investors and partners, namely Indaco Ventures I Fund, Blockchain Valley Ventures, Boundary Holding, Horizon Capital, and 4see Ventures. CYSEC was a Venture Leader Fintech in 2018 and a Venture Leader Technology in 2021. The company was also among the TOP 100 Swiss Startups in 2020 and 2021. 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 CHF 7 million, 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.
“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 data security, CYSEC will also be opening new offices in Paris to reinforce its presence in Europe and advance its collaboration with the European Space Agency.