Cybersecurity company UltraSoC has successfully closed a £5m equity funding round, in which cybersecurity-focused venture capital firm eCAPITAL, and Seraphim Capital, a specialist investor in the space ecosystem, joined existing UltraSoC investors Indaco Venture Partners, Octopus Ventures, Oxford Capital, Techgate, and business angel Guillaume d’Eyssautier.
UltraSoC will use the money to expand, recruiting hardware and software engineers at its headquarters in Cambridge, UK, and design centre in Bristol UK.
It also plans to open an engineering centre in Warsaw, Poland to develop its data science and machine-learning technologies; it will also expand its network of customer support engineers globally, and increase its commercial presence in key markets, including Europe, the USA, Japan and China.
The latest funding round, which was oversubscribed, follows a successful period of growth for UltraSoC with a strong list of new customers and a number of important technology developments. Willi Mannheims, Managing Partner at eCAPITAL, and James Bruegger, Managing Partner and Investment Director, Seraphim Capital join the UltraSoC board as investor director and observer respectively.
UltraSoC Chairman, Alberto Sangiovanni-Vincentelli, said: “Developers are struggling to cope with the need for trusted solutions for cybersecurity and functional safety. UltraSoC is uniquely able to provide such features at the fundamental hardware level. eCAPITAL and Seraphim add sector-specific focus and expertise in cybersecurity and in the aerospace ecosystem, where functional safety and reliability are paramount. I’m delighted to have secured their support alongside our existing major investors who have recommitted in this latest funding round.”