Lausanne, 14 January 2019 – CYSEC raises 1.5 million Swiss francs to accelerate the international deployment of cyber security solutions and announces the arrival of a new member to its Board of Directors.
The award-winning start-up CYSEC announces a fundraising of CHF 1.5 million following the first round of funding and the arrival of Mr Gonpo Tsering, serial angel investor with global management experience and deep understanding of IT, on its Board of Directors.
Even though it was founded only in May 2018 by Patrick Trinkler, Yacine Felk PhD and Khaled Ouafi PhD, the highly-valued start-up managed to acquire various customers within a few months as it offers a unique package of hardware and software solutions based on proprietary technologies. CYSEC offers a solution hardware and software that is unique of its kind. Its solutions enable ultra-secure processing of any business applications as well as the storage, management and protection of sensitive data and digital assets. Its cyber security solutions can be deployed not only for ultra-safe application and data protection in general but also for blockchain based technologies.
CYSEC has already 13 highly experienced specialists for hardware based cyber security and future-proof cryptography, of which almost half hold PhD degrees mostly from EPFL and ETH. Spread over the EPFL Innovation Park in Lausanne and TrustSquare in Zurich, this investment will enable the development of additional solutions, strengthen its organisation and accelerate the implementation of its ambitious strategies.
After its data protection and processing platform has been successfully validated by significant uses cases in the financial markets and the IoT space in 2018, CYSEC aims to expand its “Swiss Quality and Engineering” internationally in sectors where the risks of cyberattacks are especially high and potentially damaging. It plans to quadruple its sales and access new markets both nationally and internationally by 2019.