A company offering an innovative cyber security solution for small-scale networks is looking to expand with the help of an investment from the Enterprise M3 Growth Fund.
The £150,000 investment is part of a larger funding round that will see RazorSecure establish itself within the transport sector, targeting in-travel infotainment systems within aeroplanes, cars and trains.
The software’s small footprint means it is suitable for small systems without it affecting the operation of the underlying device, making it perfect for in-flight entertainment that is unconnected to a large network. Furthermore, it is unique in the fact that it can detect a hack and close down the relevant system in under a minute, leaving a hacker no time to search for valuable data.
Alex Cowan, CEO and CTO at Razorsecure says: “with hacks becoming more sophisticated, and systems more interconnected, it may be possible for a hacker to access a plane’s controls via vulnerabilities in the entertainment system, or a ship’s navigation system via the GPS signal. With driverless cars on the horizon, this particular threat will also affect the automotive industry. Our protected IP is ground-breaking in the speed at which it can identify a threat and take action to stop it, increasing the overall security of transport networks.”
Following an introduction from SETsquared, the funding round was originated by The FSE Group, which manages the Enterprise M3 Growth Fund on behalf of Enterprise M3 Local Enterprise Partnership and led by Breed Reply, the Internet of Things investor and advanced incubator.
Ralph Singleton, fund manager at The FSE Group comments: “We are delighted to have facilitated this deal that sees RazorSecure acquire the funding needed to take it to its next stage of growth. The company founders have identified a gap in the IT security market that they have been able to fill with their innovative IP. We look forward to working with Alex and the team to ensure that the company takes advantage of the opportunities available to truly reach its potential.”
The Enterprise M3 Growth Fund is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an expansion loan fund, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.
For more information about the Enterprise M3 Growth Fund please visit http://www.thefsegroup.com/fund/enterprise-m3-growth-fund/ or contact Ralph Singleton at tel: 01276 607307.
For more information about RazorSecure visit www.razorsecure.com.