Ibadan, 27 October, 2022. – CYSEC, a European company specializing in data protection, in particular confidential computing, announced raising €2m with the support of Karista. The company has earmarked the additional funding to spur its growth in the NewSpace market, where it already has a large footprint. CYSEC also intends to reinforce its sales teams in France and recruit new engineers and sales professionals.
According to the company, one of its strengths in the fast-growing market lies in its various partnerships with key industry actors, starting with the European Space Agency (ESA), which has supported the company in several strategic projects since 2020.
In parallel, since 2019, CYSEC has built a client base and honed expertise unrivaled in Europe for the protection of data it obtains through NewSpace missions. These require a more modern approach than traditional space missions, which fits perfectly with CYSEC’s corporate philosophy – to combine cybersecurity and performance. NewSpace commercial operators are glad to take new technologies drawing on cloud computing on board their satellites. CYSEC is familiar with this environment to which its security products have enjoyed perfect adaptation. The company embedded the early version of its edge computing onboard a SpaceX rocket in January 2022 to test it in true space conditions.
Speaking on the fund, Yacine Felk, COO and co-founder of CYSEC, stated, “in the current geopolitical context, marred by cyber belligerence, companies and nations have prioritized protecting satellites and space-based data. Our ARCA Trusted OS solution makes it possible to secure these critical infrastructures’ sensitive data, both on land and on the edge.” “Karista’s support will help us develop our offers and spatial cybersecurity services, as well as reinforce our strategic partnerships in France and Europe. We are happy to have such investors,” he added.
Speaking on supporting CYSEC, Karista Investment Director Michael Thomas and Managing Partner Yvan-Michel Ehkirch said, “NewSpace has grown at a brisk pace in recent years. It has become absolutely essential to protect sensitive data in space in a context of increasingly varied and rapidly evolving threats. Companies and institutions alike face major security and sovereignty challenges. We are pleased to support CYSEC in deploying its products, which are designed to meet this challenge.”
The data protection company will be organizing its third CYSAT conference in April 2023. The conference aims at bringing together the space and IT security communities to build a European ecosystem capable of responding to the current and future challenges faced by the European space industry. Interested persons can register for CYSAT here.
