CYSEC strengthens its equity base and finances its growth with the support of Karista’s NewSpace fund
CYSEC announces it has raised an additional €2m from Karista. The bulk of these funds will be invested in NewSpace and in the deployment of cybersecurity solutions in the space industry. The company also plans to bolster its sales and to recruit new talents. This new fundraising is additional to the €6.7m raised in recent years.
Lausanne, 26 October 2022 - CYSEC, a European company specialized in data protection, in particular confidential computing, announces it has raised €2m with the support of Karista. This additional funding is earmarked to spur the company’s growth on the NewSpace market, where it already has a large footprint. CYSEC also intends to reinforce its sales teams inFrance and to recruit new engineers and sales professionals.
“In the current geopolitical context, marred by cyber belligerence, companies and nations have made a priority of 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 in the edge”, stated Yacine Felk, COO and co-founder of CYSEC. “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.
In this fast-growing market, one of CYSEC’s strengths 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 obtained 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 pleased to take new technologies drawing on cloud computing onboard their satellites. CYSEC is well-versed in this environment to which its security products are perfectly adapted. An early version of CYSEC’s edge computing was embedded on board a SpaceX rocket in January 2022 to be tested in true space conditions.
“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,” declared Karista Investment Director Michael Thomas and ManagingPartner Yvan-Michel Ehkirch.