Maven invests £1.5m in BlueskyTec to accelerate hardware-based cybersecurity to enable critical infrastructure
Maven Capital Partners invested £1.5 million in cybersecurity hardware expert Blueskytec through the Nouts West Investment Fund of the UK Commercial Bank.
BlueskyTec develops advanced, hardware-based network protection, designed for mission-critical systems in sectors such as defense, civilian nuclear and energy. Its patented technology provides a unique layer of security, which the company says is unavailable only by traditional software solutions and has been deployed by industrial and government customers in the UK and the US.
This funding will support Blueskytec’s expansion as it moves towards full deployment along with leading industrial partners. The company plans to recruit more employees, improve manufacturing capabilities and expand its business development activities.
The investment is under increasing regulatory pressure to increase cyber resilience in key national infrastructure and the rising threat of complex cyber attackers. Operational technology – systems that control industrial processes – are usually outside the scope of traditional IT security measures. BlueskyTec’s solutions are designed to integrate with existing infrastructure while addressing these specific vulnerabilities.
“BlueskyTec has developed a cybersecurity solution that addresses key gaps in the market, especially for infrastructure and operational technology systems. Given the rapidly expanding power and regulation of the threat landscape, network assurance can be enhanced, which is a solutionable and growing solution for the company’s solutions.”
Blueskytec CEO Chris Mobley said Maven “clearly sees the full potential of its technology”.
He added: “We look forward to a strong partnership as we move into the next phase of our exciting journey.”
Lizzy Upton, senior investment manager at Commercial Bank of England, said: “Cyber resilience is critical to businesses and organizations in all sectors. BlueskyTec is at the forefront of developing the next-generation hardware security designed to protect sensitive infrastructure, and we are pleased that the Southwest Investment Fund can support its growth ambitious.”
The Southwest Investment Fund aims to drive economic growth in the region by supporting innovative businesses. It offers commercial financing ranging from £25,000 to £100,000 for smaller loans, debt financing from £100,000 to £2 million, and equity investments up to £5 million.
