UltraSoC today announced plans to substantially grow its worldwide operations to address emerging opportunities in the cybersecurity, high-reliability and safety-critical systems markets. This latest expansion follows the successful closing of a £5m equity funding round, in which cybersecurity-focused venture capital firm eCAPITAL, and Seraphim Capital, a specialist investor in the space ecosystem, joined existing UltraSoC investors Indaco Venture Partners, Octopus Ventures, Oxford Capital, Techgate, and business angel Guillaume d’Eyssautier.
As part of its planned expansion, UltraSoC will be recruiting hardware and software engineers at its headquarters in Cambridge, UK, and design center in Bristol UK. It also plans to open an engineering center in Warsaw, Poland to develop its data science and machine-learning technologies; it will also expand its network of customer support engineers globally, and increase its commercial presence in key markets, including Europe, the USA, Japan and China.
The latest funding round, which was substantially oversubscribed, follows a successful period of growth for UltraSoC with a strong list of new customers and a number of important technology developments. Willi Mannheims, Managing Partner at eCAPITAL, and James Bruegger, Managing Partner and Investment Director, Seraphim Capital join the UltraSoC board as investor director and observer respectively.
UltraSoC Chairman, Alberto Sangiovanni-Vincentelli, commented: “Developers are struggling to cope with the need for trusted solutions for cybersecurity and functional safety. UltraSoC is uniquely able to provide such features at the fundamental hardware level. eCAPITAL and Seraphim add sector-specific focus and expertise in cybersecurity and in the aerospace ecosystem, where functional safety and reliability are paramount. I’m delighted to have secured their support alongside our existing major investors who have recommitted in this latest funding round.”
UltraSoC CEO Rupert Baines said: “UltraSoC is already established as the solution of choice for semiconductor companies who need to understand how their system-on-chip (SoC) products are behaving – yielding dramatically reduced development and debug costs and faster time to market. But those same customers – and investors – are now recognizing the strategic potential for our technology in implementing functional safety and cybersecurity features. This funding round will enable us to grasp that opportunity, which I believe we are uniquely equipped to address.”
eCAPITAL is one of the leading venture capital investors in Germany and has been actively supporting leading technology innovators since 1999. Speaking on behalf of the company, Willi Mannheims commented: “We are excited to join forces with UltraSoC, which is leading the way in embedded analytics. UltraSoC has developed a novel approach to cybersecurity that places anomaly detection directly into the silicon, enabling hardware-based threat detection. This can identify attacks very quickly – in microseconds rather than milliseconds. It is also more robust than traditional techniques, because it is ‘below the OS’ and is therefore very hard for an attacker to detect, circumvent or subvert.”
Seraphim’s James Bruegger added: “Seraphim focuses on the space ecosystem: we are always looking for fundamental technologies that can affect how the industry works, and create value. Anything that affects safety and security is therefore highly relevant and we immediately saw the opportunity for UltraSoC’s capabilities. This will benefit not just space, but automotive, industrial, medical – indeed, almost any area of technology.”
Within the last year, UltraSoC has made significant progress in terms of customer acquisition, technology development and further strengthening its already impressive team. Early in 2019, it disclosed that data storage world leader Seagate has licensed its technology: and that in the same market sector, it is supporting Western Digital’s SweRV processor architecture. Other recently announced customers include Alibaba company C-SKY, Esperanto, Kraftway and Microchip. It has also substantially developed its core technology, expanding the capabilities of its architecture to address the needs of high-performance computing and exascale systems, announcing a targeted solution automotive lockstep applications, building a stronger ecosystem for heterogeneous designs and the RISC-V open source architecture, and significantly extending its patent portfolio.
About eCAPITAL entrepreneurial Partners AG
eCAPITAL AG, based in Münster, is a capital management company for alternative investment funds (AIF) in accordance with the EuVECA Regulation. The company is one of the leading venture capital investors in Germany and has been actively supporting innovative entrepreneurs in promising sectors since 1999. The focus is on fast-growing companies in the software / IT, industry 4.0, cleantech and new materials segments. eCAPITAL currently manages funds with a subscription capital of more than 220 million euros.
To learn more visit: www.ecapital.de
About Seraphim Capital
Seraphim Capital is the world’s leading space-venture firm. Its Seraphim Space Fund is funded by multinational corporations including Airbus, SES, Telespazio, E2V Teledyne and Rolta. Seraphim also operates a Space Camp Accelerator backed by Inmarsat, Rolls Royce, Cyient, KSAT, Eutelsat, AeroVironment and DSTL, along with the UK and European Space Agencies. Seraphim’s Managing Partners include Silicon Valley based Michael Jones (founder of Google Earth) and New York based Matt O’Connell (co-founder of GeoEye and ex-CEO of One Web). Alongside Space Tech Angels, Seraphim has built a portfolio of over 40 spacetech and dronetech startups.
Find out more at: www.seraphimcapital.co.uk
About Indaco Partners
Founded in 2016, Indaco Venture Partners SGR is the largest independent Italian venture capital asset management company, with a strong specialization in companies that innovate in electronics and robotics, medtech, digital and new materials. Indaco manages over €250 million across its five funds. Investments in Indaco Ventures Fund I are focused on growth-stage companies whose competitive advantage stems from cutting-edge proprietary technologies and innovations. In terms of teams and technologies, the focus is on Italian enterprises, although investments are made throughout Europe, USA, Canada and Israel.
Find out more at: https://www.indacosgr.com/
About Octopus Ventures
Octopus Ventures is one of Europe’s largest funds, with £1.2 billion under management. Its purpose is to help pioneers who are changing the world by shaping the future of health, money and industry.
The team is based in London and New York with Venture Partners in San Francisco, Singapore and China, to help portfolio companies scale in those markets. A typical investment is £1 million for Seed to around £5 million for Series A, with follow-on investments up to £25 million.
Octopus Ventures has backed over 100 entrepreneurs and their teams. These include Zoopla Property Group, Big Health, Glofox, Elvie, Depop, Slamcore, Third Eye, Waveoptics, ByMiles, Bought By Many, Calastone, Swiftkey, Magic Pony, Secret Escapes, graze.com and tails.com. Find out more at www.octopusventures.com
About Oxford Capital
Oxford Capital has been making venture capital investments since 1999. Our London-based ventures team has more than 70 years of combined experience, gained at leading investors including Qualcomm, HG Capital, DN Capital, Draper Esprit and Arma Partners.
We invest in early-stage businesses and we want to back entrepreneurs who are trying to solve big problems in innovative ways. We aim to invest in sectors where the UK has the potential to lead the world. Current areas of interest include Software-as-a-Service, marketplaces, mobility, gaming, fintech, digital health, machine learning and artificial intelligence. Find out more at www.oxcp.com