Cybersecurity company Secure-IC raises €20 million

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Secure-IC, a provider of end-to-end cybersecurity solutions for embedded systems and connected objects has announced that it has raised 20m euros.

It is the first time that the company has raised funds this way and the round was led by Alliance Entreprendre with the support of GO Capital and BNP Paribas Développement.

Secure-IC said that it plans to use the new funding to accelerate its organic growth worldwide, support an ambitious recruitment plan and carry out external growth operations to implement its "Chip to Cloud" vision.

Set up in 2010, Secure-IC has a strong international presence with customers in 20 countries, across 5 continents, and employs more than 100 people. Research and development is one of the major pillars of this growth, with over 200 international patents filed and 250 scientific articles published.

Secure-IC provides patented protection technologies that are embedded into electronic chips for smartphones, computers, automobiles, smart meters, cloud servers and more.

This new funding will help Secure-IC accelerate the implementation of its "chip to cloud" vision, which looks beyond the physical security of electronic chips. Secure-IC is looking to cover the entire security lifecycle of connected objects and embedded systems, from their design through the management of fleets of deployed devices up to their decommissioning.

"After 10 years of organic growth and controlled profits, we are proud to conclude this first capital raising which will allow us to reach an important milestone. From being a recognised player in the cybersecurity of embedded systems and connected objects, Secure-IC's ambition is to become the global leader in a market segment that includes more than 10 billion connected devices worldwide," said Hassan Triqui, CEO of Secure-IC.