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PRIVACY
Tech

Cybersecurity firm secures £1m funding

The tech company will open a new base in Birmingham city centre and establish a R&D centre in the Midlands

From left: David Baker, investment associate at Mercia Technologies, with CyberOwl's chief executive Daniel Ng and chief technology officer Ken Woghiren

A cybersecurity firm is opening a new office in Birmingham city centre next month after securing a £1 million round of investment.

CyberOwl develops platforms which aim to safeguard critical infrastructure and smart transport systems from attack.

This new round of funding has been provided by 24 Haymarket, Mercia and part of the Midlands Engine Investment Fund.

The capital will allow CyberOwl to scale up the commercialisation of one of its products, create six jobs at its new base in Alpha Tower and establish a research and development centre in the Midlands.

The business, which is currently based in London, was founded in 2016 as a spinout from Coventry University.

It is led by chief executive Daniel Ng, chief technical officer Ken Woghiren and Siraj Shaikh, professor of security systems at Coventry University.

It launched its 'Medulla' product last year to provide early warning of potential cybersecurity breaches in connected industrial systems and works with defence, utilities and maritime organisations.

The company was chosen to be one of the first members of the London Office for Rapid Cybersecurity Advancement, a £13.5 million government initiative to position the º£½ÇÊÓÆµ as a global leader in the industry.