Information on the target
In March 2023, New York Angels (NYA) members participated in a significant investment round for Omniply, a pioneering company in the flexible electronics sector. Omniply specializes in the development of thin-film electronic devices, including sensors, displays, and memory, utilizing innovative technology on flexible substrates. This approach is poised to revolutionize the manufacturing of flexible displays, applicable to a wide range of devices from smartphones to large television screens.
Additionally, NYA members invested in Cynomi, a company that integrates proprietary AI algorithms to provide a comprehensive virtual Chief Information Security Officer (vCISO) operations dashboard. This platform is designed to assist small and medium-sized businesses (SMBs) in assessing their cybersecurity posture and mitigating risks effectively. The leadership of Cynomi, particularly CEO David Primor, has been instrumental in defining a substantial target market that requires moderate support in the vCISO space.
Industry overview in the target’s specific country
The flexible electronics industry is experiencing rapid growth, driven by advancements in technology and increasing demand for lightweight, portable devices. In the United States, this sector is supported by a robust ecosystem of research institutions and technology companies, fostering innovation and collaboration. The market is characterized by a few dominant players, which presents both challenges and opportunities for emerging companies like Omniply.
On the other hand, the cybersecurity landscape is evolving at an unprecedented pace, particularly in response to the growing threat of cyberattacks targeting SMBs. As digital transformation accelerates, the need for effective cybersecurity solutions has become paramount. The U.S. market is witnessing a surge in demand for virtual CISO services, as organizations seek to bolster their defenses without the overhead of a full-time executive.
Furthermore, the investment climate in the U.S. remains favorable, with angel investors increasingly willing to support innovative startups. The recent turmoil in the banking sector, particularly the collapse of Silicon Valley Bank, has prompted investors to reassess their portfolios and focus on companies with strong fundamentals and growth potential. This shift is likely to benefit companies like Omniply and Cynomi, which are well-positioned to capitalize on emerging trends.
The rationale behind the deal The investments in Omniply and Cynomi reflect a strategic alignment with NYA's mission to support innovative companies that address significant market needs. Omniply's technology offers a transformative approach t…