Sitehop, a Sheffield-based cybersecurity startup, raised £7.5 million led by Northern Gritstone to accelerate the development of its hardware-focused quantum-resilient encryption solutions.

Information on the Target

Sitehop, a Sheffield-based startup, is developing cutting-edge UK sovereign encryption to safeguard networks against the emerging threats posed by quantum-powered cyber attacks. Recently, the company successfully raised an additional £7.5 million in funding, led by Northern Gritstone, a prominent deeptech investor in Northern England, bringing its total capital raised to £13.5 million. Other investors, including Amadeus Capital Partners, Manta Ray, Mercia Ventures, and NPIF – Mercia Equity Finance, have also participated in this investment round.

Sitehop's innovative SAFEseries™ system addresses significant challenges in current encryption methods. By utilizing hardware for encryption rather than traditional software, Sitehop offers ultra-low latency and quantum-resilient security. This advancement allows sectors such as telecommunications, financial services, and critical infrastructure to protect their data more efficiently, achieving this with only a fraction of the energy consumption of conventional systems. Sitehop's technology has already demonstrated high-speed encryption capabilities while maintaining performance, even under demanding network conditions.

Industry Overview in the Target’s Specific Country

The cybersecurity landscape in the UK is undergoing significant transformation, driven by an increase in both the frequency and sophistication of cyberattacks. Traditional encryption methods, primarily reliant on software solutions,