DataKrypto secures a €3 million investment from P101 SGR and the Cysero EuVECA fund to expand its innovative cybersecurity solutions using homomorphic encryption in Europe, specifically Italy.
Target Company Overview
DataKrypto, founded in 2021 by Luigi Caramico in Silicon Valley, specializes in developing innovative solutions for data and transaction protection through homomorphic encryption. This proprietary technology allows secure operations on encrypted data without exposing its content, contributing to enhanced cybersecurity across various sectors including telecommunications, healthcare, and manufacturing. In 2023, DataKrypto reported a turnover of over 3 million Euros, reflecting a significant growth of over 2.5 times compared to the previous year.
With a dedicated team of 22 professionals comprising engineers, physicists, and mathematicians specialized in cryptography, DataKrypto is committed to delivering high-performing data encryption solutions. The company has recently established a new headquarters in Rome, Italy, which will oversee its US operations, marking a strategic investment in enhancing its market presence in Europe, especially in the Italian market.
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Industry Overview in Italy
The cybersecurity industry in Italy has been gaining traction as businesses increasingly recognize the necessity of robust data protection mechanisms. With the rapid digitalization across sectors, there is a growing demand for advanced cy
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P101 SGR, Cysero EuVECA fund
invested in
DataKrypto
in 2023
in a Growth Equity & Expansion Capital deal
Disclosed details
Transaction Size: $3M
Revenue: $3M