Ubirch, a Cologne-based blockchain technology startup in the field of IoT, announced today the completion of its second round of financing and receives new growth capital in the seven-digit euro range. In total, the company has received several million euros since its inception to build its IoT security solution.
Ubirch has developed a protocol – implemented in software on connected devices and in the cloud – which guarantees the integrity of data which is exchanged between IoT devices. Ubirch will focus the additional capital on expanding its customer base.
The principal investors in this financing round are the existing shareholder SchneiderGolling & Cie. AG, BAUWENS digital GmbH and ProInvest Ubirch GbR. Investors in previous rounds include the London-based Breed Reply and Attia Ventures.
“The very positive business development since the official launch of Ubirch in 2016 shows, that the company’s data security approach can assert itself as a forward-looking alternative to the existing security products in the IoT environment. We believe that Ubirch’s technological solution is the essential foundation for the future of the Internet of Things. With our renewed financial commitment, we underline this.”
“The Ubirch technology and the team have convinced us. In terms of Ubirch, I can actually speak of a perfect fit for the business segments of BAUWENS. We are proud to have been part of this investment to help shape forward-thinking IoT business models with Ubirch’s promising cybersecurity solution. ”
“Cybersecurity is one of the biggest challenges for networking systems in the medical, energy and many other sectors. Ubirch has a compelling and scalable solution for this challenge. We look forward to supporting the continued growth of this innovative digital business model and complementing the circle of investors. ”
“On behalf of the entire company, I would like to thank our investors for their trust and support. We will drive the expansion of the company with a clear focus. The fact that we once again succeeded in attracting well-known investors gives us a strong momentum. Cybersecurity is one of the key topics in the IoT industry – and Ubirch has the leading solution in the market. “
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