Cybersecurity startup ExactTrak has raised £1 million in funding.
The firm, based in Banbury in Warwickshire, has 19 granted international patents and a groundbreaking ‘Mission Impossible’ patent – securing the remote physical destruction of memory within three seconds.
ExactTrak, which recently secured a UK government contract, intends to use this to protect government data and facilitate dual-use applications in the commercial sector.
£500,000 of the investment comes from UKI2S’s £18m Ministry of Defence-backed defence & security seed (D2S) fund, with the rest from angel investors including major existing backers.
By emphasising built-in hardware as opposed to conventional software solutions, ExactTrak says it effectively eliminates traditional cyber threats, ensuring a robust and comprehensive defence mechanism.
The company has strategically collaborated with Dell, leveraging not only technical support but also forging pathways for remote management within laptops that operate independently, further enhancing their capability to meet evolving cybersecurity needs in the defence, security and commercial sectors.
“We are thrilled to have the support of UKI2S as a key partner in our journey,” said Norman Shaw, founder and CEO.
“This investment marks a significant milestone in our pursuit of creating cutting-edge solutions that redefine cybersecurity standards, particularly in the face of quantum computing cyber threats.
“Our mission is to transform the industry by ensuring the utmost security for government and commercial sector customers alike.”
Mark White, investment director at UKI2S – managed by Future Planet Capital – highlighted the dual-use capabilities of ExactTrak’s solutions.
“ExactTrak’s innovative approach to cybersecurity places them at the forefront of the industry,” he said.
“Their solutions, available to anyone in the government and with applications in the commercial sector, particularly in finance and healthcare, demonstrate the cross-sector impact of their technology.”