UltraSoC hiring and plotting global growth after securing £5m equity funding
Cambridge UK embedded analytics business UltraSoC plans to substantially grow its worldwide operations to address emerging opportunities in the cybersecurity, high-reliability and safety-critical systems markets.
The fresh phase of expansion follows the successful closing of a £5 million equity funding round in which cybersecurity-focused German venture capital firm eCAPITAL, and Seraphim Capital, a specialist investor in the space ecosystem, joined existing UltraSoC investors Indaco Venture Partners, Octopus Ventures, Oxford Capital, Techgate, and business angel Guillaume d’Eyssautier.
As part of its planned expansion, UltraSoC will be recruiting hardware and software engineers at its St John’s Innovation Centre headquarters in Cambridge and design centre in Bristol.
It also plans to open an engineering centre in Warsaw, Poland to develop its data science and machine-learning technologies; the company will also expand its network of customer support engineers globally, and increase its commercial presence in key markets, including Europe, the US, Japan and China.
The latest funding round, which was substantially oversubscribed, follows a successful period of growth for UltraSoC with a strong list of new customers and a number of important technology developments.
Willi Mannheims, managing partner at eCAPITAL, and James Bruegger, managing partner and investment director of Seraphim Capital join the UltraSoC board as investor director and observer, respectively.
UltraSoC chairman, Alberto Sangiovanni-Vincentelli, said: “Developers are struggling to cope with the need for trusted solutions for cybersecurity and functional safety.
“UltraSoC is uniquely able to provide such features at the fundamental hardware level. eCAPITAL and Seraphim add sector-specific focus and expertise in cybersecurity and in the aerospace ecosystem, where functional safety and reliability are paramount.”
CEO Rupert Baines added: “UltraSoC is already established as the solution of choice for semiconductor companies who need to understand how their system-on-chip (SoC) products are behaving – yielding dramatically reduced development and debug costs and faster time to market.
“But those same customers – and investors – are now recognising the strategic potential for our technology in implementing functional safety and cybersecurity features. This funding round will enable us to grasp that opportunity, which I believe we are uniquely equipped to address.”