Secure-IC raises €20m for IoT cybersecurity

Business news |
By Nick Flaherty

The €20m round was led by Alliance Entreprendre with the support of GO Capital and BNP Paribas Développement to accelerate growth worldwide and carry out external growth operations to implement its “Chip to Cloud” vision.

Since its creation in 2010, Secure-IC has developed a presence and customers in 20 countries, across 5 continents, with more than 100 employees. The company has filed over 200 international patents for protection technologies that are embedded into hundreds of millions of electronic chips for smartphones, computers, automobiles, smart meters, cloud servers and more.

The “chip to cloud” vision, consists of going beyond the physical security of electronic chips to cover cover the entire security lifecycle of connected objects and embedded systems, from the design through the management of fleets of deployed devices up to their decommissioning.

“After 10 years of organic growth and controlled profits, we are proud to conclude this first capital raising which will allow usto reach an important milestone. From being a recognized player in the cybersecurity of embedded systems and connected objects, Secure-IC’s ambition is to become the global leader in a market segment that includes more than 10 billion connected devices worldwide,” said Hassan Triqui, CEO of Secure-IC.

“To reinforce the security of goods and people on a daily basis, cybersecurity must be at the heart of the design of embedded technical solutions. We have been very impressed by the vision of the managers and are convinced that Secure-IC is a major player to meet this challenge of Security by design, by offering a complete range of services such as the Root of Trust or the resistance to quantum decryption. With this growth capital operation, in line with the investment strategy of Alliance Entreprendre on cybersecurity, we will be able to support Secure-IC in this new key stage of its development, with the objective of becoming the European leader,” said Benoît Thiedey, Romain Mistre and Sébastien Viou of Alliance Entreprendre.

“Secure-IC has a high level of technical know-how based on a solid portfolio of intellectual property. We were convinced by the team’s expertise and its real potential to become a significant and recognized player in the connected object cybersecurity market. This investment in Secure-IC is the first financing made through our recently launched OV4 venture capital fund, which is dedicated to supporting the sustainable growth of companies based in the West of France,” said Bertrand Distinguin, President of GO Capital.

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