Birmingham’s based cyber security innovator secures £1M boost

A Birmingham-based cyber security company, CyberQ Group, has successfully obtained a £1 million investment from the Midlands Engine Investment Fund (MEIF), specifically through the MEIF West Midlands Equity Fund managed by Midven, which is under the umbrella of the Future Planet Capital Group.

This significant financial boost is aimed at bolstering CyberQ Group’s efforts in enhancing the cyber resilience of companies worldwide. The infusion of funds will be strategically utilized to expand the firm’s sales and marketing initiatives, as well as to acquire the necessary additional resources and technology to cater to the evolving needs of their clientele.

Christopher Woods, chief executive of CyberQ, said: “As a Birmingham-based business, CyberQ Group is delighted to be supported by Midven and the Midlands Engine Investment Fund. 

“With the rapid adoption of new technology and AI in particular, cyber security is increasingly vital for all businesses to avoid data breaches and reputational harm. This investment strengthens our roots in the region and allows us to scale up to defend many more global clients against escalating cyber threats. 

“We look forward to working with Midven as we accelerate our growth plans.”

The latest investment phase of the Midlands Engine Investment Fund (MEIF) has concluded, leading to the British Business Bank unveiling the second iteration of the fund, the Midlands Engine Investment Fund II, at the close of the previous month.

Surjit Kooner, investment director at Midven, added: “Cybercrime today is a global problem, and the threats that this ultimately brings, must be addressed globally. 

“CyberQ has a breadth of experience and services that has the potential to significantly enhance the cyber-security of businesses and deliver cyber innovation to organisations across a variety of industries. 

“We are looking forward to being a part of their journey.”