ExactTrak, a cybersecurity startup, has secured £1 million in funding.
The company, headquartered in Banbury, Warwickshire, boasts 19 international patents and a pioneering ‘Mission Impossible’ patent, enabling the remote physical destruction of memory within three seconds.
Having recently clinched a contract with the UK government, ExactTrak aims to safeguard sensitive government data and facilitate dual-use applications within the commercial sphere.
£500,000 of the investment originates from the UKI2S’s £18 million Ministry of Defence-backed Defence & Security Seed (D2S) fund, with the remaining sum sourced from angel investors, including significant existing supporters.
By prioritising embedded hardware over conventional software solutions, ExactTrak claims to effectively neutralise conventional cyber threats, thereby establishing a resilient and all-encompassing defence mechanism.
Strategically aligning with Dell, the company not only gains technical support but also establishes avenues for remote laptop management, bolstering their capacity to address evolving cybersecurity demands across 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.”
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