Investors eCapital, with an interest in cybersecurity, 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, in the latest funding round.
Willi Mannheims, managing partner at eCAPITAL, and James Bruegger, managing partner at Seraphim Capital join the UltraSoC board as investor director and observer respectively.
Rupert Baines, CEO of UltraSoC, told eeNews Europe that the latest funding "is a bridge and we will be doing another round fairly soon. This gives us a way to deliver on some targeted projects." Baines said the round had received more interest. "We considered making the round bigger but we decided to cap it."
UltraSoC was founded in 2005 and currently has 35 employees. The funds would be used to increase staffing to about 50 by the end of 2019 and to employ more people in 2020
As part of its planned expansion, UltraSoC will be recruiting hardware and software engineers at its headquarters in Cambridge, UK, and design center in Bristol UK. It also plans to open an engineering center in Warsaw, Poland to develop its data science and machine-learning technologies.