July 05, 2024
Binarii Labs, a company specializing in data security solutions, has successfully obtained a €400,000 investment from Enterprise Ireland. This latest investment brings the total funds raised by the company to €3 million.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Binarii Labs | €400,000 | July 05, 2024 | Strategic | €3M | Enterprise Ireland | Security |
Established in 2021, Binarii Labs has ambitious plans for expansion, with the creation of over 100 new jobs projected by 2027. The company has already made significant strides towards this goal, having created over 20 new positions in recent months. These new roles span a variety of areas, including specialist deep tech research and development, data security, tech and customer support, marketing, and business development.
Peter Burke, the Minister for Enterprise, Trade and Employment, praised the team at Binarii Labs during the announcement at NovaUCD, acknowledging their recent successful funding round.
Aidan Finn, the CEO and co-founder of Binarii Labs, stated that the funding will support the company's ongoing strategy for international market expansion. He emphasized the company's mission to empower enterprises, particularly small and medium-sized enterprises (SMEs), to regain complete control, ownership, and secure custody of their own data and the data of their stakeholders.
About Binarii Labs
Binarii Labs is a Data Security Solution Developer. They have developed a patented data security process that uniquely addresses cybersecurity risks, resilience, and threats from bad actors. This process involves encrypting valuable data using AES-256, fragmenting it, and distributing the encrypted pieces across multiple cloud providers. This means that even if a hacker manages to access the data, they would only get incomplete and useless fragments.
One of their notable products is Cyqur, a solution built on their proprietary US-UK patented technology. Cyqur is designed to revolutionize data security and provide users with unparalleled peace of mind. It works by encrypting, duplicating, and fragmenting data across various user-owned cloud locations, ensuring maximum protection against breaches. Even if one location is breached, the hackers will only access useless and incomplete fragments of information, thus preserving data integrity.
Website: https://www.binariilabs.com/
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About Investor
Investor: Enterprise Ireland
Enterprise Ireland is an Irish state economic development agency that is focused on helping Irish-owned businesses deliver new export sales. The agency supports Irish enterprises to create solutions for global challenges, delivering sustainable prosperity throughout Ireland. Their mission is to accelerate the development of world-class Irish companies to achieve leading positions in global markets.
Enterprise Ireland supports companies from start-ups to SMEs to multinationals on their journey as they scale, develop capabilities, and expand their global footprint. They have helped thousands of global customers to solve their business challenges and gain competitive advantage by partnering with Irish companies. As the most active venture capital investor in Europe by deal count, Enterprise Ireland invests in and supports innovative Irish companies and connects them with customers worldwide
Location: Dublin
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