CyberOwl secures £1m in Seed funding from 24 Haymarket and Mercia to scale commercial operations.
The financing round was supported by 24 Haymarket and Mercia to fund regional expansion and product development.
CyberOwl develops analytics platforms to detect early cybersecurity risks in connected industrial systems. The firm spun out from Coventry University and works with clients across defense, utilities, and maritime sectors.
CyberOwl has secured £1m in Seed funding to expand its commercial operations and establish a new research base in the Midlands. The round was backed by 24 Haymarket, Mercia, and the MEIF Proof of Concept & Early Stage Fund.
The capital will support the company as it scales the commercialisation of its Medulla platform and opens an office in Birmingham, creating six new jobs. Originally founded as a Coventry University spinout, the firm aims to tap into the regional technical talent pool.
Following the investment, Matthew Bowcock joins the board of directors representing 24 Haymarket. The funding highlights continued backing from existing partners alongside new syndicate participants.
From the founder
"There is a wealth of technical talent in the Midlands, which is clear from the leading research that repeatedly comes out of the region. We are clear at CyberOwl that we need to go where the talent is. We were born out of research at Coventry University and are excited about the prospect of building up a research and development base in the MIdlands."
Dan Ng
CEO at CyberOwl
Investor perspective
"Mercia has supported CyberOwl since its inception. We are optimistic that our continued financial and operational support, along with that of our new co-investment partner 24 Haymarket, will enable the company to fulfil the promise that we identified when making our initial investment."
Alistair Forbes
Mercia Technologies
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
- 04Expand into international markets
