Seed28 February 2024

Sitehop secures £5m in Seed funding co-led by Amadeus Capital Partners and Manta Ray Ventures

The financing was co-led by Amadeus Capital Partners and Manta Ray Ventures to support international expansion and product development.

£5.0MSeed

Sitehop builds hardware-based encryption systems designed to protect networks from quantum-enabled cyber attacks while maintaining ultra-low latency. The company operates from Sheffield and collaborates with major telecommunications providers.

Sitehop has raised £5m in a Seed funding round co-led by Amadeus Capital Partners and Manta Ray Ventures. The financing also saw participation from Mercia Ventures, the Northern Powerhouse Investment Fund, the founders of Event Horizon Capital and Osney Capital, and several strategic angels including Rick Lazansky and Illia Polosukhin. The capital will be deployed to support international expansion, grow the team, and advance product development.

From the founder

"This investment allows us to expand our global reach, with sales and support engineering staff in Brazil, the US, India, and grow our Yorkshire headquarters. We will be adding engineers and production workers and moving into a new Sheffield location. The investment will also enable Sitehop to pursue its technology roadmap – fleshing out the range of SAFE products securing all types of data-in-motion, and developing parallel products using our world-class skillsets in cryptography and programmable hardware design. We aim to get Sitehop’s products into the backbone of most of the world’s networks in the next few years."

Melissa Chambers

CEO at Sitehop

Investor perspective

"Sitehop is bringing a novel hardware-based approach to a fundamental challenge facing the providers of the essential network infrastructure underpinning our digital society. The flexibility and scalability of Sitehop’s data encryption technology makes it accessible to SMEs as well as large enterprises, meaning there need be no weak link in our defence against cyber criminality."