Sitehop secures over £1m from Mercia and the Northern Powerhouse Investment Fund to expand operations.
The funding will support equipment for upcoming trials and team expansion.
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.
Sheffield-based network security specialist Sitehop has secured over £1m in new funding to support its international expansion and product rollout. The investment was backed by Mercia, the Northern Powerhouse Investment Fund through NPIF - Mercia Equity Finance, Mercia's EIS funds, and private backers.
Founded in 2021, the company provides Field Programmable Gate Array boards that add network encryption without degrading speed or increasing power consumption. The new capital will be deployed to invest in equipment for an upcoming trial in Brazil and to scale up the team significantly by the end of the year.
From the founder
"Our hardware-based solution has none of the disadvantages of current systems and makes the addition of security a ‘no brainer’. The funding will help us to take the final step and bring it to market."
Melissa Chambers
CEO at Sitehop
Investor perspective
"Almost every aspect of our lives now relies on the internet but the connected world brings with it new risks. Until now there has been no way to provide the necessary security without slowing down response times and affecting quality. Ben and Melissa have found a novel way to address a problem that even the big tech companies have so far failed to solve. We are pleased to be able to support them on the next stage of their journey."
Dan Thomas
Mercia
Use of funds
- 01Grow the team
- 02Build out infrastructure
