Bath-based cybersecurity company Blueskytec has successfully raised £1.5 million in funding to expedite the deployment of its technology across national infrastructure. This investment, facilitated by Maven Capital Partners through the British Business Bank’s South West Investment Fund, is poised to drive the company’s expansion as demand increases from sectors such as defence, civil nuclear, and energy.
Blueskytec was established to address the widening gap in cybersecurity for operational technology (OT). The company has developed a patented hardware-based solution specifically for high-stakes industrial systems, providing a crucial physical layer of cyber protection. This innovation is increasingly important as regulatory standards become more stringent across infrastructure sectors.
The technology is already in use by government and industry bodies in both the UK and the US, having undergone extensive real-world testing. With the volume and sophistication of cyber threats to OT systems on the rise, Blueskytec asserts that its platform offers a unique hardware-based layer of cyber protection not available with other solutions.
The funding will also facilitate the company’s scale-up plans, which include recruitment, business development, and the expansion of its manufacturing capabilities. This preparation is essential for the full-scale deployment of its technology with several major industrial partners.
Chris Mobley, CEO of Blueskytec, expressed enthusiasm about the partnership with Maven and the South West Investment Fund, stating, “The Maven team dedicated time and effort to thoroughly understand our business, which enabled them to clearly see the full potential of the technology. We look forward to a strong collaborative relationship as we enter the next stage of our exciting journey.”
Rafi Khan, investment manager at Maven, commented, “Blueskytec has developed a cybersecurity solution that addresses a critical gap in the market, particularly for infrastructure and operational technology systems. Given the rapidly expanding threat landscape and the regulatory imperative for enhanced cyber assurance, the addressable market for the company’s solution is large and growing. We’re delighted to back Chris, Nicky and the team at such a pivotal point in the company’s journey and look forward to working with them as they continue to expand.”
