Lithuanian cybersecurity firm Cyber Upgrade recently earned €650,000 in pre-seed funding from venture capital firms such as Firstprick and NGL Ventures and various angel investors.
The funding aims to boost the firm’s artificial intelligence capabilities and to develop its advanced threat detection algorithms. In light of increasing global concern over cyber threats, the investment will also aid in expanding to new markets and fortifying Cyber Upgrade’s defenses against prevalent and emergent cyber risks.
This capital will augment the company’s product range and advance its marketing and business expansion strategies.
Funds will be utilized to diversify and improve the product line and power the creation and execution of robust marketing campaigns and business growth plans.
Cyber Upgrade’s co-founders, Aurimas Bakas and Andrius Minkevičius, have significant experience in the fintech sector, notably in creating core banking solutions and understanding its security requirements. They have a proven record of pioneering solutions that meet the complex needs of the rapidly evolving fintech industry.
According to Bakas, a substantial part of the new funding will be dedicated to product development, with the remainder used to amplify marketing efforts and business cultivation strategies.
Cyber Upgrade plans to create a robust, proprietary AI model
In the future, Cyber Upgrade plans to create a robust, proprietary AI model to facilitate team members’ involvement in the cyber governance process and resolve the chasm between theoretical and practical security standards. This model will revolutionize cybersecurity, providing a framework and real-time solutions.
Cyber Upgrade is committed to ongoing adaptations to its cyber defense framework and provides evidence-based metrics on its performance. Automated audit reports will be instantly supplied to the appropriate regulators or auditors.
The firm emphasizes the importance of constant evolution in the fast-paced technology realm. This ongoing learning guarantees the firm stays up-to-date with new technologies and adjusts for potential cyber threats. In sum, Cyber Upgrade’s advanced AI model and innovative approach are essential to comprehensively integrating cybersecurity into daily operations.
