Contxto – You can’t put a price on data security… but you can place an investment on it.
Cybersecurity startup Kryptus recently closed R$20 million (~US$3.7 million) through the Aerospace Investment Fund (AIF). The funds will serve for the startup to scale outside of its native Brazil.
Interestingly, Kryptus has a forte that is unusual but uber important: military markets.
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Aerospace Investment Fund and startup Kryptus
Besides having a cool-sounding name, the AIF is all about startups working with tech for space, defense, aeronautical, and security industries.
Among the AIF’s shareholders is Embraer, a Brazilian conglomerate that manufactures and sells aircraft for defense, commercial, and executive sectors. It had previously employed Kryptus’ cybersecurity solutions.
In any case, the startup has the credentials to stand on its own. It’s certified as “Strategic Defense Company” (EED) by Brazil’s Ministry of Defense. This reportedly gives it a leg up in winning government contracts. Consequently, it’s developed projects for the Brazilian Army, Navy, Air Force, to name a few.
- Related article: Cybercrime is rising and Latam… doesn’t care?
And while its recent investment round will help it scale abroad, Kryptus is no newcomer to international projects. It’s reportedly worked for the Peruvian Navy and Colombian Army.
Setting the startup’s military legacy aside, it’s also ventured into the civilian sector too. Companies like Iron Mountain and iFood are part of its customer portfolio.
Cybersecurity challenges for defense
The coronavirus outbreak has forced civilian companies to grapple with cybersecurity risks as employees work from home. And the military is not exempt from this challenge.
However, in their case the problem isn’t exposing office gossip in embarrassing emails.
Instead, armed forces are dealing with highly classified information whose exposure may pose a risk to national security. Couple that with your “typical” targeted attacks and phishing expeditions and it’s a breeding ground for a data breach.
As a result, they seek to amplify their defenses not only “for the real world” but for the digital realm as well.
Related articles: Tech and startups from Brazil!
-ML
