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ExactTrak secures £1M funding to bolster its cybersecurity solutions, signaling growth

ExactTrak, a UK-based cybersecurity firm, has raised £1 million in funding, including a £500,000 investment from UKI2S's £18 million Ministry of Defence-backed defence and security seed (D2S) fund, as well as other angel investors. The company plans to use the capital to further develop its post-quantum cyber threat solution, which leverages its patented technology for remote memory destruction.

ExactTrak offers a unique approach to cybersecurity, by embedding hardware modules into laptops and other devices, that can be remotely controlled and destroyed in case of theft or loss. The company claims that its technology can physically destroy the memory of a device within three seconds, rendering it useless for any unauthorized access or data breach.

The company has 19 granted international patents and a patent for remote memory destruction, which it calls the 'Mission Impossible' patent. It also has a strategic partnership with Dell, which provides technical support and enables remote management of laptops that operate independently of the operating system or network.

ExactTrak's solutions are designed to protect government and commercial sector data from traditional and emerging cyber threats, such as quantum computing. The company has recently secured a UK government contract and intends to expand its customer base in the defence, security, finance, and healthcare sectors.

Norman Shaw, founder, and CEO of ExactTrak, said in a statement, we are thrilled to have the support of UKI2S as a key partner in our journey. This investment is a key step toward our goal of developing cutting-edge solutions that redefine cybersecurity standards, particularly in the face of quantum computing cyber threats. Our objective is to transform the industry by providing the highest level of security for both government and commercial sector customers.

Mark White, investment director at UKI2S, highlighted the dual-use capabilities and the innovation potential of ExactTrak's solutions. He stated that ExactTrak's creative approach to cybersecurity positions them at the forefront of the industry. Their solutions, which are available to anybody in government and have commercial implications, particularly in banking and healthcare, highlight technology’s cross-sector influence. This investment will help ExactTrak expand its highly secure government-assured solution, propelling the firm into new markets while also focusing on sales growth and strengthening its position in the defense and security industries.

ExactTrak is one of the few cybersecurity startups that focus on hardware-based solutions, rather than software-based ones. The company believes that its technology can offer faster speed, less energy consumption, and privacy advantages over current chips. It also aims to create a new standard for cybersecurity, that can meet the challenges of the digital age.