Israel-based investment firm AltaIR Capital, in which Russian-Israeli billionaire Roman Abramovich is a key investor, has announced its investment in Indo-Israeli startup SafeHouse Technologies.
Aditya Narang, co-founder at SafeHouse, said the funds will be used for promoting BodyGuard, its flagship security app, and increase its investment in research and development.
The company will also be expanding its operations into India and the United Kingdom, the statement added.
The owner of Chelsea FC, a premier league football club, Roman Abramovich is known to back companies through AltaIR VC.
SafeHouse Technologies was founded by Aditya Narang and Liad Herman in 2016 with a vision of providing military-grade cybersecurity to smartphone owners.
On Altair VC investing in SafeHouse, Aditya Narang, Co-founder and Managing Director, SafeHouse Technologies said,
“The endeavour is to protect digital devices and users from an increasingly evolving cyber threat landscape. Yet another funding confirms the robust technology & innovative business model of SafeHouse”.
“The cyber defense technology we have developed is being made accessible to all types of users: government institutions, banks, SMEs, and even individuals,” he added.
In November 2019, SafeHouse had secured a sum greater than $2.2 million from Barclays Ventures UK in the seed funding. In October 2016, ESP Das, former Vice Chairman of Merrill Lynch, came on-board as an angel investor.
In May 2018, the startup was selected out of over 10,000 companies into the Techstars and Barclays accelerator. It had stated that it has taken a unique approach to democratise cybersecurity for the everyday consumer.
SafeHouse recently witnessed an unmatched success for its flagship product BodyGuard, it added. A one-button app that encrypts and secures mobile phones, BodyGuard was designed to deliver proactive mobile security to end-users.
BodyGuard provides military-grade security against a wide range of cyber threats such as phishing, malware, ransomware, and malicious links. SafeHouse claims it has already shipped at least one lakh units to more than 5,000 stores across the country.
SafeHouse claims to be a future focussed new-age security company driven by its mission, “to democratise cyber security”. The launch of its operations in India comes close on the heels of the historic Indo-Israel collaboration on national security and defence.
The investment in SafeHouse represents the growing attraction of the cybersecurity segment to investors, as the threat and frequency of attacks on enterprise and individuals’ data continues to grow.