Maven Capital Partners has invested £1.5 million in Blueskytec Limited, a cybersecurity hardware specialist based in Bath, through the British Business Bank’s South West Investment Fund. The cash injection will be used by Blueskytec to expand its workforce and manufacturing capacity.
Blueskytec has developed high-grade cybersecurity technology tailored for commercial applications within critical national infrastructure. The company’s patented solution offers a different approach to cyber defence for mission-critical systems, with a focus on the defence, civil nuclear, and energy sectors.
Chris Mobley, CEO of Blueskytec, said: “We are delighted to be partnered with Maven and the South West Investment Fund at this significant moment for the company. 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.”
As new regulatory standards emerge to enhance cyber resilience, Blueskytec provides a unique hardware-based layer of cyber protection which it says is unavailable with other solutions. Its technology has undergone extensive development and testing and is already deployed across a number of industries and government bodies in the UK and US.
The South West Investment Fund investment will be used to capitalise on demand from national infrastructure providers as Blueskytec moves towards full-scale deployment with leading industrial partners. The funding will also be used to support recruitment, expand its manufacturing capacity, and boost business development efforts.
The cybersecurity landscape is undergoing a significant shift, driven by regulatory mandates and escalating threats from sophisticated attackers. With increasing cyber threats in industrial environments, traditional IT security measures often fall short in addressing the unique challenges of operational technology. Blueskytec’s hardware-based solution is positioned to fill this gap, combining robust security with safety that integrates with existing infrastructures.
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across the South West. It offers a range of commercial finance options, including smaller loans from £25,000 to £100,000, debt finance from £100,000 to £2 million, and equity investment of up to £5 million. The fund aims to increase the supply and diversity of early-stage finance for smaller businesses in the region, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
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