The funding round features London-based 24Haymarket as lead investor, joined by GALLOS and a new institutional Co-Investment Fund (NI) investment through Clarendon Fund Managers.
The company will use this investment to fuel its international growth plans, accelerate the design and implementation of bespoke cybersecurity programs and grow the Angoka team.
Angoka Chairman Steve Berry said, “We are growing to keep up with rapid developments in cybersecurity spaces, particularly in aviation, transport and the Internet of Things.
“We’ve had strong, compelling results in live and real-world testing, cementing our reputation as a leader in the field.”
The Belfast-based company has partnered with a number of projects under the UK’s Future Flight Challenge for research and innovation, including Skyway, in which air traffic corridors in the south of England were designated for drones and unmanned aircraft.
Angoka provides anti-piracy security for automated, remotely operated and unmanned aircraft using these corridors.
Paul Tselentis, CEO of 24Haymarket, explained: “Providing secure machine-to-machine communication is essential to enable the development of the next generation of ground and air mobility. We believe Angoka can set the standards for securing these critical communications and 24Haymarket is proud to support Angoka in bringing its cutting-edge technology to market.
Dean Jones and Josh Burch, co-founders of GALLOS, continued: “We are delighted to support Angoka, an ambitious and rapidly growing UK cybersecurity company.
“We are confident that the team is building a set of security technology capabilities fit for the coming era of threats and vulnerabilities. We are also pleased to support a company that was previously selected for the Cyber Accelerator program of NCSC.”
Chris Trotter, Chief Investment Officer at Clarendon Fund Managers, said: “We are delighted that the Co-Fund NI investment will support Angoka’s next stage of growth as it commercializes its technology and enters new markets. Angoka’s innovative cybersecurity solutions are developed in Northern Ireland, benefiting from the diversity of technological talent available locally.
Mr. Berry added, “Angoka’s innovative technologies are unique to remotely operated vehicles and drones that are used for commercial and logistical purposes, including unmanned medical deliveries, site inspections, geographic surveys, search and rescue and emergency service support.
“Our company’s role in ensuring the robustness and security of communications between connected devices is critical to the successful, safe and secure operation of automated, remotely operated and unmanned aircraft.
“We are moving faster than ever to commercialize automated flight in many industries ranging from search and rescue to logistics and traffic management.”
Earlier this year, Angoka won two awards at the European ITS 2022 Congress in Toulouse. The company won the Technological Innovation and Top Start Up awards.
“We were thrilled to be recognized again this year for our industry-leading solutions,” Berry concluded. “This is a particularly competitive field where some of the best minds are creating extraordinary technologies in the field of mobility, so we are very grateful to the judges for recognizing the fantastic work of the ANGOKA team.”
“Mindset is everything when it comes to business”