Datakrypto, a company founded in 2021 in Silicon Valley and specialized in the design and development of solutions for the protection of data and transactions using homomorphic cryptography, receives an investment of 3 million euros from the P101 and Cysero funds, which enter equally into the capital. As a result of this transaction, the Cysero fund and P101 will hold a qualified minority stake in DataKrypto, while the majority will remain in the hands of the company’s founder and current chairman, Luigi Caramico. Datakrypto is the ninth investment of the Cysero fund , promoted by AVM Gestioni, jointly with Kilometro Rosso to support the development of new businesses in the robotics and cybersecurity sectors. P101 made the investment through two managed funds, Programma 103 and Azimut Eltif Venture Capital P103. The transaction represents the seventh operation carried out through Programma 103 in twelve months, i.e. since the start of its operations. In particular, the investment in Datakrypto follows those previously made by P101 in the cybersecurity field, confirming the relevance of a strategic sector characterized not only by a high technological component, but also by a strong development potential.
Headquarters in Rome
With the transaction announced today, the new investors will support the growth phase in the European market, in particular in Italy, of an innovative technology, originally developed in the USA by Luigi Caramico. The transaction also led to a reorganization of Datakrypto with the establishment of a new headquarters in Italy, in Rome, which now also includes the activities of the US office. The company can now count on a team of 22 people and a turnover that in 2023 exceeded 3 million euros , equal to a growth of more than 2.5 times compared to 2022 turnover. In the face of the new capital raised, Datakrypto will aim to continue the development of its fully homomorphic encryption solution and its products, especially by strengthening itself for applications related to advanced algorithmics and artificial intelligence. Datakrypto’s solutions are used in multiple areas: its flagship products, Phenom and Phenom for Images, are used from the software sector to the healthcare sector, integrating with existing solutions and adding additional layers of security. The vocation for innovation and security has led Datakrypto to develop solutions that guarantee data protection throughout its lifecycle with unmatched end-to-end protection. “This transaction marks a decisive turning point for Datakrypto, solidifying our commitment to innovation in the field of privacy-enhancing technologies. In just a few years, we have managed to position ourselves as a leader in the creation of fully homomorphic encryption solutions by solving technological problems that have delayed the commercial adoption of these solutions for many years. Our technology has enabled us to gain the trust of a broad portfolio of customers in sectors such as telecommunications, healthcare, manufacturing and SaaS solutions. Approximately 80% of our turnover is generated in the United States, reflecting our ability to effectively respond to the needs of a demanding and ever-changing global market,” it said in a statement Luigi Caramico – . With the support of strategic partners such as P101 and Cysero, we are committed to expanding our footprint and intensifying our impact in Italy and the entire EMEA region, in particular by accelerating the expansion of our R&D hub in Italy.” “We are extremely proud of the investment in Datakrypto, an international deeptech company with solid Italian roots that, through the innovative use of homomorphic cryptography, has the potential to revolutionize big data processing, allowing the management of complex data in a secure and private way. We believe that the company has great potential for development and that it can aim to redefine security standards in the digital landscape, shaping the future of cybersecurity, which will have to ensure the coexistence of constant innovation and privacy,” he says Giuseppe Donvito, partner of P101 -. We have put the expertise gained by the P101 team in the sector at the service of this transaction and we look forward to supporting Datakrypto’s new phase of growth, the seventh investment made through Programma 103 just 12 months after its launch”. “We are convinced that Datakrypto has a very high growth potential thanks to its innovative business,” said Giovanna Dossena, founder and principal of AVM Gestioni. The applications that the Cysero fund is studying range from robotics to cybersecurity, from artificial intelligence to new technology developments.” Luca Todesco, keyman of the Cysero fund who led the team in this operation adds: “It is a source of pride to have made an extremely advanced technology Italian; Without the contribution of the funds, it would have been difficult to achieve this result. Homomorphic cryptography is the future of this industry. Investing in a company that deals with this is a novelty on the Italian scene.” (Photo by Artem Bryzgalov on Unsplash)
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