NANO Corp Secures 4.2M Euros Seed Round to Expand 100% Software-Based Network Detection and Response Solution
October 2023 by Marc Jacob
NANO Corp, a cybersecurity firm providing software-based network detection and response (NDR) solutions, announces it has closed a $4.2 million seed round. The round was led by G+D Ventures, with renewed trust from Elaia Partners and participation from Cyber K1, and Inovia Capital Precede Fund I.
NANO Corp has patented an innovation that provides all network data from edge to cloud in a single pane of glass while eliminating the need for hardware acceleration, even when dealing with network throughput scaling up to 100Gbps.
Companies are increasingly relying on their networks to keep up with their business pace yet are facing increasing cybersecurity challenges. A growing number of organizations stopped relying on network detection given a lack of appropriate solutions and bore the high costs of additional hardware to secure their networks.
NANO Corp’s breakthrough technology empowers customers to gain full visibility into their networks, enabling unprecedented swift identification of vulnerabilities and misconfigurations even in hybrid configurations. This advancement holds the promise of disrupting the field of trusted network security for large or complex networks while ushering in a new business model.
"This funding round signifies more than just capital; it’s a testament to NANO Corp’s vision, resilience, and the potential our technology holds in revolutionizing digital security on a global scale," stated Fanch FRANCIS, CEO. "In an environment where startups face financial turbulence, this robust backing from international venture capital funds speaks volumes about our team’s capability and the trust placed in our innovative approach. As we set our sights on broader horizons beyond France, we remain deeply grateful to our investors for seeing the transformative potential of NANO Corp’s future."
Insights on the Equity Round
German G+D Ventures spearheaded the round. Assaf Shamia, investment partner, remarked, “In our pursuit of driving transformative advancements in TrustTech across Europe, G+D Ventures proudly took the lead in investing in NANO Corp. We were particularly impressed by the expertise of their core team in the field of cybersecurity, especially their hands-on mastery of network security. What truly sets Nano Corp apart is their remarkable technological stride, having developed a 100% software-based NDR (Network Detection and Response) solution that supports high network throughputs and capable of full packet capture”.
Cyber K1 a keen observer of NANO Corp’s journey, added, “Our scrutiny over the past couple of years revealed no worthy alternatives to what NANO Corp has built. Our investment decisions hinge on two critical pillars: the calibre of the management team and the global scalability of the product. Our decision to invest was expedited by the privilege of co-investing with some of Europe’s top VC funds.” Stéphane Klecha, managing partner.
Elaia Partners, existing investors from the first round, reinvested, alongside new investors from Inovia Capital Precede Fund I, steered by partners Patrick Pichette and Raif Jacobs.
Elaia Partner, Marc Rougier, said “Cybersecurity has never been more important than now. We are pleased to show support for NANO Corp’s innovative network security platforms as part of our commitment to pursuing cutting edge tech investments across Europe. NANO’s disruptive approach and proven technology, alongside the team’s deep expertise and strong leadership herald huge potential for the future.