Deeptech
Q2 202418.04.2024

Cybersecurity

Picture of Éanna Kelly

Éanna Kelly

at Sifted

Is AI making us safer, or hackers more cunning? Tools like OpenAI’s ChatGPT are helping improve everything from the quality of phishing emails to — more worryingly — the potency of malicious code. Hackers are using deepfake videos to impersonate your boss, while also trying to trick chatbots into forwarding private documents. Cryptocurrency, meanwhile, has given ransomware gangs a way to cash out immediately with little risk.

The staggering advance of generative AI is making it cheaper and lower effort to create new cyber weapons. “It’s worth trying if it only costs you pennies to try and attack something, whereas before it would cost you several thousands of pounds per attempt,” Glyn Roberts, CTO of software company Vention, told Sifted recently.

But while all of this new tech heightens the powers of attackers, it’s the same story for defenders. Large companies are exploring computer-generated passcode defences — which are virtually impossible to steal — as well as the potential of fully automated cyber defence. Paris-based Qevlar AI, for example, uses AI to automate the investigation of cybersecurity alerts. This tech can learn about different alerts and recommend what actions need to be taken next. Growing awareness around cybercrime sees offices enlisting expert training for their staff. Oslo-based Pistachio uses AI to create tailored training programmes. France’s Filigran provides “adversary simulation” — the CEO and cofounder, Samuel Hassine, used to run the threat intel team at ANSSI, France’s national cyber agency.

Europe’s cyber startups need to be nimble because criminals are innovative and the nature of the threat keeps changing. In this new era of AI-enabled cat and mouse, security tools need to be a priority.

20 startups to watch

  • IDlayr logo

    Sifted score

    8.19
    -

    IDlayr

    Streamlined digital identity verification solution

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2020

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      8.2m / Apr 2022

    • Total funding

      11.8m

  • Nano Corp logo

    Sifted score

    6.92
    -

    Nano Corp

    Enhanced network security detection technology.

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2019

    • HQ

      Paris, France

    • Latest round

      Seed
      4.2m / Oct 2023

    • Total funding

      5.8m

  • Mindgard logo

    Sifted score

    6.87
    -

    Mindgard

    Securing AI models from vulnerabilities.

    • Strong investor(s)
    • Year founded

      2022

    • HQ

      Lancaster, United Kingdom

    • Latest round

      Seed
      3.6m / Sep 2023

    • Total funding

      3.6m

  • Sitehop logo

    Sifted score

    6.77
    -

    Sitehop

    Hardware-enforced encryption for secure communication.

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2021

    • HQ

      Sheffield, England

    • Latest round

      Seed
      6m / Feb 2024

    • Total funding

      7.2m

  • Coincover logo

    Sifted score

    6.71
    -

    Coincover

    Securing crypto and blockchain technology.

    • Year founded

      2018

    • HQ

      Cardiff, United Kingdom

    • Latest round

      Early VC
      27.3m / Feb 2023

    • Total funding

      36.1m

Related articles

European climate tech flocks to the oil-rich Gulf
Gulf SeriesAnalysis

May 9, 2024

European climate tech flocks to the oil-rich Gulf

An illustration of the Dubai skyline along with maps of Europe and the Gulf states.
By Freya Pratty
Bill Gates weighs in on new €1bn German fund to back capital-intensive climate tech

May 9, 2024

Bill Gates weighs in on new €1bn German fund to back capital-intensive climate tech

By Miriam Partington
The next act of GenAI: How to get AI ‘agents’ working like humans

May 9, 2024

The next act of GenAI: How to get AI ‘agents’ working like humans

By Tim Smith
Later-stage funding is the most pressing issue for European startups, says rebooted European startup organisation

May 9, 2024

Later-stage funding is the most pressing issue for European startups, says rebooted European startup organisation

By Anne Sraders
VCs and LPs should stop kidding themselves about ‘dual use’ defence tech
DeeptechAnalysis

May 8, 2024

VCs and LPs should stop kidding themselves about ‘dual use’ defence tech

By Anne Sraders
Microsoft and Google-backed AI legaltech startup raises $7m

May 8, 2024

Microsoft and Google-backed AI legaltech startup raises $7m

UK-based Definely says it will build out more AI products and invest in US expansion

By Kai Nicol-Schwarz
10 pitches deeptech VCs want to hear
DeeptechAnalysis

May 8, 2024

10 pitches deeptech VCs want to hear

Sifted asked five deeptech VCs to share what’s catching their attention at the moment

By Daphné Leprince-Ringuet
Fertility startups to watch, according to investors
ConsumerAnalysis

May 8, 2024

Fertility startups to watch, according to investors

VCs from Sofinnova, Antler and Ananda Impact Ventures share their top picks

By Sifted reporters
Meet Europe's fintech soonicorns
FintechAnalysis

May 7, 2024

Meet Europe's fintech soonicorns

Four new fintech unicorns have been created so far this year in Europe — We analyse which startups could be next

By Tom Matsuda
Wayve raises $1bn from NVIDIA and Microsoft in Europe’s largest AI round

May 7, 2024

Wayve raises $1bn from NVIDIA and Microsoft in Europe’s largest AI round

By Kai Nicol-Schwarz
How many of the UK’s best-funded scaleups are profitable?
Startup LifeAnalysis

May 7, 2024

How many of the UK’s best-funded scaleups are profitable?

Sifted digs into company accounts to find out

By Kai Nicol-Schwarz
The crypto con scamming founders out of hundreds of thousands of dollars

May 7, 2024

The crypto con scamming founders out of hundreds of thousands of dollars

By Steph Bailey
ETH spinout Mimic raises $2.5m for AI-powered robotic hands

May 7, 2024

ETH spinout Mimic raises $2.5m for AI-powered robotic hands

By Miriam Partington
‘The people here don’t want a work-life balance’: Living in London's founder house
Startup LifeAnalysis

May 7, 2024

‘The people here don’t want a work-life balance’: Living in London's founder house

The founder house kitchen and coworking space
By Sadia Nowshin
How to prevent fundraising from burning you out

May 7, 2024

How to prevent fundraising from burning you out

Anh-Tho Chuong, cofounder of Lago
By Anh-Tho Chuong
Which are the most ‘data-driven’ VCs in Europe?

May 6, 2024

Which are the most ‘data-driven’ VCs in Europe?

One European VC has more engineers than investors on its team

By Amy Lewin
The VC behind Europe’s leading startup ecosystem
DeeptechAnalysis

May 6, 2024

The VC behind Europe’s leading startup ecosystem

A picture of the team at UVC Partners.
Sponsored by UVC Partners
What to do when a US competitor lands in your backyard

May 6, 2024

What to do when a US competitor lands in your backyard

A picture of David Blyghton, partner at Highland Europe
By David Blyghton
Magical mushrooms: How mycelium is changing industries beyond food
DeeptechAnalysis

May 6, 2024

Magical mushrooms: How mycelium is changing industries beyond food

Founders of Loop Biotech, Lonneke Westhoff and Bob Hendrikx
By Sadia Nowshin
Spacetechs search for Nato’s front door
DeeptechAnalysis

May 3, 2024

Spacetechs search for Nato’s front door

We attend a Nato gathering in Toulouse to explore how the military alliance can adopt more spacetech

By Éanna Kelly
Meet Dubai’s new generation of European tech founders
Startup LifeAnalysis

May 3, 2024

Meet Dubai’s new generation of European tech founders

An illustration of the Dubai skyline and map with Sophia Parvizi-Wayne of Kanjo in the foreground.
By Freya Pratty
Tech sovereignty is bad for exits - Alice & Bob’s founder on quantum, IPOs and competing with big tech
DeeptechInterview

May 3, 2024

Tech sovereignty is bad for exits - Alice & Bob’s founder on quantum, IPOs and competing with big tech

A picture of a man manipulating Alice & Bob's quantum computer
By Daphné Leprince-Ringuet
Germany’s 10 fastest-growing startup teams
Startup LifeAnalysis

May 3, 2024

Germany’s 10 fastest-growing startup teams

Climate and AI startups are — predictably — growing their headcount the fastest after huge financing rounds in 2023

By Miriam Partington
How to use APIs to build your startup

May 2, 2024

How to use APIs to build your startup

Tomislav Bišćan, founder and CEO of Orangepill, walks us through his tips

By Anisah Osman Britton