Featured, Startups, Venture Capital

Cyberfog – the story of fundraising 500.000 Euro

Romanian startup Cyberfog has managed to raise a total investment of 500.000 euros from Startup Hub Poland (seed stage) and Giza Polish Ventures (early stage). The company which first started as a Penetration Testing Tool and Ethical Hacking company has transformed into a proactive cyber-security solution that helps companies deflect cyber-attacks. The solution creates a fake infrastructure representing thousands of computers, devices and different services aiming at blurring the real computers and making it difficult for attackers to find the real one.

The business based both in Ploiesti (Romania) and Wroclaw (Poland) has passed through MVP Academy and Hub:raum Accelerator in Krakow and started negotiations with Giza Polish Ventures at the end of 2014.

We slowly evolved. Noemi from Startup Hub Poland said that she doesn’t care how we will get there. We can even do hitchhiking as long as we will arrive. So we’ve done fundraising. We bargained with one of our clients to rent a minivan in exchange for our services and we borrowed 1000 euros from a friend for gas and housing through AirBNB. After 22 hours of driving we’ve spent 8 hours in negotiations. says Mihai Ranet, CEO and Co-founder.

Startup Hub Poland is a non-profit organization that aims to facilitate technological development in CEE region and have a strategic partnership with Giza Polish Ventures – a Polish-Israeli venture capital fund.

#cybersecurity #startup Cyberfog raised 500kEUR from #Polish VC with help of @HubSHP Click to Tweet

The three founders are Mihai Ranet (CEO), Claudia Dehelean (COO) and Adina Brutaru (CCO). According to Zf.ro amongst Cyberfog’s clients there are companies from the banking and financial sector, telecom and IT consulting.

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