Osborne Clarke has advised Bochum-based cybersecurity company Edgeless Systems on its recent EUR 5 million seed funding round.
Edgeless Systems was founded in 2020 by Felix Schuster (formerly of Microsoft) and Thomas Tendyck (formerly of G Data) to develop a “highly secure container platform”. This so-called confidential computing allows data to be processed in an encrypted state and in a precisely traceable way – therefore, users always know exactly what is happening to the data and who has access to it. This way, Edgeless Systems aims to enable developers around the world, as well as organisations in the financial services, public sector, telecommunications and healthcare sectors, to use public cloud infrastructures without security and privacy concerns. Currently, the start-up has 15 employees.
In 2021, Acequia Capital, Inventures, Six Group and several business angels already invested EUR 1.45 million in the young company from the Ruhr region. Now another seed financing round has taken place: Lead investor SquareOne, existing investors and business angels such as Gil Goren, Uri Alter, Evan Weaver, Paolo Negri, Mirko Novakovic, Chris Bach and Mathias Biilmann are investing EUR 5 million.
The team advising Edgeless Systems, led by Nicolas Gabrysch, consisted of Philipp Niedermeyer (both Corporate/VC) and Nils Wiehmann (Labour Law).