Belfast’s Angoka raises £2.4m to grow IoT cybersecurity business

11 Nov 2022

Angoka chair Steve Berry. Image: Angoka

Angoka will use the latest investment to scale internationally.

Northern Irish cybersecurity company Angoka has raised £2.4m in a funding round to accelerate its growth in the aviation and road transport industries.

Based in Belfast, Angoka is an IoT security company focused on protecting machine-to-machine communications for smart cities and mobility. It develops technology that protects devices’ identities and safeguards critical communications integrity and data provenance.

“We are growing in order to match the fast-moving developments in the cybersecurity spaces specifically in aviation, transport and the internet of things,” said Angoka chair Steve Berry.

“We have achieved strong and convincing results in live and real world tests, and these are consolidating our reputation as leaders in the field.”

Angoka will use the latest funding to fuel its international growth plans, grow its team and accelerate the design and delivery of its cybersecurity services. Other than Belfast, Angoka has offices in London and The Hague.

London-based 24Haymarket led investment in the round, joined by Gallos and the Co-Investment Fund (NI) through Clarendon Fund Managers.

Paul Tselentis, CEO of 24Haymarket, said he believes Angoka can “set standards” in securing mission-critical communications for the mobility sector.

“Providing secure machine-to-machine communication is key to enabling the development of the next generation of ground and air mobility,” said Tselentis.

Angoka was one of eight start-ups vying for the top spot in the Irish leg of this year’s KPMG Global Tech Innovator prize, which was eventually bagged by Limerick’s Provizio.

Angoka did claim victory at a cybersecurity pitching event hosted by Enterprise Ireland in June, earning the company a nomination for the European Cybersecurity Startup Award.

Angoka has partnered with several projects in the UK Research and Innovation’s Future Flight Challenge. This includes Skyway – in which air traffic corridors in the south of England have been designated for drones and unmanned aircraft – for which it will provide hacker-proof security.

“We are moving faster than ever towards the commercialisation of automated flight across many sectors ranging from search and rescue to logistics and traffic management,” said Berry.

“[Our] technologies are unique to remotely operated vehicles and drones that are used for commercial and logistic purposes, including unmanned medical deliveries, site inspections, geographical surveys, search and rescue operations, and emergency services support.”

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Vish Gain is a journalist with Silicon Republic