An Australian cybersecurity start-up developing technology to help secure Internet-connected networks has raised $1.3 million in funding to commercialise its proprietary and patented technology.
CyAmast was spun out of the University of New South Wales, Sydney, using technology developed over the past four years at the university’s School of Electrical Engineering & Telecommunications.
The investment is the latest by IP Group Australia, the intellectual property commercialisation company that has committed to spend over $200 million to help commercialise research undertaken by Australia’s leading research universities, known as the Group of Eight.
The Chief Executive Officer of CyAmast, Adam de Jong, who is the former Chief Operating Officer of Diamond Cyber Security, said the new start-up had the know-how and expertise to secure networks due a highly skilled and experienced team, including world leading experts in Machine Learning, Software Defined Networking and IoT security.
“This injection of funds by IP Group Australia will allow CyAmast to leverage our recent successful product deployments, further build our sales and marketing capabilities, and develop new product features,” Mr de Jong said.
