RO cloud security start-up seeks EUR 300,000 on crowdfunding platform SeedBlink

Cyscale, a Romanian start-up that develops security solutions for data saved in the cloud, plans to draw EUR 300,000 on SeedBlink, the largest crowdfunding platform in Southeast Europe.

Some EUR 200,000 should come from SeedBlink investors and EUR 100,000 from the GapMinder VC fund as the lead investor.

Cyscale was founded at the end of 2018 by local entrepreneurs Ovidiu Cical, Manuela Ticudean, Laura Cical, and Andrei Milas. The company from Cluj-Napoca develops protection software solutions for the information saved in the cloud and performs risk analysis of this data.

"Listing on SeedBlink will help us develop our technical and sales team, and make our first steps to global expansion. With a very good product and a strong sales team, we hope to achieve our goal: to support companies to differentiate themselves through digitalization. We believe that cloud technology and data protection in the cloud can bring competitiveness," says Ovidiu Cical, co-founder and CEO of Cyscale.

The company will use the money to develop the technical and marketing & sales team and global expansion, mainly in the US, Germany, England, and the Netherlands.

The company will be valued at some EUR 2.3 mln after the financing round.

(Photo: Sarayut Thaneerat/ Dreamstime)