Next-generation data transfer and storage APIs

This company is developing the next generation of data transfer and storage APIs. They already have around 1.3 million euros in revenue signed for 2023 with a system provider for the Saudi Arabian government.

Recently they’ve closed several contracts and are set to sign a few more with Post of Slovenia, NLB (the second-largest bank in southeastern Europe), and the National data center in Serbia. What’s more, they’ve signed Oracle as their development partner, who is keen to market their software once the development is completed.

To protect their innovative technology, they’ve prepared documentation for the IP protection of the system. They’re now entering the final stage of development, which will require a 3.5 million euro investment round.

Business model:

Clients pay annual or monthly fees based on data transfer, or a portion of their revenue.

Customer type:

B2B

Preferred investor type:

Angel investor, Venture Capitalist, Private Equity

USP’s:

Unique decentralized file storage methods, and file tracking technology. It allows for zero data loss even if one or more servers fail. The data is sliced and then encrypted, and the slices are stored on multiple servers, so no complete file is in one server.

The system is very modular and clients can configure it to their liking so it can easily replace their previous solution.

Capital amount needed:

€2.700.000,- (The total round is €3.500.000,-, but €800.000,- is already committed)

Investment need:

€2.5M development costs;
€700k intellectual property protection;
€300k running costs.

Sector:

B2B Software, SaaS, Security

Phase:

Seed

Number of founders:

3

Current number of employees:

28 developers and 6 members in the core team.

Experience founder(s):

Founders have experience in data security and fintech. All worked in multiple startups.

The first two owners co-founded this business when they were just 17 years old. Throughout the past four years, they have acquired a wealth of experience in areas such as management, business operations, and other essential elements required for operating a successful enterprise. Prior to this venture, both individuals were engaged in diverse projects, predominantly in the Information Technology and Communication industries.

The third owner has a professional background and is primarily recognized for his service as the Former Deputy Prime Minister, Minister of Public Administration, and Governmental CDO. In his capacity, he has demonstrated exceptional managerial capabilities, and his vast network of connections is of great value to their organization.