Extended seed funding takes authentication of any device connected to the (I)IoT to the next level.
SandGrain, the startup set to revolutionise authentication for (Industrial) IoT devices based on its “electronic bar code”, announces an extension to its seed funding round. SandGrain’s commercial efforts have resulted in significant traction at potential customers. In order to facilitate stronger customer engagement and the development of next generation hardware and customer-specific software, DeepTechXL – who had funded SandGrain with an initial €1,3 Million – has granted SandGrain an additional €2 Million extended seed funding
With this new funding, SandGrain is ready to start widespread pilot projects with its first key customers. Design-in kits, based on fully functional SandGrainA chips, are now available for companies to evaluate this new technology that is broadly applicable and infinitely scalable. Trusted identification and authentication are relevant for any sector with connected devices, including high-tech equipment, (I)IoT devices, (I)IoT smart networks, automotive and critical (utility) infrastructures.
The SandGrain device acts as the hardware trust anchor. It is an integrated circuit (IC) in a very small 8-pin SO8-package that can easily be added to any electronic board and connected to a local micro-controller using the standard SPI interface.
Design-in kits containing the physically unique IC-tokens are available for evaluation.
Founded in 2019, SandGrain uses a unique combination of manufacturing technologies to hard-code the identity of a chip so that it can never be altered. Each SandGrain chip is physically unique and 1043 physically unique chips can be produced – more than there are grains of sand on the entire earth. Secure identification and authentication of the chips is guaranteed, controlled by a secured cloud platform based on a post-quantum resilient symmetrical authentication algorithm. This combination of a unique, hard-coded, immutable, and unhackable token IC on the end node, and a single, central, and highly secure authentication server, makes the SandGrain solution extremely robust, reliable, and scalable. This offers the necessary level of protection for potentially billions of devices.
About SandGrain:
Today, cyber-attacks are a real concern. SandGrain believes in restoring trust and peace of mind in an ever-changing and expanding (Industrial) Internet-of-Things. SandGrain has created a unique solution that can be applied universally — at low cost — to any connective device within the (I)IoT. It combines the best of both worlds: a secure authentication server linked via a cloud platform to each physically unique hardware token attached to the device(s).
About DeeptechXL:
DeepTechXL was launched in 2022 with ASML, Philips, pension fund PME, Invest-NL, Brabantse OntwikkelingsMaatschappij (BOM), OntwikkelingsMaatschapij OostNL (OostNL)TNO, and various family offices.
‘Deep Tech’ is an umbrella term for transformative technologies (development and production technologies, advanced materials, photonics, and light, quantum, digital and nanotechnologies) developed in research institutions in response to major societal challenges as defined in the United Nations Sustainable Development Goals in healthcare, energy transition, sustainability, safety, and food. Deep Tech innovation enables sustainable long-term economic success and creates high-value-added jobs in the advanced high-tech manufacturing sector.
DeepTechXL has invested in eight potentially groundbreaking portfolio companies: InPhocal, Alphabeats, Gilbert, Keiron, SandGrain, Delft Circuits, super light photonics and Senergetics all of which aim to have a significant societal impact. The fund is actively involved and leverages its own network and access to corporate and scientific partners to add value. DeepTechXL follows a life cycle approach, supporting entrepreneurs and innovative companies from seed to follow-on investments (Series A/B/C), ultimately charting the best strategic path for the company after 5 to 10 years, as is customary in the Deep Tech investment market.
For additional details, reach out to:
Tanya Bakker
Email: tanya.bakker@sandgrain.eu
