TU/e-startup BitSensor raises 400.000 euro from Belgian investors
19 January 2017
The Belgian venture capital firm Volta Ventures is investing €400,000 in the TU/e-startup BitSensor. With this money, the company wants to build up the business. BitSensor claims to have developed new technologies which enable companies to get insight within 50 milliseconds about the security status of their applications and data.
The company was founded by Ruben van Vreeland (21) and Alex Dings (20). “Cyberattacks which could have been stopped by our software make it to the news almost daily”, Van Vreeland says. “Think of attacks from Russia, the Yahoo-leak with half a billion leaked passwords, or the V-tech kid’s toys which leaked many pictures of children using them . We report and secure against these attacks when they happen, not months after the fact. These necessary measures can be taken immediately to prevent more leaks.”
BitSensor has developed so-called self-protection technology, which is built into the application itself and stops hackers in their tracks. BitSensor software analyses trace evidence and generates reports. These reports contain the attack methods which were, for example, used to steal info or manipulate financial actions. BitSensor currently employs four people.
The Belgian venture capital firm Volta Ventures sees market potential. “Many organisations still need to comply with the recently introduced law in regards to their duty of reporting data breaches. BitSensor has a solution to help institutions with their security”, says Volta’s Frank Maene.
In 2016 BitSensor received the NRC-Live price in a pitch contest.