[Funding alert] Lisbon-based Vawlt Secures €2.15 Million in Funding

A supercloud is created when data is dispersed among several cloud providers or on-premises nodes at the same time. This allows businesses to leverage the best-of-breed numerous storage environments through a single pane of glass that is intuitive, safe, and resilient by default.

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In the event of a ransomware attack, data loss, corruption, or outage, user data remains accessible at all times. With the additional funds, Vawlt plans to grow its staff and carry out its strategy for product innovation.

All data is encrypted at the client side, and only the data owner has access to the contents of the files. Never does data pass across Vawlt's servers. It moves straight between the computers of the consumers and the cloud storage.

Ricardo Mendes, CEO, Vawlt: "We're thrilled with this news. It is a testament to our commitment to enhancing data protection and sovereignty, as well as business efficiency and independence. In the current world, this is increasingly of key importance. This injection of capital will propel us into new markets and reinforce our support for channel partners. It will also fuel the continuous innovation of our product, enabling us to provide our customers with exactly what they need."

With this round, the company has raised €3 million in total capital. Lead by Lince Capital, the funding comprised two former executives from Cisco and OVHcloud, Basinghall, and Beta Capital in addition to current backers Armilar Venture Partners and Shilling VC.

Vasco Pereira Coutinho, CEO of Lince Capital, shared: "We are excited to announce our most recent investment in Vawlt. In an era of increasing concerns with data security and privacy, Vawlt's highly skilled team materialised a decade of research into a leading product in the supercloud environment, positioning the company at the forefront of the future of cloud storage. The latest evolution to Vawlt 3.0 brings an even more robust and scalable product, increasing distributors' and partners' value creation and providing us with an even more reliable and cost-efficient distributed cloud storage solution."

Andrew Irvine, Founding Partner of Basinghall: "Our choice to invest in Vawlt is based on the team's extensive technical expertise, enabling the company to offer a secure, innovative, distributed supercloud storage solution. Vawlt allows its users to efficiently migrate their data to or within a multi-cloud environment. It enables its customers to accelerate their digitisation, which aligns well with our investment thesis. We are excited to support their continued growth."

About Vawlt

Portugal-based start-up that was formed by researchers from the University of Lisbon's very active R&D group, LASIGE. They have been working on data security-related technology for the past few years because they think everyone has the right to be in charge of their own data and that businesses should handle such priceless and private assets with greater care.

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2019 May saw the founding of their company and the growth of Vawlt. Vawlt aims to become a frontrunner in cloud data migration, empowering businesses to raise security and efficiency benchmarks without sacrificing their business-critical focus.