Vawlt, the spinoff from the Faculty of Sciences of the University of Lisbon and LASIGE (unit R&D), created by Alysson Bessani, Ricardo Mendes and Tiago Oliveira, raised 500 thousand euros to develop its product, which will allow companies to have full control and privacy over their data stored in a cloud-of-clouds.
Lisbon, 15 May 2019- Vawlt Technologies is the first startup to raise investment from the Venture Capital firm’s most recent fund. Armilar Venture Partners is investing 500 thousand euros out of the 60 million euros fund that aims to help develop companies looking to commercialize the results of research output – in particular those based out of Portugal, but also more broadly, in Europe. With its first closing announced last February with over 45 million euros raised, the FCR Armilar Venture Partners TechTransfer Fund is the first of its kind in Portugal and the fifth fund launched by Armilar, a firm with a 19-year-old history of investing in national and international startups.
Vawlt Technologies is the result of several years of internationally acclaimed research, conducted at the Faculty of Sciences of the University of Lisbon, to develop a multi-cloud solution that encrypts and stores data according to the users’ needs, distributing it across different public cloud services (such as those provided by Amazon, Microsoft, etc.). After launching a consumer-oriented pilot last October, the startup will use this investment to focus on the enterprise market, to provide a solution that will raise its customers’ safety standards for cloud data storage, with added benefits such as an increased level of reliability and availability of the data, the elimination of cloud vendor lock-in and an improved balance between costs and performance of data storage services.
Vawlt Technologies SA is a spinoff from the Faculty of Sciences of the University of Lisbon and LASIGE (unit R&D), a company founded by researchers of that school with the objective of commercializing the output of several years of internationally acclaimed research work – partially supported by the European Commission, through the Horizon 2020 program with the projects DiSIEM (700692) and SUPERCLOUD (643964) – in the scope of cybersecurity and computer data access.