Railway cybersecurity firm RazorSecure has secured £1.3m of investment to support the UK firm’s growth programme.
Over the next five years, RazorSecure plans to expand into Europe and North America, creating at least 67 new jobs in the UK.
The funding was provided by Frontier Development Capital (FDC) from the Advanced Manufacturing Supply Chain Initiative (AMSCI) Recycled Fund, supporting businesses in the manufacturing supply chain.
Founded in 2015, RazorSecure develops and deploys cybersecurity solutions designed to protect railway systems and critical infrastructure from malicious intrusion. The company’s clients include train manufacturers and operators such as Siemens, Northern Trains, and West Midlands Trains.
“From its inception, RazorSecure has continued to grow and develop, providing much-needed cyber security solutions for established leading train manufacturers and operators, protecting railways systems, and infrastructure,” said Alex Cowan, RazorSecure CEO
“We are grateful for the previous funding provided by FDC during RazorSecure’s start-up phase, which was crucial to the growth and development of the business, and its success today. This additional support will help us to extend the reach of our cybersecurity products across the global rail market by enabling the continued investment in staff and product development.”
The company previously secured a £750,000 loan from FDC in 2018, supporting its initial start-up phase.
“This investment will allow RazorSecure to continue with its journey of becoming a leading supplier of cybersecurity products for the global rail market,” said Jack Glonek, investment director at Frontier Development Capital.
“FDC is looking forward to continuing its work with RazorSecure, and after seeing them grow over the last 5 years into a successful business, we’re happy that our support will enable further employment in such a crucial sector of the UK’s economy.”
Last year the University of Birmingham’s Birmingham Centre for Railway Research and Education (BCRRE) entered a memorandum of understanding (MoU) with RazorSecure for the improvement of railway cybersecurity.