Advanced Data Protection Developer, Dyadic, Wins a Coveted Horizon 2020 SME Instrument Grant

Cyber-security company earmarks funds to enhance technology designed to combat data breaches by eliminating the single-point-of-failure in all digital security systems
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TEL AVIV, Israel - Feb. 18, 2015 - PRLog -- Dyadic Security Ltd., the visionary cyber security company pioneering a unique next generation digital assets protection solution, has announced the winning of a prestigious Horizon 2020 Phase 2 SME Instrument Phase 2 Grant of €2,000,000. Dyadic’s grant is in the ICT category (Information and Communications Technology). This was the most competitive category, attracting the highest number of applicants and focusing on Open Disruptive Innovation. Funds were granted to 78 companies only, out of 580 applicants in total. Dyadic was the only Israeli company to receive the grant, out of 17 applicants. The SME instrument is a new program dedicated to filling the gaps in funding for the early stages of research and innovation, and accelerating the exploitation of innovation. This was the first round of grants offered in the program.

Founded on the science of Cryptography by world-leading cyber-security experts, Dyadic’s unique breakthrough Distributed Security Module (DSM) is the first to solve the inherent problem of a single-point-of-failure in all current security systems. It enables enterprises and organizations to fully protect their digital assets by randomly splitting digital keys and credentials across servers to ensure that they are never in any single place at the same time from where they can be stolen. The solution offers the highest level of security, in an easy to use software-only solution. Dyadic provides protection even in the event of a breach, no matter what data, applications, or platforms are in use.

“We are very proud to have been selected for an illustrious Horizon 2020 SME Instrument grant”, says Professor Yehuda Lindell, Chief Scientist and Co-Founder of Dyadic: “These funds, and the vote of confidence and support that they express from the European Commission, will enable us to support further product development, enhance our technology platform and expand our market presence. Our mission is clear: we aim to help create a more secure corporate world and change the way companies protect their data, by providing innovative next generation security solutions in a smarter, more efficient, flexible and affordable way”.

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Dyadic also successfully closed a first round of funding from Innovation Endeavors, an international evergreen VC fund, with an investment round of $3,000,000 to support further technology development and revenue growth.

Yuval Shachar, Investment Partner at Innovation Endeavors added: "Innovation Endeavors is excited to partner with Dyadic, given their world-class team and breakthrough cryptographic approach to data center cyber security. We are confident in Dyadic's strategy and committed to supporting the company’s growth and ongoing success within the global cyber security industry".

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About Dyadic
Dyadic is a visionary cyber security company, thanks to its ability to protect all digital keys and credentials of any size and in any scenario, securing them from being stolen. Through its cutting-edge Distributed Security Module (DSM), Dyadic helps companies gain the highest possible level of security. By enabling companies to protect their digital assets, no matter what data, application, or platform is used, Dyadic is reinventing the security landscape with a smarter, more efficient way to protect data, even in the event of a breach.

Dyadic is driven by world-leading cyber security experts, highly skilled in the science of Cryptography. Its products meet the highest standards of security and compliance.

For more information, visit http://www.dyadicsec.com or follow the company on Twitter @DyadicSec

About EU SME Instruments
Horizon 2020 funds high-potential innovation through dedicated SME instruments, which offer seamless business innovation support under Leadership in Enabling and Industrial Technologies (LEITs) and the Societal Challenges Themes.

Provided with about € 3 billion in funding over the period 2014-2020, the SME Instrument helps high-potential SMEs to develop innovative ideas into products, services or processes that are ready to face global market competition. Available to SMEs only, the new scheme has opened a new highway to innovation through phased, progressive and complimentary support.
http://www.ec.europa.eu/programmes/horizon2020/en/h2020-s...

About Innovation Endeavors
Innovation Endeavors combines an evergreen VC fund with a unique approach to venture creation to help entrepreneurs build lasting companies that will have significant financial and human impact. We invest in entrepreneurs working at the intersection of emerging technologies and growing global markets, combining venture funding, a strong international community, and the support of a passionate, collaborative team. We partner with people who using technology in ways that will measurably change the world.

With offices in Palo Alto and Tel Aviv and backed by former Google chief executive officer Eric Schmidt, we have the ability to rally behind entrepreneurs and support them as they develop first-of-their-kind technologies to solve challenging problems in large markets globally. http://www.innovationendeavors.com/


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For more information contact:
Avner Mor, CEO- Dyadic
E: avner.mor@dyadicsec.com
M: +972-2132247

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Contact
Dyadic
***@dyadicsec.com
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Tags:Cybersecurity, Horizon 2020
Industry:Security, Technology
Location:Tel Aviv - Tel Aviv - Israel
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