WISeKey, a Swiss-based leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations, today announced a substantial financial milestone.
The company has entered into Convertible Notes Subscription Agreements for up to $30m with a select group of institutional investors.
Under the terms of these agreements, WISeKey has commenced the issuance of convertible notes, initially totaling $2.5m.
WISeKey operates at the forefront of cybersecurity solutions. The company leverages its Public Key Infrastructure (PKI) for encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography. This involves advanced semiconductors designed to withstand the computational power of quantum computers, safeguarding connected devices and critical infrastructures.
The new funds will be strategically used to drive growth and development across WISeKey’s core cybersecurity business and its various strategic initiatives. Notably, WISeKey plans to continue its innovative projects through its subsidiaries such as WISeSat.Space and SEALSQ.
Founder and CEO of WISeKey, Carlos Moreira, commented, “This new funding provides WISeKey with flexible financing at a competitive cost, which is particularly valuable in the current market environment. It enables us to continue funding the growth and development of our core cybersecurity business and strategic initiatives at each of our subsidiaries.
“Specifically, WISeSat.Space remains focused on key projects, including the deployment of a low-orbit satellite constellation by 2027 by leveraging cutting-edge technological innovations, and SEALSQ is on track to launch its next-generation post-quantum semiconductors in 2025. Additionally, this financing will support our ongoing work on SEALCOIN, with a second Proof of Concept set for January 2025, which will demonstrate the transfer of tokens via satellite to IoT devices thus accelerating the token’s broader availability on digital exchanges in 2025.”
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