Cyber Upgrade, a Lithuanian cybersecurity startup founded by former Paysolut co-founders, has secured €650,000 in pre-seed funding from venture capital firms FIRSTPICK, NGL Ventures, and other business angels. The company aims to provide inclusive and accessible cybersecurity solutions for small and medium-sized enterprises (SMEs) and fintechs, using interactive, AI-driven technologies. Its platform includes an AI chatbot that acts as a virtual cybersecurity officer and guides each SME in implementing its own real-world cybersecurity solutions. In addition, the platform integrates an educational aspect through an interactive game-like interface to keep team members up-to-date with the latest cybersecurity practices.
With this funding, Cyber Upgrade plans to accelerate its development speed, enhance its market visibility, and refine its products. The company’s long-term goals include adding new features such as phishing drills, a “panic button” for urgent incidents, and nano services for enhanced security coverage. The founders aim to make high-level, AI-driven cybersecurity solutions available to SMEs that are affordable and adaptive to their specific needs. They bring years of experience building critical banking infrastructures at Paysolut to their current mission of providing advanced cybersecurity solutions.
