PGNiG Ventures invested in a cybersecurity systems manufacturer

The PGNiG Ventures fund has acquired a stake in ICsec, a Polish manufacturer of cybersecurity systems for industry. Investment value: PLN 4 million. The system developed by ICsec allows to detect anomalies and cyber threats in industrial automation networks and prevent their negative effects. It uses big data, machine learning and artificial intelligence mechanisms. Monitoring and detection of cyber threats is done in real time.

The value of the ICsec share issue addressed to PGNiG Ventures sp. z o.o. was PLN 4 million. The total value of the investment after the second round planned for 2021 may total PLN 8 million. In line with the fund's investment policy, PGNiG Ventures sp. z o.o. will hold a minority stake in ICsec’s capital. This is the first investment by the PGNiG fund acquired through a call that began in March 2020. The maximum investment horizon is 5 years.

ICsec intends to use the funds raised primarily for commercialization of its solutions, further research and development, sales and marketing activities, but also for own contribution to projects co-financed by EU or national funds, which the company successfully uses.