Build38 gets three million euros and new investors
The start-up has closed its Pre-Series A financing round. The money will be used primarily to further develop the company's own technology.
Mobile security start-up Build38 receives three million euros in growth capital in Pre-Series-A. Two new investors are on board: Caixa Capital Risc and eCapital VC. The seed investor G+D Ventures also remains with the start-up. With the received capital, the start-up mainly wants to push the expansion into further markets and further develop its security solutions with AI functions.
Build38 sells digital car keys, mobile tickets, SoftPOS, a new form of mobile payment, and government-approved mobile IDs, among other products. The start-up was founded two years ago. It plans to use the money to build a new security feature that will not only protect apps from potential attacks and threats, but also predict when they might occur. "Although 2020 was full of challenges, we took the opportunity to explore our market and growth strategies and started to identify and build the appropriate sales channels," CEO Christian Schläger comments on the further goals. "Following on from this, we have already succeeded in establishing long-term customer relationships and generating business."
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