Eversheds Sutherland advised EEC Magenta on investment in cybersecurity technology owner ICsec S.A.

ICsec S.A. announced completion of multimillion round investment in which EEC Magenta was an investor. ICsec is company specializing in industrial cybersecurity. EEC Magenta will allocate funds to the development of the key product SCADVANCE XP - an industrial network monitoring system. In legal matters EEC Magenta fund was advised by team of VC lawyers of Eversheds Sutherland Poland consisting of Michał Karwacki (partner), Natalia Burchardt (Senior Associate), Małgorzata Deruś (Lawyer), Kamil Ciodyk (Lawyer) and Anna Wesołowska (Lawyer).

„We are glad that the EEC Magenta Fund has invested in domestic technology that will contribute to increasing the stability and security of the industry. The EEC fund is becoming a leader in investments in technologies digitizing the Polish economy” - says Konrad Sitnik, Partner at EEC Ventures.

ICsec key product SCADVANCE XP is the first Polish IDS system for industrial networks. SCADVANCE allows to detect anomalies and cyber threats in industrial automation networks before they cause irreparable damage.

„It is a unique solution. Thanks to it, we can provide security to even most complex and modern factories and older types of industrial installations. In addition, we allow companies to meet the requirements of the act on the national cybersecurity system” - says Robert Juszczyk, President of ICsec S.A.

EEC Magenta is the largest Polish CVC firm set up by EEC Ventures in partnership with PFR Ventures, NCBR (The National Centre for Research and Development) and Tauron Polska Energia within the framework of the PFR NCBR CVC program. EEC Magenta manages two venture capital funds with capitalization of PLN 210 million. EEC Magenta is focused on the financing of digitalization in the energy sector, in industry and the circular economy.