July 27, 2022

Cybersecurity Made in Italy: €5 million round for Gyala

The capitalization will go to intensify the research and development and marketing projects of the Italian cybersecurity startup that offers SMEs and large companies military-grade cyber protection.

A €5 million equity funding round the one just closed by Gyala, an Italian deeptech specializing in cybersecurity. The startup has developed a platform that is able to integrate and operate in different cyber defense domains such as XDR, OT and NTA (Extended Endpoint Detection and Response, Operational Technology and Network Traffic Analysis). Gyala's solution covers end-to-end cybersecurity needs of companies, in fact, thanks to artificial intelligence and machine learning algorithms it automatically analyzes and blocks unusual behaviors of IT infrastructure components protecting the company from attacks.

The software developed by Gyala is already adopted by power plants, SMEs, healthcare companies and hospitals this is because since the solution is modular it can be used by a wide range of clients with various levels of technology coverage as well as in-house expertise.

The company, led by Gian Roberto Sfoglietta, Nicola Mugnato and Andrea Storico, finds its origins in research and development projects carried out as part of the National Military Research Plan (NPRM), which enabled Gyala to build the platform dedicated to cyber defense.

CDP Venture Capital, through Fondo Evoluzione, is leading the round, Co-investors in the deal are Azimut Digitech Fund of Azimut Libera Impresa SGR, with Gellify as advisor, as well as a club deal IAG (Italian Angels for Growth). The capital raised is earmarked for the implementation of the business plan, which includes increasing the team's headcount especially in research and development as well as supporting major investments in marketing to strengthen the company's market presence.

"The entry of highly qualified investors demonstrates the strength of our intuition," says Andrea Storico, President and Co-founder of Gyala, "we have chosen to invest in cybersecurity and in particular in the implementation of products and solutions, making ourselves ready at the right time, to support the strategic objectives defined by the National Cybersecurity Agency and counter the continuous growth of cyber-attacks that companies and infrastructures are experiencing. The goal of this plan is to position Gyala among the leading national vendors, and beyond, of cybersecurity solutions."

"Investing in Gyala means supporting our country's Research in a highly strategic sector such as cybersecurity" comments Mario Scuderi, Head of CDP Venture Capital's Evoluzione Fund, "The company was born with a very solid team, with know-how that comes from Military Research and develops a completely Italian solution, based on artificial intelligence and machine learning working on a predictive algorithms of dynamic risk assessment from experiences in critical infrastructures. We are proud to contribute to the growth of a potential European cybersecurity gamechanger."

Paolo Angelucci and Mario Venezia, IAG Champion in this investment: "The technology developed by Gyala, already intercepted at the time by the National Military Research Plan (PNRM), has demonstrated its full capability to protect critical infrastructures, both military and civilian. We are convinced that the portfolio of solutions offered by Gyala will be able to play a leading role in the landscape - Italian and international - of cybersecurity, especially after the recent trends that define the coming years as significant for digital security. The presence of valuable shareholders will enable Gyala to strengthen its business and present itself on the market with greater strength."

"We chose to support Gyala's development because it offers an effective solution to a concrete issue for the technological development of the country system. In fact, the important growth in digital must be accompanied by technology that can protect the security of data and web surfing for both businesses and consumers. Thanks to its cutting-edge offerings, Gyala has proven to be among the best in the cyber protection segment and has the necessary elements to become a leader in the sector," comments Fabio Nalucci, Investment Advisor of the Azimut Digitech Fund.

For CDP Venture Capital, the operation was followed by Mario Scuderi and Gregorio Gaspari, respectively Head and Analyst of the Evoluzione Fund.