Lithuanian cybersecurity startup CBRX raises €540k to accelerate European expansion

Lithuanian cybersecurity startup CBRX has secured €540,000 in pre-seed funding, marking a significant step in its mission to expand across the European Union. The investment will enable CBRX to further develop its cloud-based cybersecurity platform, enhancing its capabilities and reach within the European market. This development underscores the growing importance of cybersecurity within the EU's digital landscape. The funding round saw participation from several investors, including Coinvest Capital, which contributed €270,000, along with Scalewolf, Plug and Play Tech Centre, and Firstpick. CBRX’s AI-powered platform is designed to assist managed service providers (MSPs) in transitioning into managed security service providers (MSSPs) by automating incident management, threat monitoring, analysis, and customer support. The startup plans to use the majority of the funds to strengthen its presence in key European markets, particularly the DACH region and the Nordics, as well as invest in product development, especially AI enhancements. This investment is particularly relevant as traditional IT service providers are increasingly entering the cybersecurity field. CBRX aims to enable these providers to offer cybersecurity services without significant upfront investments or large expert teams, accelerating their market entry. This focus aligns with the EU’s efforts to enhance digital resilience and promote a safer digital environment. By democratizing access to advanced security technologies, CBRX is contributing to building a safer Europe. CBRX also plans to grow its team, focusing on recruiting product development and AI specialists to support the platform's evolution. This strategic growth aims to allow MSPs to deliver advanced cybersecurity services more efficiently, further solidifying CBRX's role within the European cybersecurity ecosystem.