North West Fund for Venture Capital backs Traffic Observation via Management, a cybersecurity spinout from Liverpool University that is based on initial research from Queen's University.
Traffic Observation via Management, a UK-based cybersecurity company, has raised £350,000 ($494,000) in funding from the North West Fund for Venture Capital.
The North West Fund for Venture Capital is part of the £155m evergreen investment vehicle North West Fund. The North West Fund is financed by the European Regional Development Fund and the European Investment Bank under the European Commission’s Jeremie program.
The Venture Capital fund specifically invests in high growth early-stage and startup companies. The fund is managed by Enterprise Ventures.
Traffic Observation via Management was created by Alan Marshall from Liverpool University to exploit technology based on research originally carried out at Queen’s University. The technology monitors wifi networks, looks for additional networks operating in the area and flags abnormal activity.
The funding help the company bring its product to market and develop additional offerings.
Marshall, head of the department for electrical engineering and electronics at Liverpool University, said: “Wifi has now become ubiquitous, and is used in almost every aspect of our daily lives.
“Consequently ensuring the security of these networks and maintaining privacy for the clients that use them has become a key issue, particularly for public and open networks, where the challenge is to balance security against the convenience offered by wifi internet access.”
Doug Stellman of Enterprise Ventures said: “Traffic Observation via Management’s technology offers a proven and low-cost way for wifi providers such as hotels, banks and retailers to monitor and safeguard their networks.”
– This article first appeared on our sister site Global Government Venturing.
