MagicCube Announces $15 Million Investment Round Led by Mosaik Partners, Advancing the Software-Based Security Paradigm Shift
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Thursday, October 14, 2021
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MagicCube, the startup replacing security chips with software, announces $15 million round
Key Points:
- MagicCube, the startup replacing security chips with software, announces $15 million round
"We are on the verge of a huge paradigm shift when it comes to how we secure data on all kinds of devices, especially the ones used for financial transactions," said Sam Shawki, MagicCube's CEO. - The company's first product, i-Accept, was designed to disrupt the more than $70 billion yearly spent by banks & merchants everywhere on point-of-sale card readers.
- MagicCube is leading the Software Defined Trust (SDT) category with its software-based Trusted Execution Environment (sTEE) platform.
- Investors in MagicCube include Bold Capital, Epic Ventures, Sony Innovation Fund, Visa, NTT Data, Azure Capital, CVentures, and Luqman Weise Capital.