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Md. cybersecurity firm gets backing from European electricity operator.

Byline: Daily Record Staff

Major European electricity operator Energias de Portugal (EDP) has completed a strategic investment in the Israel- and Gaithersburg-based cybersecurity companySepio Systems, company officials announced Mondays.

Terms of the investment were not disclosed.

EDP is expanding partnerships in cybersecurity to further strengthen connectivity and resilience that are vital to the infrastructure and advance new business opportunities.

Also participating in the investment is Mindset Ventures, an international venture capital firm that supports the growth and development of innovative companies that provide solutions to the relevant markets in Latin America, and the existing investors Pico Venture Partners and Founders Group.

The partnership with EDP will help Sepio Systems accelerate the development and deployment of Sepio's Rogue Device Mitigation solution among utilities, financial institutes, and large enterprises in Europe.

EDP Ventures is the corporate venture arm of EDP group, an early-stage venture capital mainly focused in Seed and Series A, aiming to support and stimulate the open innovation process in the energy sector. Currently managing +70M, EDP Ventures looks for disruptive technologies and business models focusing in renewable power technology, smart grids, energy efficiency, electric mobility, energy storage, artificial intelligence cybersecurity, digital and predictive analytics.

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Publication:Daily Record (Baltimore, MD)
Date:Mar 4, 2019
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