A seed round of €2.5 million was recently secured by Muninn, a Copenhagen-based AI-driven cybersecurity company, with the help of Luminar Ventures and previous investor PreSeed Ventures.
With the growing need for threat detection and prevention tools in businesses and governments, Muninn artificial intelligence technology aims to help all types of organizations defend their networks against cyber attacks by predicting, tracing, and stopping any cyber attacks as well as diagnose that threat by offering solutions.
“We’ve witnessed a huge demand for Muninn’s technology in the market and this new investment enables us to grow at a higher rate to build on our success both domestically and internationally. We’ve tripled our revenue in just six months and expect to triple it again in the next 12.”Muninn Co-founder and CEO Andreas F. Wehowsky says.
In addition to accelerating market growth, the company plans to use the investment to strengthen its product through product development.