Portuguese Power Company EDP Backs Cybersecurity Startup Sepio

Portugal’s power utility Energias de Portugal SA (EDP), which has electricity, gas, and renewable energy operations in 16 countries in Europe, has completed a strategic investment in Tel Aviv-based cybersecurity startup Cyber Sepio Systems Ltd., the companies announced Monday. The financial terms of the deal were not disclosed.

Founded in 2016, Sepio develops hardware-focused cybersecurity technology for organizations and enterprises.

Other participants in the investment include San Francisco-based Mindset Ventures and existing Israel-based investors PICO Venture Partners and Founders Group. Excluding this investment, Sepio has raised $4 million, according to Pitchbook data.

Sepio CEO Iftah Bratspiess. Photo: PR