This project was submitted in the following language: English (en).
Seal of excellence

Project description

Capricode SyncShield is cyber security technology, which offers a state of the art tool for automating centralized management, monitoring and securing for any connected devices.

Capricode’s SyncShield focus in this project is for automotive and industrial device and component manufacturers. In those markets the need for cyber security assurance and dynamic Over-the-Air updating is urgent and evident. Software as critical part of value chain in automotive and industrial industry is becoming of utmost importance for user experience. Capricode’s objective with support the project funding is fast expansion in automotive, industrial market and scale up!

Country, Region

Finland [Pohjois-Pohjanmaa]

Start date

June 2018

Estimated project cost

EUR 2.2 million

Sector

Other Digital, including Content and Services

Vehicles and Transport Systems

Asset ownership

Private

Project type

Operational

Project status

Construction-started

Revenue type

Market-based

Expected Jobs created

311

Economic rationale / Business Model

Fast growing automotive service market brings new business models such as car sharing, creating need for dynamic Over-the-Air functionalities that are part of our solution.
Market size is in tens of billions and growing fast. Our target is to gain significant share by the year 2022, 311 Million euro in Europe, creating indirectly thousands of new jobs and hit hard against non-European competitors. We aim to become a game changer in global market where our ultimate business opportunity is more than 7 000 Million euro.

Financing details

Project financing secured: EUR 0 million (0 %)

Self participation: EUR 0 million (0 %)

Financing source: Private

Project additional information

We have excellent traction as we have already over 1 million devices connected. Also, our business model is very scalable and flexible. We can automate and digitalize manual processes and at the same time improve connected device cyber security and management and bring savings of millions of euros per year for each of our customers.

Publication: 07/09/2018 | Last update: 07/09/2018

The Commission gives no warranty and makes no representation, whether expressed or implied, that the Project Information is error free. The Project Information is provided without any guarantees, conditions or warranties as to its accuracy.