Polish fund Impera Alfa invested in Ukrainian project Hideez

March 12, 2021

The Ukrainian company Hideez has attracted investments from the Polish Impera Alpha fund to develop a new product, Hideez FIDO Key.

Hideez – is a company that produces universal human identifiers for the digital and physical world. The company was founded in 2016 by Ukrainians Oleg Naumenko, Denis Zaliznyak, and Andrey Konkov, and has already attracted investments from Concorde Capital, UUI ventures, and the ICU investment group.

Hideez FIDO Security Key is a hardware token for simple and secure authentication without a password, which can be used in all browsers and platforms that support the FIDO standard. The key is a universal identifier on which you can store passwords for various PCs, RFID-controlled doors, computer programs and web services, and can also be used to store and apply digital signatures. Hideez’s comprehensive solution includes a token, a client application and a server for managing credentials. The device eliminates phishing risks and improves employee productivity in the financial sector, healthcare facilities, production lines, retail and logistics. Hideez FIDO Security Key is the fourth product of the company, in the development of which Impera Alpha has invested 250,000 EUR.

Hideez has already become a member of the FIDO Alliance and has certified its product according to FIDO U2F and FIDO2 standards.

Totally, Impera Alfa, in a strategic partnership with Radar Tech, reviewed more than 40 Ukrainian startups, 10 of which got into the second round of negotiations. Hideez approached all of the fund’s criteria: perspective, innovativeness, scalability.

“The cybersecurity market today is $ 175 billion and it is supposed to grow rapidly by an average of 8% per year at least, which increases the popularity of password manager programs, the functionality of which, among others, includes a universal digital key Hideez FIDO Key. In addition to the main criteria that we look at when communicating with startups, we also noticed that the founder of the company, Oleg Naumenko, has already demonstrated the ability and understanding of how to start a project from scratch and turn an idea into a successful business. That is why it was interesting for us to support the new product of the company ”, – says Adam Vojacki, Managing Partner of Impera Alpha.

Recap, the investment fund Impera Alpha previously announced its intention to invest 2.5 million euros in Ukrainian startups in the early stages. The fund’s strategic partner in Ukraine is Radar Tech. Impera Alpha and Radar Tech continue to look for investment-attractive startups, focusing on agritech areas. AI, blockchain, fintech, insurtech, cleantech and energy.

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