Korean maritime cybersecurity company CYTUR reports that it has secured US$3.4 million (KRW 5.2 billion) in new funding following a Series A investment round.
The funding follows a Pre-A round in 2024 and saw participation from STIC Ventures and Jones & Rocket, as well as follow-on investment from Sunbo Angel Partners of the Sunbo Group.
CYTUR plans to use the capital to recruit maritime and defence cybersecurity talent, improve its ship cyber threat modelling and security verification technologies, expand its naval Maintenance, Repair, and Overhaul (MRO) and defence cybersecurity business, and enter overseas shipbuilding markets including the United States, Japan, and Singapore.
The company’s core ship cyber threat modelling technology was previously designated an Innovative Product by the Public Procurement Service of South Korea and was selected for a government-backed scale-up programme managed by the Ministry of Science and ICT (MSIT) and the Korea Internet and Security Agency (KISA) to support high-potential Korean cybersecurity companies through investment and global expansion.
Founded in 2016, CYTUR has secured contracts covering a few dozen commercial vessels, working in partnership with Rakuten Maritime, the maritime cybersecurity brand of the Rakuten Group.
These projects delivered design-stage threat modelling and ship-lifecycle security in compliance with international regulations, including the International Association of Classification Societies (IACS) Unified Requirements (UR) E26 and E27.
“This Series A round, together with our government product certification, selection for the cybersecurity scale-up programme, and commercial fleet wins, shows that CYTUR has moved beyond technology validation into full-scale market expansion,” said Jo Yong-Hyun, Chief Executive Officer of CYTUR.
“Going forward, we will pursue opportunities across commercial ship cybersecurity, naval MRO, defence cybersecurity, and shipbuilding and maritime markets in the United States, Singapore, and Europe to grow into Asia’s representative maritime cybersecurity company.”
