$5 Million Round for US Start-Up nCrypted Cloud

The Maxfield Capital fund, established with the participation of Russian billionaire Viktor Vekselberg’s companies, has acted as the main investor in a $5 million round of investments in US service nCrypted Cloud LLC to protect data in the Internet storage facilities, the fund said in a statement.

Law on Internet storage to come into force in 2016.

The storage facilities contain such files as Dropbox, Google Drive, OneDrive, Box and others.

Apart from Maxfield Capital, the deal involved business angels from Microsoft, Cisco, Reveal Imaging and Broadcom.

The nCrypted cloud service was set up in 2012 by businessman Nicholas Stamos and Internet security expert Igor Odnovorov. The company patented its own technology to protect data for popular cloud storage facilities when they are used in corporate purposes.

The system ciphers data, tracks which of employees asks for access to them and stores history of actions. nCrypted cloud works as an add-in to the existing cloud services.

nCrypted Cloud’s system has more than 10 million ciphered files.

Maxfield Capital was set up in 2013 by businessmen Alexander Turkot, Oleg Kuzhikov and Alexander Lazarev and focuses on investments in IT projects at early stages of development.