Vilnius-based AI-powered cybersecurity company CBRX raises €275K

Lithuanian AI-powered cybersecurity company CBRX (formerly Cyberalert) has raised €275K in a pre-seed round from Lithuania-based ScaleWolf VC and FIRSTPICK.

Founded in Vilnius in 2023 by Kazimieras Sadauskas and Audrius Mikneviсius, CBRX has developed a cloud platform that automates the work of cybersecurity analysts, freeing up to 90% of their time. The company's solution allows them to quickly gain insight into potential cyber threats and streamline incident handling procedures. The startup also helps its clients resolve security incidents, such as protecting their digital assets and maintaining business continuity.

CBRX will use the investment to further develop its technology, bring its product to market, and hire cybersecurity engineers.

ScaleWolf invests in companies that have already developed products or services and are looking to improve their products and expand into other markets. The managing partner of the fund is Edvinas Kerza.

Firstpick is a venture capital firm and accelerator, founded by the former team of the Estonian accelerator StartupWiseGuys. The size of the fund is €20M. The initial ticket starts at €50-€200K. The partners of Firstpick are Jonė Vaitulevičiūtė, Marijus Andrijauskas, Andra Bagdonaite.