Hut Six

We're now entering a significant growth phase. The fact we have attracted investment from existing investors, who have chosen to exercise their rights, as well as new investors acts as an endorsement of the progress we are making.

Simon Fraser, Chief Executive Officer

Hut Six Security Ltd is a developer of software-based information security training products.

The company benefited from an initial seed-funding round in spring 2017. This was led by Sir Terry Matthews’ investment vehicle, Wesley Clover. The company has since progressed from start-up and is now in the process of scaling up.

In 2019 it raised £450,000 in a second equity funding round. Existing and new shareholders, including the Development Bank of Wales and a series of angel investors, participated in the round.

In February 2023, the Newport-headquartered developers completed a third fundraise, taking total investment in excess of £1 million.

We led the latest round, with our third equity investment of £200,000 being matched by a further £200,000 from Wesley Clover and the Waterloo Foundation.

Hut Six will use the investment to support product development, increase marketing and expand internationally. The company is also working towards National Cyber Security Centre (NCSC) accreditation for their training.