Belfast IoT Security Firm Angoka Secures Seed Funding at £11.6m Valuation

Belfast-based internet of things security company Angoka Limited has raised £286.3k in a new seed funding round, bringing its estimated post-money valuation to £11.6m. The shares were allotted on 12 February 2026, with the official filing completed on 4 March 2026.

Founded in February 2019, Angoka specialises in protecting machine-to-machine communications for smart cities, advanced manufacturing, and mobility sectors. As autonomous vehicles, drones, and automated industrial facilities become more reliant on interconnected devices, the attack surface for malicious actors expands significantly. Angoka tackles these vulnerabilities by offering solutions such as machine identity management, zero trust management, and threat analysis and risk assessment. These technologies safeguard critical communication integrity and data provenance across untrusted networks, ensuring that connected devices can operate securely without interference.

The business currently employs 31 people. Its latest corporate accounts report a loss of £1.44m, a financial profile that is standard for deep tech and cybersecurity firms at this stage of maturity. Such companies typically front-load heavy research and development costs to build and test proprietary technology before scaling commercial operations.

This latest £286.3k capital injection builds upon a solid foundation of previous venture backing and grant support. Angoka previously secured a £2.4m funding round in late 2022, led by London-based 24Haymarket alongside GALLOS and Clarendon Fund Managers. In June 2025, the company also announced a £1.8m collaborative investment project, supported by Invest NI and the Advanced Manufacturing Innovation Centre, to develop specialised cybersecurity solutions for the factory of the future.

The new funding arrives during a period of intense focus on digital resilience within the United Kingdom. Corporate investment in cybersecurity has accelerated rapidly, shifting from a reactive IT expense to a proactive, board-level priority. According to a January 2026 report by KPMG, 57 percent of UK companies plan to increase their cybersecurity budgets by more than 10 percent over the next 12 months. This makes cyber resilience the top technology investment priority for UK executives this year, outpacing even artificial intelligence.

Regulatory pressures are also driving market demand. The introduction of the UK Cyber Security and Resilience Bill is forcing operators of essential services, data centres, and digital infrastructure to implement stricter security protocols and continuous compliance measures. By focusing on the underlying communication networks of smart cities and industrial systems, Angoka is strategically positioned to capitalise on these regulatory shifts and the broader macroeconomic demand for secure digital infrastructure.