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Maxfield Capital invests in US project Weaved

0 29 April 2014

Russian fund Maxfield Capital has made an undisclosed investment in Silicon Valley-based company Weaved

Weaved’s mission is “to become the ‘DNS’ for the Internet of Everything”. To that end, it is developing software and services that allow devices to be securely connected via the web. The company has already helped Philips, Lorex and Astak develop wifi cameras, and partnered with Cisco to produce a networked attached storage system. 

The project has previously raised $1.8 million from CrunchFund, Core Ventures Group, Zenshin Capital and Big Basin Partners. While the value of Maxfield Capital’s investment has not been disclosed, the fund typically invests $1.5-2 million. 

A spokeperson for Maxfield Capital commented that 

“Weaved’s big selling point is its high quality encryption service, the importance of which was highlighted by the discovery of the Heartbleed Bug, a serious vulnerability in the popular OpenSSL cryptographic software library. Weaved’s encryption key is only valid for one session, and connections are always P2P.”

Maxfield Capital is oriented towards early stage projects whose products are ready/preparing for launch on the global market. It prioritises big data, new media, e-health, fintech, mobile solutions and cloud technology. Its portfolio includes Parallels, Jelastic, Qbaka and DrChrono.

Source: CNews

Top image via Shutterstock

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