Firm on a mission to develop next-generation technology as its team expands

Leeds-headquartered technology business, Optalysys, is planning to create up to 30 new roles over the next 12 months having recently closed a £21m Series A funding round.

Some of the new roles will be based in the South West thanks to a new office in the region.

The company aims to revolutionise how data is protected and processed.

It is developing new hardware which it says will massively accelerate computing processes on encrypted information, allowing data to remain completely secure at all times.

It should open the way for enhanced data security and the advancement of AI and other workflows on sensitive datasets, with relevance to a range of industries, including financial fraud detection and advanced processing of medical data.

Dr Nick New, co-founder and CEO of Optalysys, said: “This is an exciting time for us. Having secured investor support, we are now growing at pace and see huge potential in what our technology has to offer.

“Leeds and the wider region has an array of talent and resources, including world-class universities and a supportive ecosystem for entrepreneurial businesses – we feel very much at home in this vibrant city.”

The company is now launching its first cloud-based platform, partnering with other service providers via its Accelerator program, to enable the development of practical applications of this new technology.

Optalysys is currently expanding its workforce, creating more highly skilled jobs. Recent expertise added to the team includes Sonal Sidpara, who joined as head of people, as well as multiple software development roles.

The company is also opening a satellite office in Bristol, focusing on the design of the electronic stages of its new processing chip and the embedded software.