MagicCube closes strategic investment from SIF

MagicCube, which offers a software trusted execution environment platform, has closed a strategic investment from Sony Innovation Fund (SIF).

SIF joins MagicCube’s investor group which include Azure Capital, Bold Capital, Epic Ventures, NTT Data and Visa.

MagicCube aims to replace the single-function card-acceptance devices with apps secured on its platform. The company offers APIs which can easily integrate with existing infrastructure and ensures hardware-grade security.

The company offers APIs for mobile payments, embedded secure credentials, connected cars, IoT and mobile security, IoT device identity, defence and government and medical devices.

Sony Innovation Fund CIO Gen Tsuchikawa said, “Many believe that MagicCube’s hardware-free software platform has ushered in a new era in security by making it safe and easy for merchants to use any mobile or IoT device to conduct payments.

“They took an innovative and scalable approach, thereby enabling merchants throughout the world to benefit from best-in-class payment acceptance while offering a much more seamless experience for their customers. This is Sony Innovation Fund’s first FinTech investment outside of Japan and we could not be more excited to join forces with this team as they set out to democratize the way payments change hands.”

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