Press release by Innovation Quarter:
Blockchain platform provider KrypC Technologies opens its European office in The Hague
KrypC Technologies, a rapidly expanding global blockchain platform provider, has selected The Hague for its European head office and made it official today during the Cyber Security Week. KrypC Technologies is headquartered in the US, has its R&D-center in Bangaluru (India), and now selected The Hague for their European expansion.
At the welcoming ceremony KrypC’s CEO Mr. Ravi Jagannathan was presented a welcoming plaque from Mr. Karsten Klein (Deputy Major of The Hague) to mark this festive occasion. The Ambassador of India, The Honorable Mr. Venu Rajamony gave an important speech during the ceremony that highlighted the warm ties between India and the Netherlands.
KrypC’s Enterprise-ready blockchain-based platforms
While being a software technology business ‘by design’, KrypC Technologies’ blockchain-based platforms help public institutions and enterprises across every industry to accelerate their blockchain journey. KrypC works with big enterprises to literally bring the advanced capabilities of blockchain within reach of decision makers, and helps them discover the power and value of blockchain-based applications for business. KrypC also attracts attention from other fast-growing technology and software ventures, which see that KrypC’s platforms and solutions help them get ‘blockchain-ready’ much faster.
The founding team of KrypC Technologies brings considerable technology and operational experience and expertise in the fields of cryptography, security, cloud computing, IoT and blockchain technology. In prior technology ventures, they founded one of the largest certifying authority providers in India, a central bank authorized mobile payments business in India, are holders of multiple patents and have been contributors to various technologies and blockchain protocols in open source.
Mr. Ravi Jagannathan said: “Blockchain is still an emerging technology, but is rapidly becoming ‘enterprise ready’. However, the technology develops so fast, and the breadth and depth of required expertise for real enterprise-ready solutions is so deep, that it becomes increasingly difficult to keep track of developments for most companies and institutions. We solve this problem by putting configurable platforms and solutions in the hands of our clients, which are built on the newest and cutting-edge blockchain protocols and cryptography frameworks.”
Furthermore, Mr. Ravi Jagannathan said: “Our clients want to get from ‘A’ to ‘B’, but for that, they don’t need to build an engine to drive the car. We have already built the car with the engine for them: They can use our products and platforms to quickly and effectively get to where they need to be.”
Expanding to The Hague
The Netherlands is an early adopter for new technology. Strategically located to serve multiple markets within Europe, and the combination of accessibility and an excellent digital infrastructure, a rich talent pool in the area of cyber security and cryptography are the key reasons why KrypC Technologies has established its European headquarter for sales, marketing and R&D in The Hague. KrypC Technologies currently has 30 staff, 20 of which are based in its R&D-center in Bangalore. The remainder are spread across the US and the Netherlands. KrypC Technologies now plans to grow its physical presences both in San Francisco (US) and The Hague.
During KrypC’s exploratory visits to the Netherlands and The Hague, they received a warm welcome from the Netherlands Foreign Investment Agency (NFIA), The City of The Hague, The Hague Business Agency, InnovationQuarter and many other investors and partners in the region. In particular Dutch tech entrepreneur and resident of The Hague, Danny Frietman from Enterprise Summit, created a warm entrance into the Dutch market and partner ecosystem. He and his business partner Mark Beermann will continue to support the expansion of KrypC Technologies.
“We highly appreciate the strong innovation culture in The Netherlands, and recognize the particular strengths of the The Hague region in the areas of cyber security, cryptography and blockchain development,” says Mr. Ravi Jagannathan, Founder and CEO of KrypC Technologies. “We are excited to work with the local business community and scientific and governmental institutions, as well as fuel the collaboration between our cryptographic and blockchain domain experts and the rich talent pool in this region. We truly appreciate the welcoming environment and support from the Municipality of The Hague, InnovationQuarter, The Hague Business Agency and many others for their assistance to us in setting up our European office. This is an exciting day for us!”
“High-growth ventures like KrypC Technologies look for access to talent and growth capital. In our meetings and discussions with them, we discovered that there is an excellent match between KrypC’s growth ambitions and talent needs, and the talent pool and access to capital that we can offer in the The Hague region,” says Chris van Voorden, Director Foreign Investments at InnovationQuarter. “We are proud that KrypC Technologies have recognized our welcoming business climate and will assist them to kick-start easily in The Hague, the region that is well known in the global community for its strong local cyber security, cryptography and blockchain capabilities which made it the perfect fit for KrypC Technologies.”
Strong ties with India
The Hague hosts a large Indian diaspora community and has had a good relationship with India for many years. To strengthen this bilateral relationship, The Hague and the state of Karnataka have signed a MoU, which actively focuses on startups, cyber security and elderly care technology. The Municipality of The Hague regularly visits Bangalore (the state of Karnataka) to implement the MoU and creates awareness for The Hague as an international city that welcomes Indian entrepreneurs and businesses. Due to the intense focus of the Municipality of The Hague and its acquisition partners, the establishment of KrypC Technologies in The Hague can be considered a result of this co-operation.
Impact Startup Fest is one of the first results of the partnership between The Hague’s startup programme and the Indian organisation Intellecap, which has forged an international partnership between The Hague, India and Kenya. This partnership offers a springboard for Dutch impact startups to explore the Indian market and vice versa.