CanaryBit
CanaryBit is a Stockholm-based cybersecurity company that provides a Confidential Computing Platform-as-a-Service for secure data sharing and AI workloads across regulated European industries, combining Trusted Execution Environments, Remote Attestation, and hardware-encrypted GPU support.
- Company typePrivate
- Founded2020
- HeadquartersStockholm, Sweden
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What CanaryBit does
CanaryBit, founded in 2020 and headquartered in Stockholm, Sweden, is a privately held cybersecurity company that provides Confidential Computing infrastructure for secure data sharing and processing between businesses and public authorities, with a focus on European regulatory compliance (GDPR, NIS2, DORA, EU Data Act). Its flagship offering is the Confidential Cloud Platform-as-a-Service, which combines Trusted Execution Environment (TEE) support across AMD SEV-SNP and Intel TDX with Remote Attestation and three modular services — Tower (security orchestration), Inspector (zero-trust verification), and Studio (sensitive data analysis) — to protect data at rest, in transit, and in use. The company also markets a Confidential AI solution that enables secure AI/ML workloads on NVIDIA H100 GPUs and contributes Remote Attestation support into the Proxmox VE open-source platform (versions 8.4 and 9.1). It holds the ECSO 'Cybersecurity Made in Europe' label and is a member of the Confidential Computing Consortium, ECSO, SOFF, NVIDIA Inception, ABB SynerLeap, and MobilityXlab.
The business model blends subscription-based PaaS revenue, paid proof-of-concept and pilot engagements with enterprises, and non-dilutive research funding from Horizon Europe, Vinnova, and the KK Foundation. Distribution is primarily direct enterprise sales supplemented by technology partnerships (Aruba Cloud, Supermicro) and channel reach through open-source platforms and innovation hubs. The customer base spans automotive (Volvo Cars, Volvo Group, Volvo Trucks via MobilityXlab/CoTWIN), aerospace and defence (Leonardo, which is also a shareholder), telecommunications (Ericsson), precision agriculture (T-kartor), medical research, energy, and a Fortune 500 electrification company — with most engagements still at pilot or PoC stage.
CanaryBit operates additional offices in Lund, Sweden, and Rome (via the LVenture Hub / Leonardo BIF programme). The company is small (1–10 stated employees, estimated 10–20 by 2023 with continued European expansion) and is funded through a mix of seed investment (LU Holding), strategic equity (Leonardo), EU and Swedish research grants (Horizon Europe HARPOCRATES, Vinnova ISECURE, CoTWIN, KK Foundation Circul8), and customer revenue. Recognitions include the Royal Swedish Academy of Engineering Sciences' TOP-100 Swedish Innovations (2023) and ECSO Cyberhive Matrix feature (Q1 2025).
CanaryBit firmographics
Firmographics- Name
- CanaryBit
- Legal name
- Canary Bit AB
- Website
- https://canarybit.eu
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CanaryBit is a Stockholm-based cybersecurity company that provides a Confidential Computing Platform-as-a-Service for secure data sharing and AI workloads across regulated European industries, combining Trusted Execution Environments, Remote Attestation, and hardware-encrypted GPU support.
- Ownership category
- akta.pro rank
CanaryBit industry classification
Industry- Product category
- Confidential Computing & Data Security Software
- NAICS
- Computer Systems Design and Related Services (54151)
- SIC
- Services-Computer Programming Services (7371)
- akta.pro primary industry
- Data Security & Privacy for Cloud (DLP, DSPM, Tokenization) (HDABAHAK)
- akta.pro secondary industries
- Cloud Workload Protection Platforms (CWPP) (HDABAHAB), Cloud Workload Protection Platforms (CWPP) (HDADADAC)
Keywords
Where CanaryBit is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices3 records
Markets served
CanaryBit business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- Confidential Cloud Platform-as-a-Service (PaaS): Subscription-based access to the Confidential Cloud platform providing secure data collaboration and confidential computing services. Includes Tower, Inspector, and Studio services for orchestration, verification, and analysis.
- Proof of Concept and Pilot Projects: Custom development and pilot project engagements with customers, including PoC development with partners like Leonardo and pilot programs in Automotive, Healthcare, and other industries.
- Confidential AI Services: Services for running Confidential AI workloads on NVIDIA H100 GPUs, enabling secure B2B collaboration in AI applications.
- Research and Development Projects: Funding from Horizon Europe, Vinnova, and other research programs supporting development of privacy-preserving technologies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free Trial - 1 month evaluation |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels8 records
CanaryBit product offering
Product offeringCore offering
CanaryBit provides the Confidential Cloud Platform-as-a-Service, a TEE-based infrastructure that protects data at rest, in transit, and in use. The platform combines three modular services — Tower (security orchestration), Inspector (zero-trust verification), and Studio (sensitive data analysis) — together with a dedicated Confidential AI offering built on NVIDIA H100 GPUs, enabling European enterprises to collaborate on sensitive data and AI workloads while remaining compliant with GDPR, DORA, NIS2, and the EU Data Act.
Product overview
CanaryBit offers a platform-plus-modules architecture centered on the Confidential Cloud Platform-as-a-Service (PaaS), which provides end-to-end data protection and governance for risk & security management, regulatory compliance, and trust in AI applications. The platform comprises three modular services: Tower (security orchestration), Inspector (zero-trust verification), and Studio (sensitive data analysis), which work together to orchestrate, verify, and handle confidential computing environments. These modules leverage Trusted Execution Environments (TEEs), remote attestation, and hardware encryption to protect data throughout its lifecycle. Alongside Confidential Cloud, CanaryBit provides Confidential AI solutions for securing AI operations, combining Confidential Computing processors with high-performance GPUs (NVIDIA H100) to protect AI models and algorithms deployed in Cloud, Edge, or On-premise environments. The company also contributes to open-source Confidential Computing projects (Proxmox VE AMD SEV-SNP and Intel TDX support) under the Confidential Computing Consortium.
Differentiator
Problem solved
Functional benefit
Brands
- Confidential Cloud: End-to-end data protection and governance platform for secure cloud infrastructure and confidential computing.
- Confidential AI
- Studio
- Inspector
- Tower
Products and services
- Confidential Cloud Platform Platform-as-a-Service (PaaS) providing end-to-end data protection and governance for risk & security management, facilitating compliance with data protection regulations and building trust in AI applications for next-gen B2B collaborations. Comprises modular services for orchestrating, verifying, and handling confidential computing environments.
- Tower (Confidential Cloud Tower) Security orchestration module for Confidential Cloud that verifies and enforces that only whitelisted software can access sensitive data, providing granular access control and scope-limited data processing to prevent cyberattacks in interconnected systems.
- Inspector (Confidential Cloud Inspector) Zero-trust cloud security module that verifies deployed Trusted Execution Environments (TEEs) for security and conformity assessment, with and without Confidential GPU support, used for security and compliance verification of confidential computing environments.
- Studio (Confidential Cloud Studio) Sensitive data analysis module that enables secure multi-party data collaboration across stakeholders, allowing them to leverage data (including battery, patient, and agricultural sensor data) without compromising privacy or business interests, processed through hardware-protected channels within encrypted environments.
- Confidential AI AI/ML security solution that deploys AI algorithms in Confidential Computing environments, protecting data, AI models, and algorithms from unauthorized access whether in Cloud, Edge, or On-premise, using high-performance GPUs (NVIDIA H100) combined with Confidential Computing processors.
Quantifiable outcome
- 155 applicants from 24 countries - CanaryBit selected for MobilityXlab batch 10
- +3 more outcomes
Companies that use CanaryBit
Customer profileNamed customers11 records
Segments8 records
Ideal customer profiles2 records
CanaryBit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature8 records
CanaryBit partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Aruba CloudcoreStrategic partnership combining Aruba's certified EU-based infrastructure (Italian data centers) with CanaryBit's Confidential Computing solutions for European digital sovereignty. The alliance enables sensitive data to be processed securely within Europe's jurisdiction, free from external dependencies. Collaboration includes GPU-powered Confidential AI, Trusted I/O, and next-generation secure infrastructures.
- CoTWIN Project Partners (Volvo, Ericsson, City of Gothenburg, AstaZero)coreCoTWIN (Collaborative Digital Twins for Smart Mobility) project funded by Vinnova led by MobilityXlab. Volvo trucks equipped with 5G antennas capture road infrastructure video, securely transmitted over Ericsson network and processed in CanaryBit's encrypted environments. Partners include Volvo Group, Ericsson, City of Gothenburg, AstaZero/RI.SE, and MobilityXlab.
- ProxmoxcoreCanaryBit played pivotal role in enabling AMD SEV-SNP Remote Attestation support in Proxmox VE 8.4, and Intel TDX support in Proxmox VE 9.1. Proxmox is a European open-source IT infrastructure software provider with over 1.5 million hosts and 200,000+ active community members.
- ECSO (European Cyber Security Organisation)coreProud member of ECSO and supporter of Cyberhive initiative. ECSO unites 290+ European cybersecurity stakeholders including large companies, SMEs, startups, research centres, universities, end-users, operators, associations and national administrations. Goal is to promote and increase visibility of European cybersecurity companies on global market.
- SupermicrocorePartnership agreement to orchestrate and deliver confidential processing environments. CanaryBit's Confidential Cloud tooling orchestrates and verifies secure processing environments for AI, Cloud, Edge, HPC and enterprise applications. Supermicro provides optimized server platforms including GPU A+ Servers with NVIDIA H100, IoT A+ Servers with AMD EPYC 8004, and Blade servers with Intel Xeon.
- NVIDIA Inception ProgramcoreMembership in NVIDIA Inception Program designed to help startups evolve faster through cutting-edge technology. Provides access to technical tools, latest resources, and opportunities to connect with industry leading experts and AI-driven organizations. Supports integration of Confidential Computing, AI and Privacy-Enhancing Technologies.
- ABB SynerLeapcoreMember of ABB's innovation growth hub creating ecosystem where ABB can utilize and enable technology companies to grow and expand globally. CanaryBit will collaborate with ABB to bring end-to-end data protection to ABB's business units and partners, initially exploring security improvements for ABB's data infrastructure with new hardware and privacy-enhancing technologies.
- SOFF (Swedish Security & Defence Industry Association)coreActive member of SOFF facilitating cooperation between members to operate in Sweden and enhance market accessibility and capacity to export and partner globally. Focus areas include Cyber-Defence, Defence, and Societal Security. SOFF has 200+ member companies employing 22,500 individuals with €5.5 billion annual turnover.
- MobilityXlabcoreCanaryBit selected as one of eight startups for batch 10 of MobilityXlab programme, aiming to co-create solutions with mobility industry leaders: CEVT, Ericsson, Polestar, Veoneer, Volvo Cars, Volvo Group, and Zenseact. Competition was tough with 155 applicants from 24 countries. Collaboration includes two pilot projects with global partners in Automotive industry.
- LVenture GroupminorAccess to LVenture Hub co-working space in Rome near Termini Central Station through Leonardo BIF Acceleration Programme. LVenture Hub is biggest innovation hub in Italy with 130+ accelerated startups and 10 exits. LVenture Group is a holding company listed on Italian Stock Exchange.
- HARPOCRATES Consortium (Horizon Europe)coreCanaryBit joined HARPOCRATES project funded by Horizon Europe to create next generation of privacy-preserving data analytics services. Consortium comprises 13 universities and university hospitals, SMEs and regional administration bodies throughout Europe. Project focuses on privacy-preserving machine learning, federated learning, and secure computation for medical research and digital threat intelligence.
- Confidential Computing Consortium / Linux FoundationcoreJoined CCC and Linux Foundation alongside major hardware vendors, cloud providers, and software companies like Intel, Arm, Microsoft, Google, Meta. Goal is to accelerate adoption of Trusted Execution Environment (TEE) technologies and standards, facilitating adoption of TEEs combined with EU regulations on Data Protection and Data Collaboration.
- Gaia-X SwedenminorMember of Gaia-X Sweden hub together with Swedish international big players, country's Administrative Regions, and other companies, supported by the Swedish Tax Authority.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
CanaryBit competitors and assessment
Company assessmentDirect peers
- Fortanix: US-based confidential computing platform provider (Data Security Manager, Runtime Encryption) serving enterprises with enclave-based key management and confidential AI. Comparable in product architecture (TEE orchestration, attestation) and target verticals including regulated industries.
- Edgeless Systems: German confidential computing startup offering a confidential Kubernetes platform (Constellation) built on TEEs. Directly comparable to CanaryBit's Confidential Cloud platform as a European specialist targeting similar regulated workloads and TEE-based data-in-use protection.
- Anjuna Security: Confidential computing platform (Anjuna Confidential Cloud) that creates hardware-isolated enclaves across public clouds. Closely comparable to CanaryBit's Confidential Cloud platform in technical approach and enterprise GTM motion.
Emerging players
- Opaque Systems: Confidential AI and analytics platform combining TEEs with cryptographic computation. Directly overlaps with CanaryBit's Confidential AI offering, particularly around secure multi-party data collaboration and AI/ML on encrypted data.
- Inpher: Privacy-preserving computation (secret computing) platform for secure analytics and ML on encrypted data. Overlaps with CanaryBit's Confidential AI and Studio products, especially for multi-party data collaboration scenarios.
- Duality Technologies: Privacy-preserving data collaboration platform using homomorphic encryption and secure computation. Comparable to CanaryBit's Studio multi-party data collaboration use cases, particularly in regulated industries.
- TripleBlind: Privacy-enhancing computation API for secure data and AI collaboration across enterprises and jurisdictions. Comparable to CanaryBit's multi-party data collaboration offering, targeting regulated industries with sensitive data sharing requirements.
- Profian: European confidential computing specialist offering Enarx, an open-source framework for running applications in TEEs. Comparable European positioning, open-source ethos, and focus on attested workloads.
Broad incumbents
- Google Cloud (Confidential VMs): Hyperscaler with Confidential VMs on AMD EPYC and NVIDIA H100 GPUs plus Confidential Space. Competes with CanaryBit on the same TEE primitives, particularly for AI workloads CanaryBit targets via Confidential AI.
- Microsoft (Azure Confidential Computing): Hyperscaler offering native Confidential VMs (AMD SEV-SNP, Intel TDX) and attestation services. Directly overlaps with CanaryBit's underlying TEE workloads and represents the principal competitive alternative for enterprises evaluating confidential computing stacks.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
CanaryBit social profiles
Digital presenceCanaryBit compliance and trust
Trust signalCompliance1 record
CanaryBit financial estimates
Financial estimateRevenue estimate
Valuation estimate
CanaryBit leadership team
Management profileNumber of profiles
Profiles3 records
CanaryBit funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CanaryBit M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CanaryBit
What does CanaryBit do?
CanaryBit provides the Confidential Cloud Platform-as-a-Service, a TEE-based infrastructure that protects data at rest, in transit, and in use. The platform combines three modular services — Tower (security orchestration), Inspector (zero-trust verification), and Studio (sensitive data analysis) — together with a dedicated Confidential AI offering built on NVIDIA H100 GPUs, enabling European enterprises to collaborate on sensitive data and AI workloads while remaining compliant with GDPR, DORA, NIS2, and the EU Data Act.
Is CanaryBit a public or private company?
CanaryBit is a private company. It is classified as venture growth investor backed and is currently operating.
When was CanaryBit founded?
CanaryBit was founded in 2020. It employs 11 to 50 people.
Where is CanaryBit based?
CanaryBit is headquartered in Stockholm, Sweden, in the Europe region.
How does CanaryBit make money?
Four revenue lines are on record. Confidential Cloud Platform-as-a-Service (PaaS) is the primary driver. The others are proof of Concept and Pilot Projects, confidential AI Services and research and Development Projects.
Who are CanaryBit's main competitors?
Direct peers on record are Fortanix, Edgeless Systems and Anjuna Security. Emerging players are Opaque Systems, Inpher, Duality Technologies, TripleBlind and Profian. Broad incumbents are Google Cloud (Confidential VMs) and Microsoft (Azure Confidential Computing).
Does CanaryBit have an API?
No public API is recorded for CanaryBit.
What industry is CanaryBit in?
CanaryBit's product category is Confidential Computing & Data Security Software. Its primary akta.pro industry code is HDABAHAK, Data Security & Privacy for Cloud (DLP, DSPM, Tokenization), with a secondary code of HDABAHAB, Cloud Workload Protection Platforms (CWPP). Its NAICS code is 54151 and its SIC code is 7371.