Coherent Security, a Portuguese company specialized in IoT security solutions, has reportedly filed for bankruptcy, and its website is no longer accessible. The startup was part of the Portugal Wanders portfolio and received €500,000 in public funding in 2019.
This is yet another setback for publicly funded startups, raising questions about the sustainability of investments in the tech sector. The reasons behind the company's bankruptcy remain unclear, but its closure highlights the challenges faced by deep-tech startups regarding scalability and maintaining financial stability.
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