MagicCube, a software-based security platform for payments, identity, and digital assets, has closed the second tranche of its $10 million funding round with a strategic investment from e& Capital, the investment arm of the UAE-based global technology group e&. The round’s first close included payments technology company Verifone as a strategic investor, alongside existing backers Bold Capital Partners and Mosaik Partners.
MagicCube’s Software Defined Trust platform secures payments, digital identities, and AI-driven services across smartphones, tablets, vehicles, self-checkout kiosks, and IoT devices without reliance on hardware security components. The platform is designed to operate across clouds, devices, and jurisdictions, giving governments, banks, and enterprises control over how and where their critical data and AI models are protected. As sovereign funds, telecoms, and hyperscalers accelerate investment in next-generation compute infrastructure, the company positions its platform as a neutral, hardware-independent trust layer that supports regulatory compliance and operational resilience across borders.
The investment comes as the Gulf region emerges as a major hub for AI infrastructure and digital innovation. For e&, the deal reflects a broader strategy of backing technologies that strengthen trusted digital infrastructure across high-growth markets. MagicCube is headquartered in Cupertino, California.
KEY QUOTES:
“As more sensitive workloads move across cloud and edge environments, organizations need flexible, software-based security that can support resilience, compliance, and scale. Our investment reflects e& capital’s focus on backing technologies that strengthen trusted digital infrastructure and open new opportunities across high-growth markets.”
Eddy Farhat, Executive Director of Corporate Ventures, e& capital
“Following Verifone’s support — and at a time when the Gulf is shaping the future of AI and digital infrastructure — having e& in our corner is both a powerful endorsement and a strategic signal. Together with e&, we’re building secure identity and AI rails not tied to any single hyperscaler, hardware vendor, or jurisdiction.”
Sam Shawki, CEO and Co-Founder, MagicCube
