Startup company Sirin Labs said that it is planning to create a new smartphone that aims to combine premium performance, luxury, and strong privacy protection. The company recently closed a seeding round amassing $72 million. The smartphone created by Sirin Labs will be released in May at the company's flagship store in London.

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Sirin Labs received funding from Singulariteam founder Moshe Hogeg, Chinese social networking service Renren and Kazakh businessman Kenges Rakishev.

The company said that concerns regarding smartphone security is what fuel its desire to create a very secure device. Its product will combine the safety features of a ubiquitous smartphone will top military-grade security protocols.

Hogeg told Tech Crunch, "We managed to combine military phone and the phone for everyday use. We said: let's create the best phone we can. Let's see if we can integrate the best from both worlds without limitations."

While the features of the Sirin Labs smartphone are very interesting, the device, once released, will pick up quite a hefty price tag. Hogeg said that it should cost $10,000 to $15,000 per phone.

Hogeg added that they modelling their business strategy with Tesla, which also started by marketing cars that are expensive but slowly slashed their prices as the years pass.

Tech experts believe that Sirin Labs' smartphones will target those Fortune 500 executives rather than the regular tech enthusiast.

Ultra-secure smartphones is currently an empty market since Blackberry left some time in 2013. One of the most prolific devices in the market is the Blackphone from Silent Circle. According to PC World, the Blackphone costs $799 and in February, Silent Circle announced that it is planning to take over the void left by BlackBerry by releasing devices aimed for businessmen.

TagsSirin, Sirin Labs, Smartphone, secure phone, Smartphones, secure smartphone, smartphone security