British-Israeli start-up Sirin Labs will next month launch what it claims will be the “most advanced mobile device,” combining “the highest privacy settings, operating faster than any other phone and built with the best materials from around the world.”

‘Solarin’ will retail for close to $20,000, Reuters reported, and is aimed at executives. Sirin said in a statement that “cost doesn’t influence our decision making; optimal functionality and quality do”.

Its (presumably wealthy) target audience are users “who value privacy, connectivity and uncompromised quality”.

The Android phone will run “otherwise unspecified technology two to three years in advance of the mass market” the report said, adding that co-founder and president Moshe Hogeg (pictured, left) believes thousands of executives in the US and Europe will pay the high price if it means avoiding being hacked, which can be more costly in the long run.

Launched in 2013, the company’s shareholders have committed $72 million to funding the company, of which a significant majority has been dedicated to intensive research and development, Sirin said.

Its first prototype was created (known internally as SP1) in September 2015.

According to co-founder and CEO Tal Cohen (pictured, right): “Sirin Labs has brought together a network of highly skilled suppliers and partners capable of the most intricate engineering and united by a common determination that complexity must not stand in the way in the pursuit of excellence, combined with a refusal to accept compromise.’

Solarin’s price point will pitch it against the likes of luxury smartphone vendor Vertu, although Sirin is putting privacy at the heart of its offering. It’s unclear exactly which type of technology and services will be incorporated in the new device.

Led by Fredrik Oijer, former product director of Sony Mobile, the company has research and development teams working from Tel Aviv and Sweden.

In May this year, Sirin will launch its first smartphone and flagship store in Mayfair, London, which it describes as “the natural home of the Sirin Labs’ customer.”

Sirin founders and investors are Kazakh businessman Kenges Rakishev, Israeli venture capitalist Hogeg and Tal Cohen, with additional investment from Chinese company RenRen.

The company has 85 employees based in Switzerland, Sweden, England and Israel. Its website also touts “over 150 experts worldwide exclusively devoted to research and development.”