IOT NEWS

Industrial IoT News

Industrial IoT Home

ShieldIOT Raises $3.6 Million Seed Round

By Ken Briodagh
September 26, 2019

ShieldIOT, an Internet of Things (IoT) cybersecurity software company, has announced that it has raised $3.6 Million in a Seed funding round, led by innogy Innovation Hub, the accelerator and venture capital arm of innogy SE, a German energy company. The round was joined by additional new and existing investors including Janvest Capital Partners, Danmar Capital, Minvest and private investors.

Founded in 2017 by cybersecurity and big data analytics industry experts, Udi Solomon and Ohad Levin, the Israeli-based company leverages innovative Coreset-AI technology to help service providers protect large-scale complex IoT networks.

“The IoT is going to shape the future of many industries, with the energy system chief amongst them,” said Dr. Christof Kortz, Director, Strategic Cyber Security Venturing, innogy Innovation Hub. “The IoT enabled energy system will face new multi-layered and complex security challenges. In ShieldIOT, we have found a company with exciting technology that is designed to secure any IoT device in any topology at scale. We are impressed by the ShieldIOT team’s vision and the strong business traction they’ve generated with customers and partners across different IoT domains such as smart cities, connected buildings, connected transportation, and smart grid security.”

ShieldIOT’s end-to-end AI-based software security platform is designed to enable service providers and utilities to secure and manage the security of any IoT device, application, or network, across different verticals while generating new revenue streams.

“The Internet of Things is a new chaotic sphere, characterized by countless different devices and applications, across various IoT networks and protocols. Many of these devices were not designed with security in mind, are cost-sensitive and lack the minimum resources required for performing security functions,” said Udi Solomon, CEO, and Co-founder, ShieldIOT. “Ultimately, all IoT devices connect to the network center either directly, for example over cellular networks, or indirectly via a dedicated gateway. ShieldIOT’s secures both channels while delivering up to 20 times reduction in false alarms, and without the need for any network changes or costly hard-to-find security expertise.”


Ken Briodagh is a storyteller, writer and editor with about two decades of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Editorial Director

SHARE THIS ARTICLE
Related Articles

New Collab Between Scanbot SDK and Cypher Robotics Set to Automate Wearying Warehouse Inventory Processes

By: Alex Passett    3/26/2024

Scanbot SDK and Cypher Robotics have officially partnered to streamline warehousing and inventory cycle counting processes.

Read More

Digi IX40: Details About this 5G Edge Computing IIoT Cellular Solution for Industry 4.0

By: Alex Passett    3/20/2024

Earlier this month, IoT/IIoT connectivity products and services provider Digi International announced the market launch of Digi IX40.

Read More

Bear Robotics Secures $60M in Series C Funding Round, Supported by LG Electronics

By: Alex Passett    3/18/2024

Last week, Bear Robotics announced the completion of a $60 million Series C funding round, which was led exclusively by LG Electronics.

Read More

Industrial Cybersecurity Forecasting, Courtesy of Kaspersky

By: Alex Passett    3/15/2024

Kaspersky recently presented an industrial cybersecurity review for a number of international entities, outlining key cybersecurity challenges for ind…

Read More