Shield-IoT, a supplier of IoT cyber security and analytics software solutions, said that it has secured $7.4 million (about £5.5 million) in the capital in a Series A round of funding.
Among those that participated in the round were NextLeap Ventures and Bloc Ventures, as well as Atlas Ventures, Akamai Technologies, Springtide Ventures, and Springtide Capital.
Ventures, DIVEdigital, and Janvest Capital Partners are among the investors. The funds will be used to simplify and protect IoT networks on a large scale, according to the business.
By deploying the world's first Corset-AI security platform on a large scale, Shield-IoT accelerates the deployment of IoT and 5G networks at scale. According to Ramanath Mallikarjuna, Chief Strategist at Akamai Technologies, "Shield-novel IoT's approach to anomaly detection enables reliable insights at a large scale."
Provides Cyber-security Solutions To Customers
Shield-IoT is a cybersecurity company founded in 2017 by Ohad Levin and Udi Solomon that provides cybersecurity solutions to safeguard edge devices from security attacks as well as operational concerns.
In the words of Professor Dan Feldman, Chief Scientist of Shield-IoT, "Coresets compress data from n to log(n), or from 1 million to 20 data points, allowing context-free extremely accurate anomaly detection in minutes rather than hours or days."
Using Shield-IoT, service providers and IoT brands can monitor and protect their B2B IoT and IIoT networks on a mass scale, while also reducing operating expenses and generating new income streams via value-added services and other services.
Solution For Cloud-based Software
The firm does this by providing a cloud-based software solution that is simple to install and simple to manage, allowing it to safeguard any Internet of Things device or application while requiring no modifications to end-customer networks.
Today, the company's solution is being used in a variety of industries, including telecommunications, utilities, and transportation. It is also being used in manufacturing, smart cities, and government.
In the words of Udi Solomon, CEO and Co-Founder of Shield-IoT, "Shield-IoT eliminates the huge data obstacles and opens the way to a $50 billion IoT connection services industry by 2025." "Our cutting-edge technology is assisting global Internet of Things companies in their efforts to go ahead and drive IoT development."
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