Concept: Israeli cybersecurity solutions provider ShieldIOT has rolled out the world’s first Coreset-AI security platform. It enables the service providers, IoT brands, and integrators to secure complex connected device networks from cyber attacks. ShieldIOT claims that the product is the first to use coresets to provide anomaly detection for IoT networks. The platform can provide real-time detection and actionable alerts to users.
Nature of Disruption: ShieldIOT’s security platform is based on coreset real-time streaming anomaly detection. Coresets work by compressing data in real-time streaming mode from 1 million to 20 data points which can enable highly accurate anomaly detection in very little time. The platform analyses device communications to identify signs of cyber-attacks and operational anomalies. The security platform is deployed at the IoT network operator or service provider cloud and can protect IoT networks against threats including distributed denial-of-service (DDoS), unknown malware, ransomware, communication hijacking, node takeover, and replication, replay attacks, and data falsification. ShieldIOT claims that the new security platform is 20 times more accurate than other anomaly detection software.
Outlook: ShieldIOT’s security platform can be deployed for securing and monitoring large-scale IoT networks across multiple industries including telecommunication, utilities, transportation, and manufacturing. It is raising investments to expand its geographic presence and increase the personnel count. The startup was able to raise $7.4M in a Series A funding led by NextLeap Ventures and Bloc Ventures, Participating investors include Atlas Ventures, Akamai Technologies, Springtide Ventures, DIVEdigital, and Janvest Capital Partners. The startup plans to use the funding to expand the sales and marketing team, advance product development, and expand its operation to the North American market.