Softbank Ventures and others invest $2.78M in Korean IoT device security startup

Korean IoT security startup ‘Security Platform’ raised $ 2.78M. SoftBank Ventures Korea and Premiere Partners led the investment round.

The startup offers hardware-based device security solutions. One of the core solutions offered by Security Platform is ‘remote attestation’ of connected devices. The backend server remotely checks the connected devices for any breach or threats by hash values of each element calculated by the hardware.

The solution performs device authentication, anti-cloning, message signing, anti-forgery, secure updates with signed code. The startup also provides custom development services for integration of IoT devices. To help OEMs (original equipment manufacturers) implement ‘security by design’, the startup offers its SDK (software development kit) named Axio-Builder. The SDK consists of a development board with Secure SoC and SDK consisting of built-in security elements.

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Postscapes: Tracking the Internet of Things

French company Thales Group to buy Gemalto for $5.4B

Thales Group, French aerospace brand delivering software and services announced that it will acquire Gemalto, a company offering identity verification software. The all-cash deal is valued at $ 5.4B (€4.8B) based on 51 euros ($ 60) a share for Gemalto.

Gemalto has a strong footprint in the IoT market where it offers solutions for connectivity, security, monetization, M2M and consumer electronics. The company has customers across a wide range of industries including enterprises, industrial OEMs, consumer OEM, mobile network operators and cloud service providers.

IoT Security

Digital security has become an important market as the number of devices and customer- and partner-touchpoints increases. After the merger of Gemalto into Thales, the new division will focus on security software, biometrics, multifactor authentication and issuing secure electronic and physical ID cards. “We share the same values and Gemalto will be able to pursue its strategy, accelerate its development and deliver its digital security vision, as part of Thales,” said Gemalto chief executive Philippe Vallee.

The acquisition was finalized at a crucial stage as Gemalto received other offers too. Atos, another French firm also showed interest in acquiring Gemalto for €46/share (with an unsolicited $ 5.1 billion offer. The acquisition is expected to complete by the second half of 2018, with the only caveat being that should Gemalto receive an acquisition offer 9% higher than that of Thales Group’s $ 5.4B, the deal will stand terminated.


Postscapes: Tracking the Internet of Things

IoTA Wales Accelerator program offering £50K for IoT startups

IoTA Wales (Internet of Things Accelerator Wales) is a new accelerator program launched in Wales, U.K to provide IoT startups financial backing, access to business network and knowledge sharing.

The program is co-launched by Innovation Point, The Accelerator Network, Barclays Eagle Labs, Inspire Wales and the Development Bank of Wales. The program’s main aim is to help fund and grow small IoT startups looking to bring their products to market or grow their startup.

The program will select 10 companies per cycle and inject £50,000 against 10% equity in the startup.

Each startup also gets access to paid mentors who will guide them towards product/service commercialization and other important milestones. Each of the admitted startups also receives engineering support from Sony Manufacturing and Cardiff University, test-bed and gateways from Pinacl, and membership of Tech UK.

Apart from initial support in kind and cash, the startups will also get a chance to raise follow-on funding in April, 2018.


Postscapes: Tracking the Internet of Things

IoT device security startup Cog Systems closes $3.5M Series A

Cog Systems, an IoT device security startup from Sydney raised a $ 3.5M Series A round from the Grok Ventures led by Co-founder of software firm Atlassian.

D4 Secure Mobile – Architecture

Cog Systems primarily provides device protection and secure communication via its D4 platform offering non-bypassable full disk encryption, nested VPNs, separation kernel protection, and isolated key store.

It also provides embedded software SDKs (software development kits). The startup is targeting enterprise and government customers as it recently named Immix Group as the distributor to US Local, State, and Federal government. Customers can use the technology to secure their voice, video, and call data using Cog System’s D4 encryption technology. Mobile, gateways and IoT devices are the main devices secured by Cog Systems.

“Security of connected devices is increasingly an important challenge to solve. The team at Cog is world-class with deep expertise in solving complex problems.”Cannon-Brookes, co-founder Atlassian

The startup plans to use the funding proceeds to open a new office in San Francisco. It already operates offices in Sydney and Chicago. “By steering the security architecture from monolithic to modular, we have brought proactive security to governments and the enterprise without compromising the user experience,” said Cog Systems CEO Daniel Potts.


Postscapes: Tracking the Internet of Things

Industrial knowledge platform Maana banks $28M Series C

Maana, an industrial knowledge platform turns human expertise and data into digital knowledge for employees to make informed decisions raised a $ 28M Series C round. The latest round was led by China International Capital Corporation (CICC) and Eight Square Capital and all existing investors.

Maana’s Industrial Pie

Maana’s total investment has reached $ 68M and has some of the most recognized industrial brands as backers which include Intel Capital, GE Ventures, Chevron Technology Ventures, Saudi Aramco Energy Ventures and Shell Technology Ventures. The company plans to use the funding proceeds for global expansion and service delivery.

“The latest investment will be used to scale our business globally and support our growing Fortune Global 500 customer base. This funding combined with the strategic alliance Maana has established with Accenture, demonstrates the demand for Maana’s cutting-edge AI-driven knowledge technology as a key enabler of digital transformation at the world’s largest industrial companies.” Babur Ozden, CEO and co-founder, Maana

At the core of Maana’s digital knowledge platform are knowledge graph and unified index strategy. Both of the features enable search and distributed high-speed computation for data mining and machine learning across multiple data silos and types.

MAANA Knowledge Platform

The platform can collect data from multiple sources such as log/event data, documents, Hadoop clusters, applications, data warehouse and time series data. It then applies data and statistical algorithms to classify and model the data into various categories. The insights can be transferred as inputs to the LoB (line-of-business) apps.


Postscapes: Tracking the Internet of Things