Cylus Networks has raised $ 12 million
The round was led by the Vertex and Magma funds, with the participation of Indian technology company Saynet, private equity fund Leon Recanati, GlenRock Fund, Serke Fund and Follow The Seed Fund, as well as existing investors in Japan’s SBI Group, former Austrian Chancellor Christian Kern and Zohar Zisapel
Israeli start-up Cylus, which develops cyber-defense solutions for railways, announced today the completion of a $ 12 million round of financing. The round was led by the Vertex and Magma funds, which led the company’s previous financing round. It was also attended by Indian technology company Cyient, private equity fund of Leon Recanati, GlenRock Fund, Serke Fund and Follow The Seed Fund, as well as existing investors in the SBI Group of Japan, former Austrian Chancellor Christian Kern and Zohar Zisapel. Together with the current round, the company raised $ 17 million in total.
The company was founded in 2017 by Amir Levintal, who serves as CEO, and Mickey Shifman, vice president of research and development, both of whom are former employees of Unit 81. Boaz Tzafrir, former CEO of Israel Railways and consultant Zohar Zisapel, , Who is also an early investor in the company, says that the combination of cyber people and senior executives in the railroad industry is enabling them to develop technology that is especially suited to the railroad system.
The company is currently recruiting 19 employees in Israel, and is expected to grow to 30 by 2020, most of them in Israel and individuals in the US, Europe and Asia-Pacific.
“The conventional approach to cyber protection of organizations is not suited to the architecture of the railway network,” former CEO Amir Levintal told “Globes”. “The existing cyber products do not speak the language of the trains: the standard technologies are adapted to the IT world, Are dealing with communications in the signaling world – the mobile world of the moving train. Wireless communication that enables remote control of the train may be exploited by an attacker who attempts to control the train and harm the safety of passengers. “Sayelos says that the platform they developed identifies cyber threats in the signaling and control networks of the trains, both on the train and in the control equipment. Enables the blocking of threats without disrupting the proper functioning of the trains and without blocking communication between them and the control centers.
“I know from personal knowledge that cyber security is a top priority for the rail industry,” said Christian Kern, who was formerly CEO of the Austrian railway company, “The company is focused on the rail market and provides a dedicated product developed by experts in cyber security And on trains. “