Shield-IoT and Datora Launch New IoT Security Service

PRESS RELEASE

Shield-IoT and Datora Telecom Partner to Secure Millions of IoT Devices in Brazil

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New IoT security service protects cellular connected devices from cyber criminals and nation-state threats, “With Shield-IoT we are able to protect our customers’ IoT networks, data, and critical services,” says Datora CEO Tomas Fuchs

Tel Aviv, Israel September 19th, 2022Shield-IoT, a leading IoT cyber security software solution provider, and Datora Telecom, one of Brazil’s top MVNO connectivity providers, announced the launch of a new IoT security service. The new SaaS service will enable Datora and its enterprise customers to seamlessly monitor and secure any cellular-connected device across any application at any scale.

With over 50 billion IoT and IIoT devices expected to be connected by 2024, countless industries such as utilities, smart grids, transportation, and various smart city applications rely on their connected devices to support key services and fuel business growth. In Brazil, 79% of companies expect their IoT implementations to grow in size over the coming 12 months. Of those, 44% have active plans to implement 5G for IoT connectivity.

The increased adoption has led to an escalating threat leveraging connected devices. In the first half of 2021, there were 1.5 billion IoT global breaches, which security experts expect to increase as more IoT devices are connected.

“Hackers can easily attack vulnerable infrastructure and infiltrate into an organization’s network via devices exposed in the field, such as smart meters, EV charging stations, Point-of-Sales, and CCTV cameras. Once inside, they are able to steal data, send false data, stage ransomware attacks, manipulate device operations, and even take down critical infrastructure,” said Udi Solomon, CEO and Co-Founder at Shield-IoT.

The new service analyzes device-to-cloud communication statistics to accurately detect the first signs of unknown cyber-attacks and operational events before any damage can take place. Users get real-time unparalleled visibility and can take preventive measures, leveraging the solution’s actionable alerts, including event type, severity, recommended action, and more.

“Working with Shield-IoT enables Datora to protect our customers’ IoT networks, data, and critical services,” says Tomas Fuchs, CEO at Datora. “The agent-less SaaS solution requires no network changes or any installation on the device, enabling our customers to quickly subscribe to the service with almost zero effort and with no impact on their existing operations”.

“As IoT networks continue to grow massively and as new threats emerge, customers require a solution that can easily adapt to meet these challenges,” added Solomon. “Our context-free AI solution is ‘future-proof’ by design, built to protect both today and tomorrow’s IoT networks against current and future threats.”

About Shield-IoT

Shield-IoT is an IoT cyber security software solution provider, enabling enterprises and solution providers to monitor and secure mass-scale B2B IoT/IIoT networks, reduce operational costs and generate new revenue streams. Based on over 15 years of academic research (MIT) and 80 academic papers, Shield-IoT patented technology delivers the world’s first coreset-AI anomaly detection solution to enable accurate analytics at mass scale. www.shieldiot.io

About Datora

Datora Group is formed by Datora Telecom and Arqia (MVNO). Datora Telecom started operations in Brazil in 1993 and 3 years later was the first to supply VoIP in Latin America. Currently, it is present throughout Brazil, and has operation offices around the world, with more than 2,000 clients, between operators and companies traveling more than 30 billion minutes annually and with more than 1 million IoT devices connected. In addition, it offers a complete portfolio of connectivity and IoT platform services/solutions. Arqia, the mobile technology unit of the Datora Group, was founded in 2011 to serve the IoT market, as well as being a facilitating platform for the entry of companies from any industry into the Virtual Mobile Operator market. The company, headquartered in Belo Horizonte (MG, Brazil), was the first Virtual Mobile Operator (MVNO) to operate in the country.

Round A Funding Press Release 2021

PRESS RELEASE

Shield-IoT Raises $7.4M in Series A to Streamline and Secure Mass Scale IoT Networks

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Shield-IoT streamlines the implementation of mass scale IoT and 5G networks with the world’s first Coreset-AI security platform. “Shield-IoT’s innovative approach to anomaly detection provides accurate analytics at mass-scale,” says Ramanath Mallikarjuna, Chief Strategist at Akamai Technologies.

Tel Aviv, Israel November 22nd, 2021Shield-IoT, a leader in mass-scale IoT and IIoT network cyber security and operational monitoring, announced today the closing of a $7.4 million Series A round of funding. The Series A round was led by NextLeap Ventures and Bloc Ventures, with participation of Atlas Ventures, Akamai Technologies, Springtide Ventures, DIVEdigital and Janvest Capital Partners.

Founded in 2017, Shield-IoT addresses the escalating proliferation of IoT cyber threats to devices, data, critical services and infrastructure. With Shield-IoT, service providers and IoT brands can monitor and secure their mass-scale B2B IoT and IIoT networks, reduce operational costs, and generate new revenue streams with value-added services.

“Shield-IoT’s innovative approach to anomaly detection enables Akamai to provide accurate analytics at mass-scale,” says Ramanath Mallikarjuna, Chief Strategist at Akamai Technologies. “Akamai is collaborating with Shield-IoT on innovative solutions to enhance cybersecurity and operational monitoring for customers of Akamai’s IoT solutions.”

Currently in use across multiple verticals including telcos, utilities, transportation, manufacturing, smart cities, and government, Shield-IoT offers a simple-to-deploy and easy- to-operate cloud-based software solution to protect any IoT device or application with no changes to end customer networks.

Based on over 15 years of academic research and 50 academic papers, Shield-IoT coreset-AI patented technology revolutionizes IoT mass-volume data analysis through a unique transformation of “big data” into small datasets. “Coresets compress the data from n to log(n), or from 1 million to 20 data points, enabling context-free highly accurate anomaly detection in minutes instead of hours or days” says Professor Dan Feldman, Chief Scientist at Shield-IoT.

“Shield-IoT removes the big data barriers and opens the door to a $50 billion IoT connectivity services market (2025)”, says Udi Solomon, CEO and Co-Founder of Shield-IoT. “Our innovative technology is helping global IoT players to move forward and accelerate IoT growth”.

About Shield-IoT

Shield-IoT is an IoT cyber security and analytics software solution provider. Shield-IoT enables service providers and IoT brands to monitor and secure mass-scale B2B IoT/IIoT networks, reduce operational costs and generate new revenue streams. Based on proprietary, patented Coreset-AI technology, Shield-IoT solutions protect any IoT device or application, and are in use across multiple domains including telcos, Industry 4.0, transportation, grids, cities and government. www.shieldiot.io

About NextLeap Ventures

NextLeap Ventures was founded in 2017 to invest in early-stage Israeli startups with deep technologies that will solve major global challenges.  It leverages the community of Intel, the largest private employer and incubator of the tech ecosystem in Israel, to source, vet, and support its portfolio.  NextLeap Ventures’ partners are split between Israel and the US. The expertise of the team spans investments, strategy, technology, innovation, marketing, product management, IP and finance, with a track record of driving and scaling major technology innovation. www.nextleapventures.com

About Bloc Ventures

Bloc Ventures is a UK based venture capital investor specialising in European deep technology. Bloc’s vision is to grow the next generation of European technology businesses at the forefront of telecommunications and computing. The Bloc team has a complementary mix of technology, commercial and finance expertise developed over the last 30 years in careers in technology, including corporate ventures and M&A at Vodafone and Arm. The team applies their operational experience to provide a hands-on collaborative approach to rapidly scale portfolio companies. www.blocventures.com

Coreset Technology: Unravelling The “Magic”

Coreset Technology: Unravelling The “Magic”

Much of ShieldIOT’s “secret sauce” and key differentiators are based on its unique Coreset technology. In this blog we’ll try to provide additional insights to what are coresets and why can they act as a game changer in protecting mass scale IoT networks.

Current Challenge

Today there are many good and available (off-the-shelf) artificial intelligence / machine learning anomaly detection algorithms. The challenge is that as IoT networks become larger and larger (reaching dozens of thousands, hundreds of thousands (smart cities) and now even millions of devices (smart grid, smart transportation)), using these anomaly detection algorithms on large datasets can take hours and even days, which is not an option in case of an IoT cyber attack that can take down key physical services, cause significant financial damage and even loss of life.

The Coreset “Magic”

ShieldIOT’s Coreset “magic” (based on 12+ years of MIT and Haifa academic research, 40+ academic papers) is that it enables accurate analytics at scale.  We did not invent a magical algorithm to “rule them all”. In fact, we do not directly solve the anomaly detection problem (considered by many as impossible) – instead we try to solve the data problem.

We use Coresets. Coresets are mathematical constructs that compress the data in real-time streaming mode, from 1 million to 20 data points (n to log(n)), with almost zero loss of energy. By running Coresets before applying the existing best of breed AI/ML anomaly detection algorithms, we enable reaching optimal results in minutes (vs. hours/days) as we are running on much smaller data. These optimal results include significant lower false alarms levels (false positives) as well as improved detection rates (true positives).

Existing solutions, that are not using Coresets, are forced to perform various heuristics on the data (else they can’t analyze it as it’s too big) resulting in very high levels of false alarms (in some cases over 95% false). 

The Uniqueness

The 3 main ShieldIOT Coreset unique differentiators include:

  • Unmatched accuracy: up to 20x lower false alarms vs. competitive solutions 
  • Unlimited scalability: supporting networks of millions of devices today 
  • Any device, application: the solution is agnostic across any IoT device/application (solution has been successfully used on meters, lighting, gateways, industrial sensors, car sensors, air quality sensors, HVAC….)

The Future of Coreset Anomaly Detection

ShieldIOT is the only solution today in the world that uses Coresets for anomaly detection in IoT. In fact  there are only a handful of Coresets experts in the world today, with most of them focusing on pure academic research (and not on commercial applications).

Coresets is a new and complex field in mathematics/computer science, making it extremely difficult to leverage existing academic papers as “recipes” for commercial solutions. Having said that, we expect that as IoT networks continue to grow, coresets as an enabler of accurate analytics at scale, will become a main stream IoT technology applied across multiple IoT application and networks to ensure their protection.

Seed Funding Press Release 2019

PRESS RELEASE

Shield-IoT Raises $3.6M Seed Round Led by Innogy Innovation Hub

Shield-IoT, an IoT security company, offers service providers network-wide cyber protection, increasing revenue streams and securing millions of connected devices

HERZLIYA, ISRAEL, 23 September, 2019 — ShieldIOT, a leading Internet of Things (IoT) cybersecurity software company, today announced that it has raised $3.6M in a Series Seed funding round. The round was led by innogy Innovation Hub, the accelerator and venture capital arm of innogy SE, a leading 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 Herzliya-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 of Strategic Cyber Security Venturing at the 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 enables 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 of ShieldIOT. “Ultimately all IoT devices connect to the network center either directly, for example over cellular networks, or indirectly via a dedicated gateway. ShieldIOT 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,” he added.

“With the exponential growth of IoT devices and use cases, they become a constant target for malicious actors and damaging cyber attacks. This makes comprehensive security controls more critical than ever” said Avner Goren, VP SOC Architecture IoT at Intel. “ShieldIOT delivers innovative solutions to secure IoT gateways and edge devices, and solves critical issues for large scale deployments such as Smart Cities, Smart Manufacturing and others”.

About ShieldIOT

ShieldIOT is an IoT cybersecurity software company, based out of Herzliya Israel. ShieldIOT’s end-to-end software security platform enables service providers and utilities to protect any IoT device, application or network and generate new revenue streams, in a single scalable platform without the need for any network changes, development resources, or unique security expertise.

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