Cylus Raises $ 30 Million Series B To Help Protect Trains And Subways Around The World – TechCrunch
As rail systems undergo a digital revolution and become much more connected and advanced, rail operators face a rapidly growing threat landscape. To combat this, railways are demanding more robust cyber solutions, and lawmakers around the world are calling for more effective cybersecurity regulations.
Cylus, a Tel Aviv-based rail cybersecurity startup, has developed a cybersecurity solution, CylusOne, to protect major global and urban rail companies from a range of threats and risks. Cylus’ solution provides continuous 360-degree real-time monitoring and protection for all railway systems, regardless of size and geography, enabling real-time threat detection, advanced analysis and mitigation, operations simplified security and more. CylusOne installation takes just a few hours, requires no downtime, integrates seamlessly with new and existing systems with no network architecture changes required, providing full visibility in seconds.
The Israel-based company announced today that it has closed $ 30 million in a Series B round to help protect trains and subways. The latter capital brings its total funding to over $ 57 million. The company did not disclose its post-currency valuation.
Ibex Investors led Series B with Vertex Growth Fund, Strides International Business, Magma Venture Partners, Vertex Ventures Israel and GlenRock Israel. Israeli serial entrepreneur Zohar Zisapel, a member of Cylus’ board of directors, also joined the round.
With increasing government investments in critical infrastructure and increasing cybersecurity regulations in the United States, Cylus will use current funding to fuel its global growth in North America, Europe and Asia Pacific. The company also plans to continuously update its rail cybersecurity platform by adding more specialists in cybersecurity, traffic management and on-board / ground systems and strengthening its artificial intelligence and machine learning capabilities. CEO and co-founder of Cylus Amir Levintal told TechCrunch.
âRailways are such an essential part of our critical infrastructure, and truly of our day-to-day lives, that it is critical that this industry get the level of cyber protection it demands and needs,â said Levintal.
Cylus allows maximum interoperability (train-track coupling) while protecting the stationary and mobile systems of trains, continued Levintal. He also said that its integrated platform approach allows customers to engage with a single provider of rail cybersecurity solutions instead of multiple vendors. Other competitors only offer a partial solution for rail cybersecurity, such as those designed only for on-board systems without signaling protection (or vice versa), Levintal added.
Earlier this week, the company also announced its strategic partnership with the French company Alstom to deploy an advanced rail cybersecurity solution capable of protecting the signaling and control systems of Tel Aviv Red Line trains.
The global rail cybersecurity solutions market is expected to reach approximately $ 10.2 billion by 2027.
âWe have seen a massive wave of digitalization in the rail industry over the past few years. While this is a very positive trend, it has also resulted in an exponential expansion of the area that hackers can access to penetrate rail networks, which could have serious consequences in any of the modes. most essential transportation and critical infrastructure, âsaid Gal Gitter. , partner and managing director of Ibex Investors, who will now become a member of the board of directors of Cylus. âCylus is changing all of that by providing the most advanced and holistic cybersecurity platform for networks and rail operators. The Cylus platform is already in place in many of the world’s major rail operators, and we believe it will become the ubiquitous platform used in the industry.
âCylus provides an essential element of protection to critical infrastructure that will improve the safety and performance of railway systems,â said Tam Hock Chuan, Managing Director of Vertex Growth Fund. âVertex Growth is proud to help support Cylus technology, which we believe offers the most comprehensive solution for rail cybersecurity on the market today. ”