PHOENIX CONTACT Innovation Ventures closes investment in Level 0 OT Cyber Security provider SIGA
In a syndicate with leading international investors, Phoenix Contact Innovation Ventures backs the Series B financing round of the Israel based tech startup. The new funds will be invested in scaling up the company and expand technology and product portfolio.
Blomberg, Germany, September 9, 2021
PHOENIX CONTACT Innovation Ventures has completed an investment in SIGA (www.sigasec.com), an Israel-based high-tech startup which develops and provides Operational Technology (OT) monitoring and anomaly detection for Industrial Control Systems (ICS) and SCADA (Supervisory Control and Data Acquisition) in industrial and critical infrastructure applications.
“With increasing convergence between IT and OT, industrial and critical infrastructure operators are facing new cyber security threats. Especially for critical infrastructure like Water Treatment or Utilities, the consequences and potential damages of process failures are unpredictable. SIGA’s technology enhances the reliability, safety and cybersecurity of industrial assets by analyzing the purest form of data and gaining insights other upper levels solutions cannot achieve”, recognizes Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures.
Since the incorporation in 2015, SIGA has steadily developed his core technology into the SigaPlatform. This combines proprietary software with data logging hardware to source and analyze process information even before it reaches the PLC. By directly monitoring raw electrical signals at Level 0 (rather than data packets), SIGA’s technology give a more accurate and extended picture of the physical processes. Using proprietary machine learning algorithms and analytics, SIGA helps its customers to detect process anomalies in real-time, whether due to technical malfunctions or a cyber-attack.
Amir Samoiloff, co-founder and CEO of SIGA, says: “Monitoring Level 0 is becoming essential for securing resilience and integrity of processes, especially in critical infrastructures worldwide. SIGA’s technology perfectly fits this task and provide unprecedent value to the industry. We are very excited to have Phoenix Contact Innovation Ventures on board as we expect to benefit much from the market and industrial know-how of such a leading industrial automation player like Phoenix Contact.”
This significant Series B investment was executed by a syndicate led by PureTerra Ventures and joined by Phoenix Contact Innovation Ventures, the Israeli venture fund SIBF, Moore Capital and existing investors.
FOR MORE INFORMATION PLEASE CONTACT:
PHOENIX CONTACT INNOVATION VENTURES
ABOUT PHOENIX CONTACT INNOVATION VENTURES GMBH:
PHOENIX CONTACT Innovation Ventures is the global corporate venture capital company of the PHOENIX CONTACT Group, a global manufacturer and supplier of components and systems for electrical connection and industrial automation technology. The venture capital company invests in startups with business models that are related to electrical connection technology, industrial digitization, automation and control technology, and associated markets.
For more information, please visit: www.phoenixcontact-innovationventures.com
SiGa Data Security (2014) Ltd. (SIGA) is a Israel based tech startup founded in 2014 by Amir Samoiloff and Ilan Gendelman. SIGA’s incipient failure detection solution, SiGaPlatform, monitors electrical signals direct from the source (Level 0) to detect process anomalies caused by misuse, malfunction or even cybersecurity breaches. Without disrupting existing Industrial Control Systems, SIGA’s technology enable industrial, commercial, and critical infrastructure operators to dramatically improve the reliability, safety and cyber security of their assets.
For more information, please visit: www.sigasec.com