Israeli cybersecurity startup Siga OT Solutions, which detects irregularities in vital infrastructure and industrial processes that suggest cyberattacks, has raised $8.1 million series B funding round led by PureTerra Ventures – a Dutch fund that specializes in water and infrastructure investments.
Also participate in the round Israeli venture fund SIBF, Moore Capital, and Phoenix Contact, a leading German manufacturer of electrical and control systems. The company has already raised $15 million, from SIBF and AWZ Ventures investments, and EC and IIA awards.
Siga claims that its technology is unique in that it “listens” to Level 0 signals using machine learning and predictive analysis rather than monitoring the operational network. Typically, these are composed of components and sensors that detect electrical impulses, rather than protocols or data packets hackers might tamper with that.
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By monitoring Level 0, which Siga defines as the “richest and most reliable level of process data within any operational environment,” the company can detect cyberattacks on national infrastructure’s most essential and susceptible physical assets. This, it argues, ensures operational resilience even in the event of successful hacking of industrial control systems (ICS).
Among Siga’s clients Israel’s water infrastructure operator, Israel’s vital water facilities, the New York Power Authority, Singapore’s water utility, Israel Electric Corporation, chemical companies government ministries, and others.
Amir Samoiloff, co-founder and CEO of Siga, noted: “Siga is offering a unique solution for monitoring the critical process data at Level 0, to enable ultimate detection of cyber-attacks on the most critical and vulnerable physical assets of national infrastructures. Level 0 is becoming the major axis in the resilience and integrity of critical national infrastructures worldwide and securing this level will become a major element in control systems in the coming years.”
The company will use the funds to expand its international sales and strategic alliances, with a particular emphasis on North America, Europe, Asia, and the United Arab Emirates.
