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IoT/OT Device Security Firm NanoLock Raises $11 Million

NanoLock Security, an Israel-based company that specializes in IoT and operational technology (OT) device protection and management, this week announced raising $11 million in a Series B funding round.

The funding, which brings the total raised by the firm to $21 million, came from OurCrowd, HIVE2040 (by Avnon Group), Atlantica Group, and AWZ Ventures. The money will be used by the company to expand and improve its solutions.

NanoLock Security has also announced expanding its executive team and the acquisition of two new patents.

NanoLock’s technology is embedded into devices during manufacturing or assembly, and it’s designed to provide protection against a wide range of threats, including insiders, external threat actors, and supply chain attacks.

The solution’s capabilities also include secure and managed firmware updates, status updates and alerts, and forensic data.

The technology can be used for various types of products, including industrial systems, smart meters, and smart lighting devices. NanoLock says it’s already working with utilities and industrial companies in the U.S., Europe and Asia.

Related: NanoLock Launches Platform to Protect IoT Devices From Production Through End-of-Life

Related: Industrial Cybersecurity Firm Claroty Raises $140 Million in Series D Funding

Related: IoT Security Firm Vdoo Expands Series B Funding to $57 Million

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.