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.