EDP invests in Aperio Systems, an Israeli Cybersecurity company
The joint investment from EDP Ventures, Data Point Capital and Scopus Ventures reflects growing demand worldwide to secure industrial control systems against the most sophisticated attacks.
EDP, through EDP Ventures, has invested in Aperio Systems, an Israeli cybersecurity company that supplies the last line of defence to protect critical infrastructure and to guarantee the integrity of operational data.
Data Point Capital, a venture capital fund focusing on high impact companies, and Scopus Ventures, a venture capital fund investing in category-defining companies, have teamed up with EDP in this joint investment of 4.5 million dollars.
The funding will help support the growth and development that Aperio Systems has witnessed worldwide.
Following highly successful pilot projects across sites in Europe, the Middle East and Africa (EMEA), Aperio Systems has moved on to the installation phase at some of the world’s largest utility companies.
EDP Ventures’ investment follows a successful test with Aperio Systems to protect thermal generation assets, after an initial meeting with them at the 2016 Web Summit. After that, EDP came across Aperio once again at the Free Electrons – Global Startup Acceleration Program where it was elected as the Most Innovative Energy Startup. and took first place in the “Pitch Off Competition”
“Aperio Systems impressed us as a truly innovative company during a successful pilot in which the system was rigorously tested and showed its ability to prevent sophisticated attacks (APTs- Advanced Persistent Threats). The utility sector is embracing the digital world at an incredible speed — with devices including smart meters, internet-connected home devices, and smartphones — making us ever more dependent on sensors to protect our most critical systems from malicious attacks and potential damage. By protecting critical assets – whether they are isolated systems or IoT connected to physical systems – Aperio Systems offers resilience and security.” said Luís Manuel, Executive Board Member at EDP Inovação/ EDP Ventures.
Aperio Systems pioneered the first technology to detect artificial manipulations of industrial data-treatment. From the rate of gas flow at a petroleum refinery, to the temperature and spin rates of turbines in a power plant, or the chlorine level of water supply networks, Aperio Systems’ proprietary Data Forgery Protection™ (DFP) technology delivers the last line of defence in protecting critical assets against insider and external threats.
Cyberattacks, particularly the ones that have received a lot of public attention, have demonstrated that attackers are able to penetrate critical systems. Once attackers breach a system, the only way to cause severe and long-lasting damage is to blind operators by falsifying data. Aperio Systems detects when systems are lying by displaying altered data, enabling the plant’s operators to prevent damage before it is too late.
EDP Ventures, Data Point Capital and Scopus Ventures join a consortium of private investors, including prominent cybersecurity veterans Doron Bergerbest-Eilon, Liran Tancman, and Shlomi Boutnaru – leading figures in Israel’s cybersecurity ecosystem.
“We are thrilled by EDP’s vote of confidence and are excited by the possibilities offered through the investments from EDP Ventures, Data Point Capital and Scopus Ventures, which allow us to expand Aperio Systems’ presence globally to protect critical infrastructure and ensure data quality,” said Michael Shalyt, CEO Aperio Systems. "This past year has demonstrated without a doubt that physical assets are the true targets of attacks against critical infrastructure. You don't target nuclear plant engineers to steal credit cards. Securing critical infrastructure has tangible financial, social, and even life-or-death implications. We are excited to see that heavy industries are becoming more aware of the threats and taking them seriously."