Investment comes after deal signed with Automotive Tier 1 Harman and hiring new Chief Business Officer Nir Sasson
HAIFA, Israel, May 18, 2020 /PRNewswire/ -- Regulus Cyber, creator of the first "anti-virus" software to protect satellite navigation and timing across a wide range of applications, including automotive, mobile, IoT and critical infrastructure, today announced that the company raised $4M. Part of a future Series B-Round, the funds will be used to enhance their R&D and sales efforts around supporting the recent U.S. executive order that emphasized the protection of positioning, navigation, and time provided by GPS.
The funding was led by SPDG Ventures (the holding company of the Périer-D'Ieteren family, owners of Belgium's largest automotive business) and joined by btov Partners (investor in Facebook, OrCam, and Volocopter) with all previous investors participating including Sierra Ventures, Canaan Partners Israel, F2 Capital, the Technion TIOF fund and Technion R&D foundation.
"There are 8 billion GNSS receivers in use worldwide, powering 7% of global economic activity," said Rainer Schmueckle, one of Regulus' new investors and previous COO of Daimler Group/Mercedes. "Having researched this domain, we realized Regulus is uniquely positioned to address the rising need to protect this trillion-dollar technology, from hacking."
Several weeks ago Regulus Cyber also announced signing an agreement with HARMAN, one of the world's leading Automotive suppliers. The solution will be part of HARMAN SHIELD, the company's robust offering for risk management to vehicle manufacturers and mobility companies.
The Regulus Pyramid GNSS is a software solution that uses machine learning to detect spoofing and defend any GNSS receiver, device, or chipset against it — ensuring the security and reliability that are essential to safe and accurate navigation. GPS spoofing attacks are becoming more common and are often very difficult to detect and protect against. Pyramid GNSS uses a combination of patented algorithms, developed over years of spoofing experiments to protect against attacks at the firmware, operating system, or application level. Furthermore, Regulus Cyber had recent breakthroughs in their capability to completely mitigate spoofing as well.
"The importance of protecting GPS has come to the forefront as President Trump and other governments around the globe define new regulations to protect it," said Yonatan Zur, CEO of Regulus Cyber. "GPS controls so many facets of our lives from transportation, infrastructure and law enforcement. Having a safe and secure software that protects GPS devices is no longer an option; it's an integral component to the safety and security of so many industries."
As a result of the growing demand, Regulus Cyber appointed Nir Sasson as Chief Business Officer to lead global business development activities and solidify their partnerships with timing and location manufacturers and users. Prior to Regulus, Mr. Sasson was the Co-Founder and CEO of Autotalks, leading the company from inception to become a worldwide leader in vehicle-to-everything (V2X) communication technology, securing deals with automotive OEMs and Tier 1s, creating a strong presence in global markets, and securing funding from financial and strategic investors.
"Our growth in fund raising, recruiting top talent, and partnering with industry leaders is another step in becoming a major player in the GPS protection space," said Mr. Zur.
About Regulus Cyber
Founded in 2016, Regulus is based in Haifa, Israel, and is backed by SPDG Ventures, btov Partners, Sierra Ventures, Canaan Partners Israel, the Technion, and F2 Capital. For years, GNSS security has been hard-coded into hardware - at the chip or receiver level. With the rise of software-defined radios and open-source GNSS attack software, these outdated mechanisms have become ineffective and obsolete, failing to protect against the fast pace of new dangerous spoofing attacks.
Regulus Cyber is disrupting the GNSS market with the first-ever software-only, connected and system-agnostic solution to detect, protect and mitigate smart spoofing. Pyramid GNSS revolutionizes how satellite position, velocity, and time-critical for numerous systems, including automotive, infrastructure, communication, telecom, mobility, and financials - are protected.
Pyramid GNSS is flexible, lightweight and easy to install. It allows to dramatically lower the cost and complexity of anti-spoofing defense, making it attractive to the vast various markets dependent on GNSS. For more information, visit www.regulus.com.
SPDG (www.spdg.be) is the holding company of the Périer-D'Ieteren family, one of the two major shareholders of the D'Ieteren Group. Active in the automotive industry for more than two centuries, D'Ieteren currently pursues three distinct activities articulated around strong brands.
The mission of SPDG is twofold. On the one hand, SPDG takes on the professional management of its strategic shareholding in D'Ieteren. On the other hand, via SPDG Ventures, it aims to partner with entrepreneurs in ventures that have a lasting impact on society. Companies included in the investment scope relate to mobility, smart city solutions, and e-health in these specific contexts.
About btov Partners
btov Partners, founded in 2000, is a European venture capital firm focusing on digital and industrial technologies. btov's network of entrepreneurial private investors provides it with unique expertise and access to non-obvious investment themes and founders. With offices in Berlin, Munich, St. Gallen and Luxembourg, the company manages assets of EUR 450 million. Its network of private investors consists of 250 experienced entrepreneurs and executives from all over Europe. The most well-known investments include Blacklane, Data Artisans, DeepL, Facebook, Foodspring, OrCam, Raisin, SumUp, Volocopter and XING. More information at www.btov.vc
Contact for inquiries: Roi Mit, Regulus Chief Marketing Officer, email@example.com
SOURCE Regulus Cyber