Phoenix Contact Innovation Ventures, the corporate venture capital company of the Phoenix Contact Group, has invested in high-tech startup SIGA as part of a new round of financing.
The company, based in Israel, develops and sells OT and cybersecurity solutions for industrial applications and critical infrastructure applications. Since its incorporation in 2015, SIGA has steadily developed its core technology into the SigaPlatform. This combines proprietary software with data logging hardware to source and analyze process information even before it reaches the PLC. By directly monitoring raw electrical signals at Level 0 (rather than data packets), the technology gives a more accurate and broader picture of the physical processes. Using proprietary machine learning algorithms and analytics, the startup helps its customers to detect process anomalies in real time, whether due to technical malfunctions or a cyberattack.
“With increasing convergence between IT and OT, industrial and critical infrastructure operators are facing new cybersecurity threats. SIGA’s technology enhances the reliability, safety, and cybersecurity of industrial assets by analyzing the purest form of data and gaining insights other upper-level solutions cannot achieve,” recognizes Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures.