Category: Security

• Sovereign Tech Fund invests €686,400 in FreeBSD to enhance security features, including zero trust capabilities and software bill of materials tools.
• The funding will support FreeBSD development through 2024 and into 2025, focusing on critical security improvements.
• STF is backed by Germany’s Federal Ministry for Economic Affairs and Climate Action and has previously funded other open source projects like GNOME and GStreamer.

• Defense Tech Funding remains strong as Parry Labs raises $80 million in its first institutional investment round, led by Capitol Meridian Partners, with participation from True Ventures, 3Wire Partners, and Teamworthy Ventures.
• The Alexandria-based startup develops digital systems for the defense sector, including mission-critical software and advanced AI, enhancing capabilities in edge computing and electronic warfare.
• Parry Labs’ CEO John Parkes highlighted the company’s role in enabling defense clients to utilize digital engineering for rapid deployment of new capabilities.

• Defense Venture Capital is gaining traction, highlighted by Anduril Industries’ recent $1.5 billion funding round, co-led by Founders Fund and Sands Capital Ventures.
• In 2024, defense tech startups have raised $2.5 billion, nearing the record high of $2.6 billion set in 2022, with significant contributions from top firms like Andreessen Horowitz and General Catalyst.
• Andreessen Horowitz has been particularly active, leading a $175 million Series B for Saronic and co-leading another round for ZeroMark, emphasizing the firm’s commitment to defense tech.

• DroneShield funding raise sees the defence tech company secure $120 million from investors, significantly boosting its financial position.
• The company’s shares have experienced volatility, rising from $0.31 in December 2023 to a peak of $2.72 before halving in value due to short-selling.
• The funds raised will primarily support R&D for new counterdrone products ($90 million) and strategic acquisitions ($20 million), with $10 million allocated for costs and working capital.

• Pindrop Security raises $100 million to advance voice authentication technology for combating deepfakes with AI
• Pindrop’s voice authentication tech secures contact centers by analyzing and verifying customers’ voices
• The technology extends to mobile app logins, car access, and combating deepfakes through Pindrop Pulse
• Pindrop’s deepfake detection tool achieves high accuracy in identifying synthetic voices
• Pindrop offers a Pulse Deepfake Warranty to compensate customers for financial losses from undetected deepfakes

Voice Authentication Technology: Pindrop Security’s Innovative Approach

In the fast-evolving landscape of cybersecurity, the need for advanced authentication technologies has never been more critical. Read more

• Lawmakers advocate for increased border technology funding to combat illicit activity at the U.S.-Mexico border
• House Homeland Security Committee emphasizes the critical role of emerging technologies in deterring criminal activity
• CBP personnel utilized NII technology to scan 7.6 million vehicles, leading to significant narcotics seizures
• Rep. Luis Correa highlights the use of artificial intelligence-assisted devices for quicker inspections and drug detection
• Witnesses stress the need for more trained and experienced CBP agents alongside advanced technology for effective border security

Lawmakers Advocate for Increased Border Technology Funding

Lawmakers on the House Homeland Security Committee have been fervently advocating for greater funding to bolster the use of cutting-edge technology in combating illicit activities along the U.S.-Mexico Read more

• DIANA accelerator tech seeks solutions for 5 defense and security challenges
• Start-ups from NATO countries can apply for funding and mentorship
• Focus areas include energy, data security, sensing, human health, and critical infrastructure
• Successful companies can receive up to €300,000 in funding
• Program aims to boost innovation, economic growth, and security in society

DIANA Accelerator Tech: NATO’s Focus Areas for New Round of Funding

In the realm of defense and security innovation, NATO’s Defense Innovation Accelerator (DIANA) has taken a significant step forward by announcing a new set of five defense and security challenges for the second year of its accelerator program. Read more

• Hundreds of tech companies are seeking to profit from homeland security initiatives, particularly along the U.S.-Mexico border.
• The Electronic Frontier Foundation (EFF) has released a comprehensive dataset of vendors supplying technology for AI-powered homeland security efforts.
• The dataset profiles over 230 companies offering various technology products and services to U.S. Department of Homeland Security components.
• The industry is rapidly growing, with a focus on artificial intelligence, machine learning, and autonomous technology.

• J2 Ventures secures $150 million funding for innovations in civilian and military tech
• Managed by US military veterans, J2 Ventures invests in companies with civilian and military goods
• J2 Ventures’ portfolio is national-security-adjacent but not defense-focused, avoiding defense-related technologies
• The company invests in firms improving the health and well-being of US military personnel, co-investing in over 25 startups
• J2 Ventures, led by former Army Reserve intelligence officer Alexander Harstrick, advocates for private sector-driven defense innovation, emphasizing the importance of commercial technology adapted for military use

J2 Ventures Secures $150M Funding for Innovations in Civilian and Military Tech

In the realm of venture capital funding, the landscape is often challenging and competitive. Read more

• Solidroad secures $1.2 million in funding round led by key investors in the industry
• Founders Mark Hughes and Patrick Finlay aim to revolutionize enterprise training using AI technology
• Solidroad’s platform offers personalized, scalable training for customer-facing teams
• Industry leaders like ActiveCampaign, Ryanair, and Three Mobile already benefiting from Solidroad’s technology
• Funding will be used to expand team, enhance product development, and advance AI capabilities

Solidroad Secures $1.2 Million in Funding

Solidroad, an innovative AI-powered platform dedicated to revolutionising hiring, onboarding, and training for enterprises, has recently secured $1.2 million in funding. Read more

• A $100 million defense tech fund, the Anzu-Green Critical Technologies Fund, has been established by J.A. Green & Co. and Anzu Partners to support companies in cybersecurity, artificial intelligence, and aerospace.
• The fund will invest in companies at the Series B stage, providing $3 million-to-$6 million investments, and aims to combine Anzu’s technology and company-building skills with J.A. Green & Co.’s

• Mills & Reeve advises cyber tech firm Cavero Quantum on growth funding led by Foresight Group and Northern Gritstone
• Cavero Quantum develops password-less encryption technology for secure key generation and authentication
• Technology compatible with legacy hardware, low bandwidth, and potential to secure against cyber attacks by quantum computers
• Funding to be used for commercializing technology and launching first product, with key roles filled by founders and new appointees
• Demand for Cavero’s solution expected to rise as existing cryptographic methods become vulnerable to quantum computers

Cavero Quantum Secures Growth Funding for Password-Less Encryption Technology

In a significant move for the cyber tech industry, Leeds-based Cavero Quantum has secured growth funding to advance its groundbreaking password-less encryption technology. Read more

• Longbridge Group Singapore secures additional USD $100 million in funding, achieves profitability, and accelerates global expansion of its ‘Securities + Technology’ business model
• Longbridge Group has accumulated over USD $150 million in total financing, leveraging leading practices in “Finance + Internet Technology”
• The company plans to focus on Singapore and Hong Kong markets, extending its reach to Asia-Pacific, Europe, the Americas, and the Middle East
• Longbridge Group has obtained over 21 financial compliance licenses and qualifications across various countries
• Longbridge Group’s dual business model of “Securities + Technology” has led to overall profitability, with the technology business capturing 16% market share in Hong Kong

Longbridge Group Singapore Secures Additional USD $100 Million in Funding, Achieves Profitability and Accelerates Global Expansion of Its ‘Securities + Technology’ Business Model

Longbridge Group Singapore, a prominent player in the finance and technology sector, has recently made headlines by securing an impressive USD $100 million in additional funding. Read more

• Equity funding round through Crowdcube boosts Nottinghamshire public safety tech company to £10 million valuation
• Halo Solutions, provider of public safety and security software, oversubscribed in maiden crowdfunding call, raising £489,610
• The Halo System streamlines crowd safety, incident management, and security operations, used at major global events and venues
• Forecasted growth includes 340% revenue increase in FY23 and expansion into America, Europe, and the Middle East
• Midven strengthens investment in Halo Solutions to support global growth and product range expansion

Equity Funding Nottinghamshire: Halo Solutions Secures £10 Million Valuation

In the realm of public safety and security technology, Nottinghamshire-based company Halo Solutions has made significant waves with its recent equity funding round. Read more

• Leeds University spinout Cavero Quantum secures £2.2 million funding to revolutionize cybersecurity market
• Technology offers quantum passwordless secure cryptography for key generation and authentication
• Founders Professor Ben Varcoe and Dr. Frey Wilson to launch first product with support from CEO James Trenholme and chair Andrew Wallace
• Investment from Foresight and Northern Gritstone to commercialize innovative technology
• Cavero Quantum’s encryption tech aims to replace multi-factor authentication with high-security, passwordless authentication

Leeds Spinout Funding: Cavero Quantum Secures £2.2 Million to Revolutionize Cyber Market

Introduction

Leeds spinout Cavero Quantum has recently made waves in the cybersecurity industry by securing £2.2 million in funding to revolutionize the market. Read more

• OnSecurity, a cybersecurity start-up, raises £5.5m in first funding round led by Gresham House Ventures
• Plans to double headcount from 35 to 70 as client base grows
• Funding to accelerate growth, increase research and development
• OnSecurity has nearly 300 customers and completed over 5,000 pentests
• Gresham House Ventures sees OnSecurity as well-positioned to expand client base in cybersecurity market

OnSecurity Raises £5.5m in First Funding Round

In a significant development for the Irish-founded cybersecurity start-up OnSecurity, the company has successfully secured £5.5m in its first funding round. Read more

• Border Patrol seeks new technology, recruits in DHS funding bill
• DHS funding bill includes over $4 billion for custody operations and removal of undocumented immigrants
• $300 million allocated for advanced border security technology such as autonomous security towers and counter drones
• $600 million designated for building more sections of the border wall and recruiting Border Patrol agents
• Rep. Cuellar highlights attrition issues at Border Patrol due to job difficulty, with 3,000 unfilled positions

Border Patrol Tech: Enhancing Security Measures

In a recent development, the Department of Homeland Security (DHS) is set to receive significant funding in the upcoming fiscal year to bolster border security measures. Read more

• Lawmakers are looking to restore TSA funding to accelerate the deployment of screening technology
• Legislation proposed to end diversion of funds from the 9/11 security fee and create an aviation security checkpoint technology fund
• TSA aims to deploy new Credential Authentication Technology (CAT) machines for enhanced security
• Proposed bills seek to improve airport experiences for travelers by encouraging the use of noninvasive screening technologies
• Additional proposals focus on enhancing the screening process for veterans, disabled individuals, and minority travelers

Lawmakers Push for TSA Funding Restoration to Enhance Airport Security

In a bid to accelerate the deployment of advanced security screening technology and improve the overall airport experience for travelers, several House lawmakers have introduced legislation to restore funding to the Transportation Security Administration (TSA). Read more

• Odyssey secures $10 million in Series A funding led by Bradley Tusk of Tusk Venture Partners and supported by key investors like Katherine Boyle and Ben Ling.
• Founder and CEO Joseph Connor highlights Odyssey’s technology platform enabling school choice programs for families seeking quality education.
• The investment includes a board seat for Bradley Tusk, emphasizing the potential impact of fair education access for all children.

• ZeroMark secures $7M in seed funding for “Handheld Iron Dome” technology
• AI-powered auto-aim tech transforms infantry rifles into counter-drone solutions
• System integrates computer vision and precision robotics with firearms
• Ground Up Ventures and Andreessen Horowitz lead funding round
• Technology enhances precision, safety, and operational capabilities for armed forces

ZeroMark Secures $7M in Seed Funding for “Handheld Iron Dome”

Innovative Defense Technology Startup ZeroMark has recently announced a significant milestone in its journey with the successful securing of $7 million in seed funding for its groundbreaking project titled “Handheld Iron Dome.”

• Axmed secures $2 million in seed funding to expand its B2B marketplace
• Funding round led by Founderful Ventures, with additional $5 million grant from Bill and Melinda Gates Foundation
• Expansion plans into African and Caribbean markets with focus on enhancing technical and commercial teams
• CEO Emmanuel Akpakwu emphasizes vision for improving medicine accessibility and empowering buyers
• Investment aims to accelerate distribution of essential medications in underserved regions, transform pharmaceutical market

Axmed Secures $2 Million in Seed Funding for B2B Marketplace Expansion

In a groundbreaking development for global health equity, Axmed, a forward-thinking two-sided B2B marketplace platform, has successfully secured $2 million in seed funding. Read more

• UK defence tech funding falls at a faster rate than wider investment landscape, with a 75% drop in completed deals and a 22% decrease in investment in 2023 compared to the previous year.
• UK defence tech companies raised £76.3m across 43 deals in 2023, bringing funding levels back to pre-pandemic levels after a sharp decline.
• The drop in defence tech funding is attributed to a large outlier round in 2022, contrasting with the growing investor interest in defence tech post-Ukraine war.

• North Koreans secured remote work contracts with US companies, earning $6.8 million to fund weapons
• US national facilitated North Korean workers in obtaining illicit telework employment
• Over 300 US companies were defrauded in the scheme
• North Korean government infiltrated US job markets to raise revenue for illicit nuclear program
• US charges individuals involved in creating false identities for freelance IT work to fund North Korea’s weapons program

North Koreans Employment: A Closer Look at the Illicit Scheme

In a shocking revelation, it has come to light that North Korean technology workers managed to secure remote work contracts with hundreds of American companies over a period of three years, starting in October 2020. Read more

• North Koreans posed as American tech workers to fund weapons, defrauding over 300 US companies
• A US national aided North Korean IT workers in securing illicit telework employment, earning $6.8 million
• North Korean workers attempted to infiltrate US government agencies for information
• The scheme involved creating false identities and running a “laptop farm” to appear as if based in the US
• North Korea relies on deploying IT workers overseas, along with cyberattacks, to fund weapons programs

North Koreans Posing as American Tech Workers

In a shocking revelation, it has come to light that North Korean technology workers have been posing as American tech workers to secure remote work contracts with hundreds of US companies. Read more

• DARPA has awarded a $1 million grant to fund the development of a military-grade prototype quantum laser that utilizes quantum entanglement to address diffusion and data loss issues in laser technologies.
• The team from Washington University in St. Louis aims to create a “quantum photonic-dimer laser” that entangles pairs of light particles to produce a coherent beam of laser with two different light wavelengths that can withstand adverse environmental conditions.

• Effort to ‘Rip and Replace’ Huawei, ZTE tech in the US backfires due to a $3 billion funding shortfall
• FCC’s program to remove Huawei and ZTE equipment from networks struggling with lack of funds
• FCC Chair Jessica Rosenworcel warns of potential network shutdowns without additional government funding
• FCC’s Rip and Replace program prioritizes smaller carriers and ISPs in rural areas due to funding constraints
• US lawmakers, including Senator Maria Cantwell, working to secure additional $3 billion in funding for the program

Challenges in Rip and Replace Program Funding for Replacing Huawei and ZTE Tech

The effort to “Rip and Replace” Huawei and ZTE technology in the US, driven by spying fears, is facing significant hurdles primarily due to a funding shortfall. Read more

• Huawei, blacklisted by the US government, has been secretly funding research at top US universities through the Optica Foundation since 2022.
• The Optica Foundation, a nonprofit organization focusing on communications and lasers, oversees a research competition solely funded by Huawei, drawing participation from professors at universities like Harvard.
• Despite concerns that Huawei could be used as a spying tool by the Chinese Communist Party, the foundation does not disclose Huawei as the funding source, maintaining confidentiality.

• Recent awards from the U.S. Department of Defense are funding the construction of a hypersonic testing facility, flight experiments, and advancements in hypersonic technology at UCF.
• UCF is establishing itself as a global leader in hypersonics and space propulsion research with the new funding.
• Hypersonic propulsion enables air travel at speeds of Mach 6 to 17, with applications in commercial and space travel.

• AeroDefense awarded Tactical Funding Increase (TACFI) contract of $1,794,999.96 by AFWERX for AirWarden’s Collaborative Drone Detection Network (CoDDN)
• CoDDN enables cooperation between DOD, state, and local entities for unified response to unauthorized drone activities
• AeroDefense completed AFWERX Direct to Phase II contract to modify drone detection sensors for military deployment
• CoDDN development allows connectivity between different agencies and units for sharing detection and sensor data
• Joint Base McGuire-Dix-Lakehurst to deploy fixed sensor systems to enhance airspace awareness and joint response to drone threats

AeroDefense Announces AFWERX Contract for Drone Detection Network

In a groundbreaking development, AeroDefense has revealed that AFWERX has granted a Tactical Funding Increase (TACFI) contract worth $1,794,999.96 to bolster AirWarden’s Collaborative Drone Detection Network (CoDDN). Read more

• Evolution Equity Partners raises $1.1 billion for a new cybersecurity and AI fund, oversubscribed with participation from various investors.
• Despite a recent drop in cybersecurity sector investment, there are signs of recovery, with increased deals in Q1 2024 compared to the previous year.
• The fund, Evolution Technology Fund III, will invest in cybersecurity firms and startups using AI and machine learning.