Israeli Startup Raises Close to $5M

Israeli cybersecurity startup Cylus has raised a $4.7 million seed round to develop its platform for providing cybersecurity services to railway and metro systems.

The funding came from Magma Venture Partners, Vertex Ventures, SBI Group and Zohar Zisapel.

Israeli cybersecurity startup Cylus has raised a $4.7 million seed round to develop its platform for providing cybersecurity services to railway and metro systems.

Cylus was founded just last year by veterans of the IDF Intelligence Corps’ elite technological intelligence and security units, and a former CEO of Israel Railways, Boaz Zafrir, now president of Cylus, as well as Zohar Zisapel, a high-profile Israeli entrepreneur and chairman of the RAD Group, who is also invested in Israeli car sensor company Innoviz Technologies, which develops technologies for autonomous driving and was an early investor in Argus Cyber Security, acquired by German auto giant Continental in November for over $400 million.

“Train attacks are no longer science fiction,”  Zisapel said in a statement. “Trains, passengers and critical railway infrastructure are undoubtedly high-quality targets for hackers. Cylus is laser-focused on protecting railway systems while enabling customers to swiftly adapt new technologies to reduce the risk to the public.”

According to Zafrir, “Railway companies cannot compromise on passenger safety, and one of the pillars of passenger safety is cybersecurity. Railway executives are acutely aware of the dangers and are looking for answers. The extraordinary team at Cylus has rich experience creating effective cybersecurity solutions, and I am confident that the company’s unique technology will help keep passengers safe all over the world.”

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