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qomodo raises $1.6 million to strengthen IoT cybersecurity

Cyber Security

qomodo 1.6 million strengthen IoT cybersecurity

Pre-seed funding of $1.6 million has been successfully raised by IoT cybersecurity startup qomodo.

Amadeus Capital Partners, Auriga Cyber Ventures, Nio Advisors, McNally Capital, Ventures Together, and returning investor Techstars all participated in this funding round, led by Expeditions Fund. The money is intended to support qomodo's objective to strengthen Internet of Things security against growing cyberthreats.

Qomodo, a company founded by cybersecurity experts from NATO and BAE Systems, is leading the way in creating security solutions for the Extended Internet of Things (XIoT). The focus of this solution is on host-level threat detection and prevention in embedded systems. Beyond traditional servers and laptops, the Internet of Things (XIoT) comprises devices that connect physical things to the internet.

The variety, intricacy, scalability, and integration of these devices with legacy systems make securing XIoT setups a difficult task. The XIoT environment is complex and interconnected, requiring a comprehensive security approach to protect it from particular threats.

Furthermore, the escalating geopolitical tensions across the globe have significantly complicated the cybersecurity landscape for XIoT. Increased cyber-threat activities are targeting critical infrastructure sectors due to geopolitical conflicts, like those involving Ukraine and Russia, Israel and Gaza, and tensions in the South China Sea. Russia, China, and North Korea have increased their cyberattacks on global systems, often targeting XIoT weaknesses. This has led to major incidents such as the NotPetya attack, causing over $1.2 billion in damages worldwide.

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