Cyber firm Shield-IoT secures $7.4m from led Series A

Mass-scale IoT and IIoT network cybersecurity firm Shield-IoT has raised $7.4m from a Series A financing raise.

The funding haul was co-led by NextLeap Ventures and Bloc Ventures will participation from Akamai Technologies, Janvest Capital Partners, Springtide Ventures, DIVEdigital and Atlas Ventures.

Founded in 2017, Israel-based Shield-IoT is an IoT cybersecurity and analytics software solution provider that enables service providers and IoT brands to monitor and secure mass-scale B2B IoT/IIoT networks, cut operational costs and generate new revenue streams.

The company offers a cloud-based solution in order to protect any IoT device or application across multiple industry domains such as telecommunications, smart grids, smart manufacturing, government and smart cities.

According to Shield, it intends to use the newly raised funding to expand operations and widen its business reach.

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