Rail System Cybersecurity Firm Cylus Raises $12 Million
Rail and metro cybersecurity company Cylus today announced that it has raised $12 million in a Series A funding round, bringing the total amount raised by the company to date to $17 million.
Already working with rail integrators and key players in the rail ecosystem, Cylus is on a mission to help rail and metro companies avoid safety incidents and service disruptions caused by cyberattacks.
The company’s CylusOne solution has been designed specifically for the cybersecurity needs of the rail industry, the company says, and can detect cyber threats in the signaling and control networks, trackside and onboard.
The company says it wants to use the new funding to accelerate activities in the European Union, the United States, and the Asia-Pacific region, in an attempt to meet growing demand for its solutions.
Cylus also plans to use the funds to increase R&D efforts and expand its team of cybersecurity and rail experts.
The funding round was co-led by Magma Venture Partners and Vertex Ventures and saw participation from new investors Cyient, Cerca Partners, GlenRock, and FollowTheSeed, and previous investor Zohar Zisapel and SBI, along with former Chancellor of Austria Christian Kern, now a Partner and Managing Director of The Blue Minds Company.
“Rail systems have become technologically advanced, and the threat of cyber-attacks is constantly growing,” said Amir Levintal, CEO and Co-founder of Cylus. “We have already established strong relationships with key players in the rail industry and growing partnerships with leading rail operators. We are moving full steam ahead to scale our team and expand globally.”