[vc_row][vc_column width=”1/1″][vc_column_text]PRESS RELEASE[/vc_column_text][vc_custom_heading]IoT Inspector Secures Millions in Funding from eCAPITAL[/vc_custom_heading][vc_column_text]Bad Homburg, Germany – 24. September 2020 – IoT Inspector GmbH, a sophisticated firmware analysis platform to automatically detect vulnerabilities in IoT firmware, has secured two million Euro from eCAPITAL’s Cybersecurity Fund and eCAPITAL IV Fund.
Network cameras, VoIP telephones, routers, switches, printers or even building control systems – more and more devices are connected and part of the IoT. The majority of these devices have one thing in common: they are rarely updated and therefore particularly susceptible to critical security gaps, such as hard-coded passwords, non-removed debugging tools or weaknesses in authentication. This encourages compromises such as data theft or network attacks.
The analysis platform IoT Inspector enables manufacturers, service providers and end users to automatically and efficiently examine the firmware of IoT devices for potential vulnerabilities, in order to make point of attacks visible and adjust security measures accordingly. At the same time, the level of compliance with international IoT security standards (e.g. ETSI TS 103 645 or ENISA Baseline Security Recommendations for IoT) can be checked thanks to the Compliance Checker function.
“IoT Inspector will use the investment to strengthen its market position and acquire further strong partners by accelerating its research, marketing and sales activities,” says Willi Mannheims, Managing Partner at eCAPITAL. “With Venture partner Hans-Christoph Quelle, eCAPITAL is also sending a recognized cybersecurity expert to the newly founded advisory board of IoT Inspector.”
“This capital raise by a renowned German venture capital investor, with a specialized cybersecurity fund, is proof of the market potential of our solution in the rapidly growing cybersecurity market”, says Rainer M. Richter, Managing Director of IoT Inspector GmbH. “The investment will help us to further develop our technology and to continue to successfully establish our analysis platform in the market. We are delighted to have eCAPITAL as a new investor on our side”.
“Behind the IoT Inspector there is an experienced, motivated team and a technology that delivers real added value and has the potential to sustainably reduce the cyberattack surface and thus make the Internet of Things more secure”, says Dr. Hans-Christoph Quelle, Venture Partner at eCAPITAL.
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany, currently manages funds with over EUR 220 million under management and was lead investor of some very successful German exits like sonnen or Novaled. For more information, visit https://ecapital.vc/.[/vc_column_text][/vc_column][/vc_row]