IoT cybersecurity firm Qomodo raises $1.6m to tackle cyber threats


Qomodo, an IoT cybersecurity firm, has raised $1.6 million in a pre-seed funding round, led by Expeditions Fund, with contributions from Amadeus Capital Partners, Auriga Cyber Ventures, Nio Advisors, McNally Capital, Ventures Together, and Techstars.

Founded by a team of former BAE Systems and NATO cybersecurity experts, Qomodo specializes in Extended Internet of Things (XIoT) cybersecurity, focusing on detecting and preventing threats within embedded systems at the host level. XIoT encompasses devices connecting physical systems to the internet, beyond traditional servers and laptops.

The funding will be utilized to enhance Qomodo’s platform-agnostic software agents and support outreach efforts in Europe and the US, enabling direct engagement with customers to refine product-market fit.

Qomodo’s advanced IoT observability and threat prevention software agents leverage cutting-edge machine learning technologies to proactively detect and block intrusions, safeguarding critical infrastructure without compromising system performance. Capable of profiling device behavior and vulnerabilities, the software surpasses common network-based detection products.

CEO Toby Wilmington highlighted the escalating risks posed by the rapid adoption of IoT devices and emphasized the importance of Qomodo’s intelligence-led approach and robust software agents in ensuring the security and resilience of IoT ecosystems amidst international cyber warfare threats.

Miko Firlej, founding partner of Expeditions Fund, expressed enthusiasm for partnering with Qomodo, citing the team’s expertise and the differentiated product offering tailored for IoT device manufacturers. Firlej underscored the significance of Qomodo’s embedded software agent and honeypot network in expanding intelligence data related to IoT hacking attempts.

Source: fintech.globa