VentureIsrael News

Cydome secures $8 million Series A to prevent maritime cyber threats

Portfolio Companies
Cydome, the frontrunner in maritime cybersecurity solutions, has announced an $8M Series A round led by US-based 2.0 Ventures with participation from MD One Ventures, Camden Capital, Pointman UK, New Gate Capital, and existing investor VentureIsrael.

With cyber attacks in the shipping industry increasing by approximately 300% yearly since 2019, the funding will enable Cydome to continue to deliver the industry’s most innovative cybersecurity solutions to the maritime sector by expanding its operations globally and allowing the company to serve new markets. The global supply chain has become an increasingly attractive target to cyber attackers as it provides the potential for large-scale extortion, often running into millions of dollars, and damaging reputations.

“I think most people fail to appreciate how critical the maritime industry is for global trade and how unprotected its assets are from basic cyber attacks,” explains 2.0 Ventures Principal Bobby Meinhold. “We are incredibly impressed with Cydome’s founding team and think their collective experience in Israeli civilian tech, military security, and maritime ecosystems is critical to their ongoing success.”

“We are at a critical moment in the market, with a lot of technology changes and also tougher regulatory requirements. This new round will enable Cydome to expand its market presence and operations globally,” said Nir Ayalon, Cydome CEO, “I am thrilled to welcome 2.0 Ventures, MD One, Camden Capital, Pointman I UK, and New Gate Capital to Cydome. This investment is not just a validation of our vision to revolutionize maritime cybersecurity but also a testament to the hard work and dedication of our entire team.”