Cybersecurity startup protects 500 million devices for Verizon, Orange, Virgin Media and more

A weekly selection of news and investment opportunities from OurCrowd, the global venture investing platform

Startup of the Week

SAM Seamless Network: Protecting 7M+ routers, 500M+ devices?

The rapid spread of insecure internet of things (IoT) devices in homes and small businesses has created a major cybersecurity headache with hackers penetrating networks through common hardware such as printers or webcams. The technology from SAM Seamless Network provides cybersecurity software, remotely deployed onto network routers to protect vulnerable connected devices from remote attack. SAM is deployed on over 7M routers and protects more than 500M connected devices. Customers include Verizon in the US, Virgin Media in the UK and Ireland, Orange in Belgium, and Bezeq in Israel. Among the company’s investors are Intel Capital, Night Dragon, BlackBerry, Ericsson, Verizon, ADT Security Corporation, and Blumberg Capital. OurCrowd is leading SAM’s Series C funding round. Additional information is available under NDA.?

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Institutional investors return for $10M Atlas Obscura round

Travel media giant Atlas Obscura says twenty of its institutional investors are returning to join the company’s $10M funding round, Sara Guaglione reports in Digiday . Atlas CEO Warren Webster says New Atlantic Ventures and AlleyCorp are among those participating alongside OurCrowd, which is investing in the firm for the first time. The company aims to scale in light of growth in sponsor commitments from tourism boards and destination marketing organizations. Atlas Obscura has established partnerships with national, state, and city tourism bodies, and major multinational brands including Delta Airlines, Netflix, Amex, Starbucks, and Land Rover. The company signed two seven-figure deals in the first half of January this year. The current round is open to OurCrowd investors for a limited time.

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George Gilder: Hailo poised to ride AI tipping point

“At present, we're in the IBM mainframe era of AI,” investment guru George Gilder, Founder of Gilder’s Private Reserve, told the worldwide audience for our Startup Investment Masterclass . This “AI gigantism” of big data centers and billion-parameter models, is going to give way to AI “in every smartphone and every pocket, distributed through the internet of things,” Gilder said. Is AI at “a tipping point, similar to the introduction of the smartphone?” Gil Press asked in Forbes after hearing Gilder discuss the prospects for?Hailo , our AI edge accelerator chip maker. Nvidia currently has 80% of the AI chip market. Gilder says that dominance cannot continue, and that Nvidia “is going to give way to companies like Hailo in the future.” As AI processing migrates from large data centers to the edge, it will create “an opportunity for a new player to come and take a significant market share,” said Orr Danon, CEO of Hailo, which has created a nimble, low-power AI processor that enables smart devices to perform sophisticated deep learning tasks with minimal power consumption, size, and cost.

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Reuters: Pentagon close to signing rocket engine contract with Ursa Major?

To address surging demand for solid fuel rocket engines, the Pentagon is close to giving a contract for new motors to OurCrowd portfolio company Ursa Major , Mike Stone reports for Reuters . Rocket motors play a vital role in propelling the billions of dollars’ worth of missiles and rockets ordered to supply war efforts in Ukraine and Israel, and restock dwindling US inventories. The contract would signal a significant vote of confidence in Ursa Major as officials seek more suppliers beyond the two dominant rocket engine makers in the US.?

Syngenta chooses CropX for Midwest corn farming

Global agriculture giant Syngenta is installing precision farming systems from our portfolio company CropX in corn fields throughout the Midwest. Syngenta ran trials with CropX’s agronomic farm management system last season and found it helped improve sustainability metrics by decreasing the amount of water used in irrigation. “We selected CropX because its top-notch hardware and software enabled us to optimize irrigation and safeguard our yields,” says Gilber Argenta, Head of North America Seed Production and Supply Chain at Syngenta. “With CropX’s real-time data, visualizations, and insights, we can proactively manage our water. It has allowed us to keep our finger on the pulse of our fields, ultimately improving crop health.”

Golin taps Cyabra for client brand protection?

Public relations giant Golin inked a deal with our online threat intelligence startup Cyabra , Natasha Bach reports in PR Week . Golin will use Cyabra’s counter-disinformation platform to bolster its brand-protection offerings to its global client base. “Disinformation campaigns can quickly damage brands, causing harm to their reputation. Cyabra’s AI-powered platform helps us stay ahead of these threats, giving clients the insights they need to act swiftly and decisively,” says Jonny Bentwood, Global President, Data & Analytics at Golin.

Ravin AI granted Japanese patent for AI-powered car inspection tech

OurCrowd portfolio company Ravin AI was granted a Japanese patent for its vehicle inspection technology that combines deep learning AI algorithms with fixed or smartphone cameras. Ravin’s DeepDetect platform captures detailed images of a vehicle and analyzes them against a calculated model, enabling granular damage reporting, including a comprehensive inspection of every moving part. DeepDetect was patented in the US and Europe in 2023.

Nidec designs motor for Air EV flying vehicle?

Nidec Motor Corporation, a leading US motor manufacturer, will develop the motor for the production model of AIR ONE, a two-seater eVTOL (electric vertical takeoff and landing) aircraft to be produced by our portfolio company Air EV . Funded by the Israel-US Binational Industrial R&D (BIRD) Foundation, the collaboration marks a significant step towards the mass production of a consumer eVTOL aircraft for the first time. “We're ecstatic to create an aerospace centric motor, designed for safety, that AIR ONE customers know they'll be able to depend on,” says Vincent Braley, CEO of Nidec Aerospace.

Inter Miami’s Chase Stadium adds Zippin checkout-free stores

Fans of the Inter Miami CF soccer team can get their gametime snacks in a flash thanks to the new checkout-free stores from our portfolio company Zippin . Chase Stadium, the team’s home arena, opened four new Zippin shops ahead of the club’s opener in their Ft. Lauderdale stadium on February 21st. These are the first outdoor checkout-free stores ever deployed in existing structures and tents.?

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More than 1,700 high-tech jobs worldwide

Looking for a job? You may find your next adventure with an OurCrowd portfolio company on our?Portfolio Jobs ?page. We have more than 1,700 vacancies at our portfolio companies around the world, seeking skilled staff at all levels from coders to bookkeepers, data scientists to dealmakers. Click on the link and start looking for the next step in your high-tech journey.

About this Newsletter

Startup Beat?is a weekly selection of news and investment opportunities from?OurCrowd , the global venture investing platform.

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OurCrowd is a global venture investing platform. To date we have more than $2.3 billion in commitments, 230,000 registered investors, 440 portfolio companies, 56 venture funds and 63 exits.

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