SIGA OT Solutions, an Israel-based provider of operational technology (OT) cybersecurity solutions, revealed on Monday that it had raised $8.1 million in a Series B fund raising round.
PureTerra Ventures led the current round of funding, bringing the total amount raised by the company to $15 million, with contributions from Israeli venture fund SIBF, Moore Capital, and Germany-based industrial solutions provider Phoenix Contact.
SIGA intends to use the funds to boost sales and strategic collaborations in North America, Europe, the Far East, and the United Arab Emirates, according to the company.
SIGA has created a SaaS system that monitors Level 0 electrical signals to detect anomalies that could indicate cyberattacks or operational failures in industrial operations and critical infrastructure.
“In any operational setting, Level 0 is the richest and most trustworthy level of process data,” SIGA noted. “Electrical signals from sensors installed on equipment and machinery of electric, gas, and water utilities, industrial enterprises, and military facilities are included at this level. SIGA claims its solution — which is available for a monthly subscription fee — has already been used by organisations all around the world, including the New York Power Authority, Israel Electric Corporation, Singapore’s water company, and Israel’s water infrastructure.