The weather has been quite wintery in the UK for the past week, but we've been keeping warm at RazorSecure by executing our 2020 strategy! We completed our most recent funding round in December, and we're pleased to welcome Mainport Innovation Fund II and Wentworth Limited to our great team of investors.
Our focus at RazorSecure has always been providing the best possible cyber security for passenger transport. We still live by our two founding principles, there has to be a faster way to detect cyber attacks and the number of false positives that cyber security software generates is too high.
The last year was excellent for RazorSecure, we have secured a number of great international customers and partners including Arriva, Icomera, Nomad Digital and VT Miltope. With the strategic vision and investment of the new investors, we aim to double the size of the team by 2020 and expand our customer base internationally.
Our new investors share our vision and bring new strategic contacts in cyber security, passenger transport and operational technology.
Digitisation of transport comes along with threats
New technology is setting the transport sector in motion. Maintenance is empowered by remote connectivity, cars are able to communicate with traffic lights to speed up journeys and travellers benefit from conveniences such as wireless connectivity and entertainment during their journey. At the same time, this trend towards digitalisation is accompanied by an increasing vulnerability to cybercrime.
The transport sector is facing extraordinary challenges in this regard, because it is characterised by a large public network with millions of users. Traditionally, the online environment has been strictly separated from operational systems, but this strict separation is increasingly fading due to the overall trend towards digitalisation.
RazorSecure software keeps transport systems secure even without internet
The RazorSecure software is designed to secure critical transport systems. Using artificial intelligence, the software detects how the system normally operates and then identifies any deviation from it as a possible threat. This is a different approach to traditional security systems that focus on known viruses and hacks, that enables RazorSecure to keep the number of attacks at a minimum while remaining effective for the life of the system.
Vulnerabilities exist in the most unlikely places throughout a network. And a transport network with many moving vehicles is particularly difficult to protect. Attacks on 'non-critical' networks such as entertainment systems or passenger Wi-Fi seem relatively harmless but can be a gateway for hackers to safety systems that are critical to safety.
One key advantage of the RazorSecure solution is that it does not require a permanent connection to the internet - So even in areas or places where there is no internet, the system remains secure. This is important in transport because connectivity is not always guaranteed, especially in hard to reach locations.
Expansion and wider market
RazorSecure’s main customers are in the rail and aviation sectors but its ambition is to serve a broader market, including the automotive and shipping industries.
In addition to the financial investment, the consortium of investors offers RazorSecure a diverse mix of knowledge. Mainport Innovation Fund (MIF II) is focused on innovation in transportation, whereas Wentworth Limited and existing investor Breed Reply have extensive experience investing in cyber security and the Internet of Things respectively.
Thijs Gitmans, fund manager of MIF II, explains:
"In a digitalized world, cyber attacks pose a growing threat to the security of transportation. RazorSecure has a smart team that developed a state-of-the-art cyber security solution for transportation and that is hence relevant for all our focus industries".
RazorSecure have previously participated in the GCHQ Cyber Accelerator in association with Wayra, working with the GCHQ team for 9 months and gaining unique insight into some challenges for securing critical infrastructure using artificial intelligence.