Italy-based fintech startup qomodo has secured £1.3m in Pre-Seed funding to further strengthen its cybersecurity platform and support its activities in Europe and the US.
Founded by a team of former BAE Systems and NATO cybersecurity experts, qomodo is a leading company for Extended Internet of Things (XIoT) cybersecurity focused on detecting and preventing threats at the host level within embedded systems. is a pioneer in the development of advanced systems.
XIoT and its vulnerabilities
XIoT includes devices that connect physical systems to the internet, extending beyond traditional servers and laptops.
Nation-states such as Russia, China, and North Korea are actively engaged in sophisticated cyberattacks targeting critical infrastructure around the world. These attacks often exploit vulnerabilities in his extended IoT environment, and globally he is responsible for high-profile cyber attacks such as the NotPetya incident, which caused over £950 million in damages. Here is an example.
As reliance on IoT technology increases in areas critical to national security and economic stability, nation-state actors and cybercriminals are looking to exploit the rapid technological integration and existing security gaps within the IoT.
How qomodo fights cybercrime
Qomodo's advanced IoT monitoring and threat prevention software agents are designed to combat these threats by integrating machine learning techniques to proactively detect and block intrusions, and are designed to combat these threats by integrating machine learning techniques to proactively detect and block intrusions. Protect your critical infrastructure without impacting performance.
qomodo allows you to “see” devices that were once “black boxes” and profile their behavior and vulnerabilities.
Qomodo officials said the accelerated adoption of IoT devices and inadequate security measures are creating significant risks. Malware targeting IoT has increased by 400%, with attacks costing £1 billion per year in the UK alone. Their intelligence-led approach and robust, resource-efficient software agents are a vital weapon in ensuring the security and resilience of the IoT ecosystem against the backdrop of international cyber warfare.
The capital raised in this round will enable qomodo to further strengthen its platform-agnostic software agent and support the company's expansion in Europe and the US, enabling direct customer engagement and helping improve product market fit.
