Israel Aerospace Industries is partnering with India’s Tech Mahindra to offer cybersecurity services to corporate and government customers in India, the Indian company said this week. The deal is actually with IAI subsidiary ELTA Systems to design and build security operation centers, computer emergency response teams and forensic laboratories based on automation, artificial intelligence and machine learning analytics.
“Partnership with IAI will be a multiplier force for Tech Mahindra’s robust cyber security expertise world over,” said Tech Mahindra’s chief executive, C.P. Gurnani. The companies intend to offer new services in cyber-intelligence, protection, monitoring, identification and defense, he said.
Esti Peshin, an IAI vice president, said Tech Mahindra has a presence in more than 90 countries and the partnership would give IAI a competitive advantage, enabling the partners to better offer cybersecurity for governments, critical infrastructure and large enterprises. (TheMarker)
Israeli tech industry seen keeping its growth trend going
Israel is set to see further growth in the tech industry, says financial data company PitchBook. “The private market ecosystem in Israel has been maturing rapidly over the past few years, underscored by several big deals and the emergence of a technology cluster in the area around Tel Aviv known as Silicon Wadi,” it said. “Despite its relatively small size and a population of around 8.9 million, the nation has become one of the most technologically influential hubs in the world due, in part, to a young and well-educated workforce and a favorable entrepreneurial environment, which is supported by the country’s government.” PitchBook cites Israel’s Military Intelligence veterans as well as strong ties to American investors as factors in Israel’s growth. “Israel has developed into a real draw for foreign investors. Its expertise in IT and cybersecurity, combined with its focus of healthcare-related trends, has been an integral part of building and maturing its evolving ecosystem,” PitchBook adds. (TheMarker)
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Cyberdefense firm Hysolate raises $18 million
Cyberdefense company Hysolate raised $18 million as it completed its second round of financing, the company announced this week. The round was led by funds Bessemer Ventures and Innovation Endeavors, and also drew investment from NGP Capital. Hysolate, which has raised a total of $23 million, develops a product that protects individual computers at organizations. It uses virtualization technology to run several operating systems on the same computer, letting the user work freely without having sites or programs blocked, while still being able to safely access the company’s most sensitive material on the same machine. The user’s experience is not affected by the company’s software, enabling organizations to offer their employees more freedom of operation on their devices than is commonly accepted under more prevalent technology. Hysolate is yet another offshoot of the think tank Team8, which forms and invests in cybertech companies. (Amitai Ziv)
Digital-service provider Glassbox raises $25 million
Startup Glassbox completed a $25 million fundraising round, led by Washington, D.C.-based fund Updata Partners. Other investors included Israeli fund Gefen Capital and Ibex Investors, which also invested in a round in 2015. Glassbox, which has raised a total of $32.5 million since its founding in 2010, specializes in digital customer management and lets companies improve the experience of website and app users by tracking their actions. “There’s a gap between the people addressing the service experience and the technology people,” says Glassbox CEO Yaron Morgenstern. For example, most customers are displeased with the digital service offerings at institutions like banks and insurance companies, he says. (Irad Atzmon-Schmayer)