TechNation: Rafael Wins Contract to Secure Consumer-loan Data Network

SCADAfence raises $10 million; Cellcom eyes investment in fiber-optic network

Tomer Appelbaum

Rafael, the state-owned defense company, won a contract Wednesday to supply cybersecurity for a network being developed by the Bank of Israel for banks to share information on consumer loans. Rafael will act as a subcontractor for the Israeli company Matrix, which was named prime contractor for setting up the Bank of Israel’s central credit register earlier this year after winning a 140-million-shekel ($39.9 million) contract. The network, which will handle especially sensitive financial information, will let banks exchange information on consumer loans, which should enable lenders to better assess credit risks, provide more loans and increase competition. With one of the most advanced cybersecurity centers in Israel, Rafael is the prime contractor of Israel’s national Cyber Emergency Response Team, or CERT, a giant governmental to detect, monitor and solve advanced cybersecurity threats and attacks at a national level that launched operations at the end of last year. (Ora Coren)

SCADAfence raises $10 million for industrial cybersecurity
SCADAfence, an Israeli startup that provides cybersecurity software for industrial networks, said Tuesday it had secured $10 million to be used to expand its Tel Aviv-based research and development and global business development teams. Investors include Israel’s JVP, iAngels and DS Strategic Partners as well as San Francisco-based NexStar Partners and Japan’s 31Ventures Global Innovation Fund. SCADAfence provides security for corporate networks managing manufacturing that have been rendered more vulnerable to attacks as they are increasingly connected to external networks. “OT networks were not designed with cybersecurity in mind, yet now cyberattacks have become an imminent threat and companies cannot stand to risk exposing these environments, which is where we come in,” said Yoni Shohet, who founded the company with Chief Technology Officer Ofer Shaked. Customers include Global Fortune 500 companies in the automotive, pharmaceutical, chemical and energy industries. (TheMarker)

Cellcom nearing investment in IBC fiber-optic network
Cellcom Israel is moving closer to taking a stake in Israel Broadband Company, the troubled operator of a nationwide fiber-optic network. Israel’s biggest mobile operator said in its quarterly report Wednesday that it had made progress in surmounting two obstacles to completing a deal. Cellcom said it had reached a tentative understanding with the Israel Electric Corporation, which owns 40% of IBC and whose employees have exclusive rights to work on the infrastructure, to lower its steep labor costs. Cellcom also said it was close to a nonbinding agreement with an unnamed party for a “significant” co-investment in IBC, another condition for doing the deal. Cellcom sees IBC’s fiber-optic network as part of its strategy of becoming a comprehensive telecommunications group, and offering faster internet service as well as internet television. The company is also in talks with rival Partner Communications to jointly build a nationwide fiber-optic network. (Amitai Ziv)