Vdoo has raised $32 million for securing the IoT devices
Gartner has predicted that by the end of 2020, the world will be filled with over 20 billion connected devices. And this number has made some of the executives of tech companies extremely worried. On the other hand, Spicework has conducted a recent survey which suggests that around 90% of the IT professionals around the world have a serious concern that the new wave of technology will give rise to privacy and security issues.
Additionally, eSecurity Planet produced a distinctive study in the year 2019. The study states that 31% of the developers of IoT think that the source of cybersecurity trouble in IoT lies in its firmware or the software.
Amid the scrutiny of IoT due to negligent cybersecurity, Vdoo may have just brought the solution that the industry needs, before jumping into the details and principles of the cybersecurity solution(s). It is better to have an insight into the company. Vdoo is an IoT startup based in Israel. On 24th of April, the startup has shared the winding up of a contemporary financing round.
Vdoo told VentureBeat that it has successfully raised more than $32 million as series B funding. GGV and WRV led capital financing; in addition, NTT DoCoMo also took part in the financing. After NTT DoCoMo collaboration, the total amount of money that venture capital raised was $45 million.
Natenal Davidi, the co-founder and the Co-CEO of the company, said that they would use cash infusion for accelerating Vdoo’s development of automated analysis capabilities. The development is expected to benefit the binaries of seventy million embedded systems. By the looks of it, Vdoo’s Vision will also benefit over 16,000 versions of the embedded systems.
The Vision from Vdoo will analyze Internet of Things device firmware that calculates the treats and at the same time creates security online. It provides steady guidance for the malpractices, backdoors, and probable zero-day exploits among others.
**This post was published on https://venturebeat.com
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