Cyviation, the First Company Focusing on Aircraft Cybersecurity, Announces an additional $4M Raise, Securing Initial Fleets in both Commercial and Private Aviation
Thursday, October 12, 2023
Aviation Cybersecurity Ensures Safe, Secure, and Proactive Defensive Measures and Supports Airlines and Operators' Compliance with Upcoming Regulations
TEL AVIV, Israel, Oct. 4, 2023 /PRNewswire/ -- Cyviation, the first cybersecurity company focusing on aircraft security by providing multiple layers of resilience ranging from fleet assessment and aircrew training to Aviation SIEM - aircraft cyber event management, announces an additional $4M raise. This funding is part of a larger round and is expected to enter Series A by H1 2024.
The company recently announced they have reached the commercial stage of its SkyRay(TM) solution ahead of plan and is already engaged with multiple industry players, from commercial airlines to OEM, manufacturers, and regulatory agencies. One of the companies pioneering the adoption of Cyviation's SkyRay solution is Polaris Aviation Solutions, a global aircraft management, charter, and project management company.
Arik Arad, Cyviation's Chairman and a seasoned veteran in the aviation security domain underscored the urgency, saying, "It's not a question of if, but when an aircraft will fall prey to a cyber-attack. We must consistently remain ahead of attackers, anticipating and neutralizing threats before they manifest."
With cutting-edge remote assessment tools, Cyviation's continuous, non-intrusive fleet assessment capabilities evaluate and map aircraft vulnerabilities. The assessment process includes threat impact analysis, recommended mitigations, and cyber resiliency to bolster and safeguard passenger and crew safety from malicious attacks.
Michael Santiago, CEO and President of Polaris Aviation Solutions, said, "In an industry lacking cybersecurity solutions, Cyviation provides the technology and tools that are desperately required, especially for business clients more sensitive to their privacy and safety. It is a pleasure to collaborate with an experienced team, and we are looking forward to continuing to innovate together."
The urgency for advanced cybersecurity in aviation is underscored by Technavio's recent forecast, which sees the aviation cybersecurity market expanding by 38.08 billion USD between 2022 and 2027. Concurrently, aviation regulators worldwide are crafting and enforcing more stringent cybersecurity standards, underscoring the need for advanced protective strategies.
Echoing this sentiment, Cyviation's CEO, Avi Tenenbaum, added, "In a world where cyber threats are ever-present and regulatory measures continuously evolve, our mission is to provide the aviation sector with unparalleled cybersecurity defenses."
Additional Cyviation news will be announced in the coming weeks.
About Cyviation
Launched in 2021, Cyviation dedicates its resources to shield commercial airlines and private jets from cyber adversaries. Headquartered in Herzeliya, Israel, and in the process to establish a U.S. presence and entity, the firm's vision encompasses a vast global footprint in its ambitious expansion roadmap.
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SOURCE Cyviation
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