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Hub Security raises $5M Series A for its cryptography platform

Hub Security, a Tel Aviv-based startup that developed a software and hardware platform for cryptographic procedures, today announced that it has raised a$ 5 million Streaks A round led by AXA Ventures. Crowdfunding platform OurCrowd too participated in this round. Like most companionships at the Series A theatre, the company plans to use the financing to expand its team and technological sciences offerings.

On the hardware slope, Hub Security is building both a relatively standard Hardware Security Module( HSM ), consuming FPGAs to accelerate many processes and to create a physical disconnect between the part of the machine that holds the secrets and the outside world.

But it’s also building a mini-HSM, which is basically a small hardware wallet with a built-in firewall, EMI shield and tamper-resistant case. On the application place, the company offers tools for managing the signing and permission workflows, as well as a machine learning-based tool that has been designed to anticipate cyberattacks on the system.

Like most Israeli cybersecurity fellowships, most of Hub Security’s founding team got its start in the Israeli Defense Forces’ Unit 8200. The unit founded the company in 2017, but co-founder Andrey Iaremenko had started working on the problem a few years earlier.” He was trying to figure out a method to deal with mysteries in motion for anything that’s not military, anything that doesn’t require a lot of resources and can be relatively cheap and is likely to be commoditized easily ,” Eyal Moshe, Hub Security’s CEO, told me.

In the early days, the company focused a lot of its marketing on the blockchain sell, but as Moshe told me, it has derived its messaging quite a bit since then.” The imagination didn’t reform. What changed was the focus and how we pitch it, but the perception didn’t alter much. What I think is changing recently is some understanding of how we can market it alongside how we can add value to shadow patrons without encroaching too much with their setup ,” said Moshe.

Unsurprisingly, Hub Security’s focus today is on working with fintech and cloud corporations. It already has a strategic partnership with Seagate Technology’s Tel Aviv-based Lyve Labs, which focuses on partnering with local companies that work on building brand-new answers for managing exabytes of data.

” I was actively looking for a’ software-defined HSM’ platform company in Israel for the last twelve months and I was very pleased when I gratify Hub Security and learned about their unique render. We concurred very quickly to partner and invest ,” said Moshe Raines, spouse at OurCrowd and Labs/ 02 organizing collaborator. That speculation came together only around the time Israel went into its strict COVID-1 9 lockdown

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