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Crafting Better Cybersecurity for All, Fundings: Anthropic, 11 x, Focal Technologies
16 August 2023 - A Weekly Publication by New North Ventures
In an era defined by rapid technological advancement, New North Ventures is acutely attuned to the escalating need for robust cybersecurity measures. As recent reports and expert opinions underscore, the cyber landscape has become increasingly complex, posing threats to individuals, companies and nations.
As we navigate a world where technology underpins nearly every aspect of our lives, our concern deepens for safeguarding against evolving cyber risks that can compromise sensitive information and disrupt critical infrastructure. We remain committed to supporting innovative cybersecurity initiatives that contribute to a safer digital environment, ensuring the protection of data, privacy, and the interconnected systems that shape our modern world.
The alarming projection that by 2025 there will be four times more connected devices than people underscores the urgency to elevate public awareness about the risks posed by the Internet of Things (IoT) to sensitive data and privacy.
NATO's European members are using venture investing to boost their defense technology capacities.
23 NATO members have closed a €1 billion venture fund to invest in early-stage startups focusing on quantum computing and AI in participating states.
This approach is inspired by Silicon Valley and Pentagon's efforts to strengthen ties and foster defense-linked startups to counter overreliance on traditional defense contractors.
The NATO fund aims to address technological gaps highlighted by Russia's invasion of Ukraine, including areas like drone technology, signals jamming, and countering traditional threats like landmines.
Australian Prime Minister Anthony Albanese advises citizens to reboot their smartphones daily for cybersecurity reasons, a measure endorsed by experts.
The advice aims to counter cyber risks and potential monitoring or data collection by malicious apps.
Regular rebooting forcibly closes background processes that may be monitoring users or collecting data, making it harder for potential hackers.
While daily reboots encourage good cyber hygiene, experts warn that it may not fully protect against sophisticated attacks or stolen passwords, emphasizing the importance of cautious app usage and permissions.
A recent report by YL Ventures reveals insights into cybersecurity spending during the current market conditions.
Despite economic challenges, 45% of cybersecurity budgets in the surveyed companies remained the same or increased.
33.3% of respondents reported unchanged budgets, while 12.2% saw budget increases; 33.3% faced budget cuts, and 21.2% managed frozen budgets.
While 75.8% of cybersecurity leaders are open to meeting new vendors, preferences vary: 45.5% are open to any vendor, 18.2% prioritize solutions addressing pressing security needs, and 12.1% seek meetings with younger startups. Smaller startups are finding opportunities due to favorable licensing costs and tailored solutions.
Key People: CEO Dario Amodei
Elevator Pitch: A research company intended to create large-scale artificial intelligence systems that are steerable, interpretable, and robust.
Funding: The company raised $100 million of venture funding from SK Telecom on August 13, 2023.
Key People: CEO Hasan Sukkar
Elevator Pitch: An artificial intelligence marketplace intended to build and sell automated digital workers, starting with an artificial intelligence-powered sales development representative.
Funding: The company raised EUR 1.92 million of pre-seed funding in a deal led by Project A Ventures on August 11, 2023. No Label Ventures, Tiny Ventures, Rayan Shaikh, Felipe Navío and Mandeep Singh also participated in the round.
Key People: Founded by Eric Steinmeyer
Elevator Pitch: A solar instrument designed to address pressing contaminated water environmental challenges.
Funding: The company raised $50,000 of venture funding in the form of convertible notes from undisclosed investors on August 11, 2023.
Look for a new episode of Securing the Future Podcasts wherever you listen. In our latest episode, we have guest John Serafini sit down with General Partner Jeremy Hitchcock for an engaging conversation where John discusses the dual-use space and outlines ways to optimize the industry for a more secure future.