TRUMPF Venture invests in two AI/ML-powered cyber security start-ups

TRUMPF Venture acquired minority stakes in security start-ups CYR3CON and L7 Defense

Ditzingen, 14 January 2021 – The corporate venture capital unit of the TRUMPF Group closed minority investments in two cyber security start-ups: US-based CYR3CON™ as well as Israel-based L7 Defense.

CYR3CON™ has developed AI/ML-based software that mines information from hacker communities to predict exactly which vulnerabilities hackers will attempt to exploit in the future. CYR3CON™ is breaking new ground with this technical innovation, providing companies with an early warning system of potential vulnerabilities in their IT infrastructures. Customers use a platform provided by CYR3CON™ to safeguard against incidents such as unauthorized data access and cyberattacks, sidestepping the damage that would otherwise occur. 

L7 Defense developed an enterprise-grade API (application programming interface) security solution that protects modern API-centric IT architectures from a full range of intelligent cyber-attacks. Their Ammune™ platform uses an innovative unsupervised AI/ML-approach to enable a highly automated low-maintenance security solution that is able to protect API traffic at scale.

“Both investments underpin our strong belief that cyber security is critical for industrial solutions to provide appropriate resilience facing increasing cyberattacks” said Dieter Kraft, Managing Director of TRUMPF Venture. “We are excited to work with both start-ups and combine their deep expertise in AI/ML as well as cyber security with TRUMPF’s strong footprint in connected, smart industrial solutions.“

		
About CYR3CON®
CYR3CON™ predicts cyberattacks using proprietary artificial intelligence technology. The company broke new ground with key technical innovations in predicting security events and the emergence of new exploits. CYR3CON’s customers use the SaaS-based platform to predict attacks and justify the use of resources to avoid costly incidents like infrastructure compromises and data breaches.

For more information about CYR3CON, visit www.cyr3con.ai

About L7 Defense
L7 Defense is an API security startup company. Its Ammue™ solution actively protects APIs and API-based applications from related threats, while utilizing unsupervised, innovative AI/ML technology. Ammune™ solution was recognized by Frost & Sullivan as leading the API Security market and is known for its unsurpassed automation, superior threat coverage while keeping normal traffic undamaged. It is deployed at financial, telecom and SaaS sectors in North America, Europe, and APAC. 

For more information about L7 Defense and its products, visit www.L7Defense.com

About TRUMPF
The high-technology company TRUMPF offers production solutions in the machine tool and laser sectors. It is driving digital connectivity in manufacturing industry through consulting, platform and software offers. TRUMPF is the world technological and market leader for machine tools used in flexible sheet metal processing, and also for industrial lasers.
In 2019/20 the company – which has about 14,300 employees – achieved sales of 3.5 billion euros. With over 70 subsidiaries, the TRUMPF Group is represented in nearly all the countries of Europe, North and South America, and Asia. It has production facilities in Germany, France, Great Britain, Italy, Austria, Switzerland, Poland, the Czech Republic, the USA, Mexico, China and Japan.

For more information about TRUMPF go to www.trumpf.com

About TRUMPF Venture

TRUMPF Venture extends the TRUMPF group’s comprehensive activities to promote innovation and to detect disruptive technologies and business models early on. Out of a first fund of 40 million euros, the corporate venture capital arm invests globally in early-stage start-ups active in areas complementary or adjacent to the TRUMPF core, such as Advanced Photonics and Smart Factory Solutions. Funded start-ups benefit from an extensive network, deep domain knowhow, proven skills in scalability as well as support to access the TRUMPF group and its ecosystem. The requirements for a potential investment are a strategic fit, a high innovation leverage and differentiation in business model or technology, an experienced management team and risk adequate financial returns.

Find out more about TRUMPF Venture at www.trumpf.com/s/venture

Press contact:
Rainer Berghausen	
Head of Group Communications	
+49 7156 303-31720	
rainer.berghausen@trumpf.com