TRUMPF Venture acquired minority stakes in security start-ups CYR3CON and L7 Defense
TRUMPF Venture invests in two AI/ML-powered cyber security start-ups
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.“