Israeli cyber security giant Siga has announced it will open a European headquarters in Luxembourg, focused on scaling cyber defence services for national infrastructure and manufacture.
Siga OT Solutions, which participated in a House of Deep Tech roundtable in January with the Luxembourg Ministry of the Economy, selected Luxembourg as a “strategic gateway” into the European Union, according to a press statement by CEO Amir Samoiloff.
The firm has developed an incipient failure detection solution, dubbed Siga Platform, a reportedly unhackable system offering AI-enhanced monitoring and incorporates a comprehensive process anomaly detection system that monitors critical assets using LEVEL 0 ICS electrical signals-based AI.
Cyber attacks on critical infrastructure
The solution comes after the number of national infrastructure networks being hacked reached new highs. The energy sector is a target, with the first attack on a national grid occurring in 2013 on the Bowman Avenue Dam in New York.
Meanwhile, the first cyber attack to trigger a power outage took place in 2015 in Ukraine, where three utility companies were paralysed by the BlackEnergy malware. Israel, where the startup was found, was hit by three known cyber attacks in 2020.
François Thill, Luxembourg’s director of cybersecurity and digital welcomed the firm’s decision to expand into Luxembourg.
He said: “Moving beyond the network security layer to level zero is critical to the effective cyber risk governance of our manufacturing hubs and critical infrastructure.”
In 2021, Siga raised $8.1 m in Series B funding in a round led by PureTerra Ventures. Investment came from Israeli venture fund SIBF, Moore Capital and Phoenix Contact, according to TechCrunch.
