Accelerating its push to aggressively grow global deployments and its market presence worldwide, NanoLock Security expanded its executive team to add deep utilities and security expertise with several new appointments including David Stroud who has joined NanoLock as GM of Europe and APAC.
Stroud, who will be based in NanoLock’s UK office, is an industry-recognized leader with over 15 years of deep international experience, along with direct expertise in the energy and metering sector – including through his successful tenure as executive director of EDMI Europe, a leading smart metering solution provider, and as general manager of Advanced Metering Services, New Zealand’s largest metering provider.
Stroud’s presence in Europe and his highly relevant knowledge of this market will enable NanoLock to pursue further strategic partnerships in Europe and APAC with utilities and manufacturers.
The company has embarked on an ambitious growth trajectory including a new Series A funding round of $11M, the acquisition of two new industry patents, and strategic partnerships and deployments around the world.
“We are dramatically expanding our footprint with deployments, partners, technology patents, and now we have added executives with impressive reputations in cybersecurity and utilities as well as market-specific knowledge that will complement our growth and expansion plans and allow us to accelerate deployments,” said Eran Fine, the CEO and Co-Founder of NanoLock.
“In just the past few months, SolarWinds, SITA, and the Colonial Pipeline breach, as well as other insider and supply chain attacks on utilities and critical infrastructures have escalated rapidly. Nothing will stop hackers from continuing to try to breach these networks. However, NanoLock’s Zero Trust, device-level solution is a truly unique offering that can stop the growing waves of cyber-attacks from succeeding in infiltrating our critical infrastructure,” said David Stroud, NanoLock GM, Europe and APAC. “I’m excited to join this fast-growing company and help unlock the potential of this technology in Europe and APAC.”
NanoLock has also added security industry veterans including Yanir Laubshtein as Vice President, Cybersecurity and Industry and Sagi Berco as Vice President of Research and Development. Both bring rich cybersecurity knowledge to the NanoLock team.
Laubshtein formerly led PwC’s ICS/OT Centre of Excellence and worked for over a decade in Israel’s Ministry of Energy and Critical Infrastructures and the Water & Sewage Authority, subsequently designing and managing the development of Israel’s first National SOC for Critical Infrastructures. Berco spent more than a dozen years in the Israeli Prime Minister’s Office, and took part in the development of groundbreaking systems and projects that were awarded to the Israeli Defense Prize.
New funding round
NanoLock has secured an $11M Series B round from new investors OurCrowd, HIVE2040 (by Avnon Group), and Atlantica Group as well as current investors AWZ Ventures, a private investment group that includes former Canadian Prime Minister Stephen Harper. This investment round will aid NanoLock in accelerating their global developments of device-level cybersecurity solutions and further the company’s penetration into utilities, industrial, and critical infrastructure markets.
Partner and customer growth
The company’s global reach is also expanding with deployments and partnerships around the globe, including in Japan, Spain, Italy, India, the Netherlands, Switzerland, Singapore, and the US. Notable partners include smart meter manufacturers like Genus Power and software providers like Atlantica Digital and Nozomi Networks. Joint ventures with the largest telecom provider in Turkey and a market-leading electrical utility as well as a leading industrial manufacturer will be announced soon, along with multiple new customers and deployments.
To secure the value of their solution, NanoLock has acquired an additional new patent with the United States Patent and Trademark Office. The Access Control for Integrated Circuit Devices patent covers a security system for devices that physically locks the hardware memory by preventing overwrite, modification, manipulation, or erasure of data stored in the memory.
A zero trust approach is the key to NanoLock’s growth, as they are the first company to apply that principle to the device level, covering smart meters, industrial machines, controllers and gateways, smart lighting, and more. By embedding a gatekeeper directly into the flash memory of each connected edge device, NanoLock prevents hackers from making any configuration, calibration, or firmware, or software changes without first being authenticated and signed by an external authorized server.
This supports business continuity by maintaining the operational integrity of devices, allowing for secured and managed firmware updates, reliable status updates and alerts, and unique forensic data—all with a lightweight, zero-power processing and memory footprint.