Shield-IoT

Shield-IoT uses the coreset-AI approach to provide IoT security and monitoring solutions for large-scale IoT networks, applications, and devices in the smart grids, smart cities, connected transport, connected buildings, smart logistics, and industry 4.0 verticals. Shield-IoT’s “coreset-AI” patented technology is a mathematical construct that is based on over 12 years of academic research in the field of coresets and backed by more than 35 academic papers. The coreset compresses data from one million data points to 20 in real time and provides high-quality accurate anomaly detection in minutes, as it runs on smaller datasets. Shield-IoT’s coreset-AI platform offers up to 20 times fewer false alarms than existing anomaly detection solutions, which are not feasible in large IoT networks or edge devices.

As of November 2021, Shield-IoT had six pending patents based on this mathematical technique and a headcount of 15, which it intended to double in 2022.

In November 2021, the company raised USD 7.4 million in a Series A funding round co-led by NextLeap Ventures and Bloc Ventures. The company was to utilize the funds to expand its services to secure millions of IoT devices in 2022, expand its sales and marketing team, accelerate product development, and expand into the North American market.