Qualcomm Ventures Backs CyberX in $18 Million Round

CyberX Ltd., a startup developing industrial cybersecurity systems, has raised $18 million in a round led by Qualcomm Ventures and venture capital firm Inven Capital SICAV as. The investment brings CyberX's total equity funding to date to $48 million.

Founded in 2013 by former Israeli military cyber experts Omer Schneider and Nir Giller, Israel-based CyberX develops cybersecurity systems for companies in the fields of energy, pharmaceuticals, chemicals, oil, and gas. The company’s software monitors industrial networks to detect and block targeted attacks, malware, and insider threats and critical vulnerabilities.

Existing investor Norwest Venture Partners, which led CyberX's previous round, also participated in the current investment, as did Glilot Capital Partners, Flint Capital, and OurCrowd.

CyberX has “the right management team, deep domain expertise, and scalable technology to address the needs of the world’s largest and most complex enterprises,” said in a statement Boaz Peer, director of Qualcomm Israel Ltd. and investment director at Qualcomm Ventures.