4YFN19 Startup of the Year: I’m the Kardashian of the Security Industry!

When Nanolock’s founder Eran Fine hacked a camera feed live on stage to demonstrate the vulnerability of connected devices, the audience was captivated. Having clearly shown the problem, Eran had perfectly set the scene for presenting his scalable solution to a judging panel that was wowed by Nanolock’s technology.

Nanolock won Startup of the Year at 4YFN19 in Barcelona last month and the win coincided with the announcement of two important contracts with Micron and Cypress – two major players in the world of semiconductors.

Following Nanolock’s big win, we spoke to Eran to see how things have progressed for him and what’s on the horizon for the business.

In a nutshell, what is Nanolock?

Nanolock’s story is protecting and managing edge devices (IoT). The more connected the world is becoming, the more risk there is to connected devices. Unprotected devices are easily hacked, as I demonstrated when I hacked the camera live on stage. We are a very small business but our customers are major players in the telecoms industry like Cypress and Micron. We have a really scalable product which is quickly becoming a necessity for the growing number of IoT devices, with many countries and markets now considering legislation to enforce device protection. Our plan is to become one of the fundamental technologies protecting devices.

What stage is your business at?

Nanolock raised money in 2017 and is now entering its Series B funding round. We expect significant growth in the next two years and are raising funds now for commercial scale up. This year, we’re focused on educating the market on new approaches to IoT security, continuing to refine our solution and grow customers and strategic partnerships. We’re excited to already be in partnership with 80% of the memory vendors in the market, working together to provide security management for various IoT applications and growing markets like smart cities, autonomous vehicles, telecoms and others.

What set you apart from the competition?

All of the competition was very impressive. We were very surprised to win – I was betting on another company to win! We are fearlessly trying to address a huge problem. It’s a big and unique vision and our technological approach is second to none. We have a very specific out-of-the-box approach to a sizeable and growing problem across territories, that is very innovative and increasing market adoption. We have the winning formula of innovation and commercial vision combined together.

The pitch is very short, but we found time to hack a camera feed live on stage which captured people’s attention for us to deliver a clear and concise message.

How have things been since the win?

I jumped straight on a plan from Barcelona and met with customers, partners and investors in the Bay Area after the win. Winning the award has resulted in worldwide exposure and great international coverage. We announced collaborations with Micron and Cyress in the same week and went from unknown company to a recognizable successful startup. My LinkedIn profile exploded in numbers on par with the Kardashians. I’m the Kardashian of the security industry!

We’ve been approached by investors and we are in the process of raising money. Companies are approaching us too as potential customers. It’s been a perfect storm for us: deal flow and investment interest in the middle of a funding round.

One of the prizes for Startup of the Year is a booth at a future show. Which one will you join?

For us, Los Angeles is an obvious choice. The US is a major market for us, we already have strong connections there with government users. It’s a good chance to build on market position and the GSMA will have both CTIA and Darpa at the show.

What’s the ambition for Nanolock 4 Years from Now?

To lay the fundamentals for making the world of IoT safer. We want to be a fundamental part of connected security to make a safer world where people can use their IoT devices with assurance.

 


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