#Netherlands #Amsterdam #Cyber-Physical Systems #Engineering Intelligence #Indurex

Indurex Secures €7 Million to Strengthen Engineering Intelligence

Indurex, a trailblazing company in the realm of artificial intelligence (AI) focusing on cybersecurity for Cyber-Physical Systems (CPS), has recently announced a significant funding achievement. The company raised €7 million, which is poised to bolster its initiatives in enhancing the security of critical infrastructure and industrial operations across Europe and the Middle East. This funding round was led by Contrarian Ventures and also saw participation from Axeleo Capital and Curiosity, reflecting strong confidence in Indurex’s innovative approach to fostering safety within industrial environments.

The backdrop for this funding comes at a crucial time, as cyber threats increasingly target CPS, systems which are vital for maintaining operational safety in various sectors such as oil and gas, energy, utilities, and manufacturing. According to recent industry reports, 22% of industrial organizations have faced cyber incidents related to operational technology, highlighting the urgency for enhanced cybersecurity measures.

Bridging the Gap with Engineering Intelligence

Traditional operational technology (OT) security measures often fall short in providing the necessary oversight that adapts to the complexities of today's interconnected environments. Many existing tools focus narrowly on monitoring network-related activities, neglecting vital engineering configurations and safety settings. This is where Indurex distinguishes itself with its proprietary solution dubbed Engineering Intelligence. This approach integrates safety, cybersecurity, and operational protocols as interrelated fields rather than isolated components.

Indurex has developed a unique platform, SafeGuard AI™, which taps into a variety of data sources such as Distributed Control Systems (DCS), Safety Instrumented Systems (SIS), and alarm management systems. Its interoperability capabilities allow operators to receive a holistic view of their industrial systems, surfacing anomalies or deviations that demand immediate human intervention.

In a statement from a Head of OT Operations at a global manufacturing organization, it was noted that, “With Indurex, cybersecurity and process safety are no longer managed in silos. This integrated view significantly enhances our ability to transition from detection to action, solidifying both safety integrity and cyber resilience.” This feedback echoes the positive shift towards a more coordinated approach in managing operational data.

Emphasizing Operational Integrity and Cyber Resilience

The necessity for this funding is underscored by the evolving landscape of cybersecurity threats. With the rise of electrification and the increasing complexity of CPS, the operational world is encountering challenges not just from traditional IT threats but from more sophisticated attacks that target both digital and physical domains. Indurex's platform is designed to address these emerging threats by transforming raw industrial data into actionable insights, allowing operators to respond effectively.

By correlating various operational and security signals, Indurex has created a system that supports operational excellence through enhanced safety integrity. This shift towards context-aware responses is significant; it not only facilitates cost compliance by automating reporting but also provides defensible evidence against industry standards such as IEC 62443, NIST CSF, and others.

Pioneering Solutions in a Competitive Market

Indurex's innovative solutions have already begun attracting a diverse clientele. Their early adopters include a mixture of mid-sized energy firms and large multinational corporations, illustrating the wide applicability of their technology. As the company sets its sights on expanding its reach into the United States and Asia-Pacific regions, the successful funding will facilitate further research and development, thereby enhancing its market position.

Jalal Bouhdada, the Founder and CEO of Indurex, stated, “Cyber defenses in critical sectors have overly focused on the network. Our approach emphasizes the foundational industrial data, which is essential for ensuring safe operations. Empowering operators with Engineering Intelligence is our goal, and this funding will scale our impact.”

As cyber threats continue to evolve, Indurex stands out as a champion of resilience in critical infrastructure, offering sophisticated solutions that embrace the interconnectivity of industrial data and cybersecurity. The implications of these advancements are profound, promising to set a new standard for safety and cybersecurity across the industry.

Conclusion

The journey of Indurex represents a significant step forward in securing the backbone of modern industry. With its commitment to advancing safety and operational integrity through innovative AI solutions, Indurex not only positions itself as a leader in the market but also sets a transformative agenda for the future of industrial operations. The implications of its work will undoubtedly resonate across sectors that rely heavily on the integrity and resilience of their cyber-physical systems.