The startup develops biometric software technology that secures financial institutions from identity theft and fraud associated with IoT payments. Its patent-pending approach protects critical operations and systems from tampering, sensor manipulation, and communication hijacking, enabling banks and payment gateways to achieve real-time threat detection and enhanced cybersecurity.
Funding
$7.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Industrial IoT (IIoT) systems are increasingly vulnerable to cyberattacks that can compromise sensor data integrity, leading to operational disruptions, economic losses, and safety hazards. Traditional cybersecurity measures often fail to detect tampering, sensor manipulation, and communication hijacking at the device level.
Solution
IXDen provides a software-based cybersecurity solution that protects IIoT devices and operational technology (OT) systems by ensuring sensor data integrity and predicting equipment failures. The platform leverages a patented "biometric" IoT device identity, created from hundreds of dynamic and static parameters extracted from raw sensor data, to enable multifactor authentication and continuous monitoring. By applying proprietary AI and machine learning algorithms, IXDen models the behavior of physical systems, detects anomalies, and provides a system health indicator, known as the IXDen Grade, that reflects the trustworthiness of the data. This approach enables real-time threat detection, prevents data manipulation, and enhances the overall security and reliability of critical infrastructure.
Target Audience
IXDen targets organizations in industries such as water, energy, oil & gas, smart cities, and HLS that rely on IIoT devices and sensors for critical operations and are concerned about cybersecurity threats and data integrity.
Features
- Hardware-free/software-based solution that sits on the edge of Level 2 and accesses raw sensor data
- Dynamic device identity generation based on hundreds of parameters related to security and operations
- Multi-factor authentication for IoT devices
- AI-powered behavioral analysis for anomaly detection and failure prediction
- IXDen Grade: a system health and security status indicator
- Real-time detection of sensor deviations and abnormal system behavior
- Compatibility with any IoT device, network, or hardware