SIGA joined the House of DeepTech Roundtable with the Ministry of Economy of Luxembourg and Chief Information Security leaders in Europe last week to trade notes on best practices and lessons learned internationally.
Francois Thill, Luxembourg Ministry of Economy, Director of Cybersecurity and Digital: “Moving beyond the network security layer to level zero is critical to the effective cyber risk governance of our manufacturing hubs and critical infrastructure. We welcome SIGA into Luxembourg and to accelerate the company’s impact across the European Union.”
The global cybersecurity market, valued at USD 183.34 billion in 2020, has a CAGR of 11.6% from 2021-to 2030. Analysts predict it to reach USD 539.78 billion by 2030 (Research and Markets, Oct 6, 2021). Luxembourg was a natural choice for SIGA’s European headquarters, as it was recently voted second most inclusive economy globally and second in the world for market access and infrastructure.
The accelerating pace of cyber attacks on infrastructure poses greater public safety and economic risks to industry and the public and forces CISOs to anticipate a third-party risk. Accidents can be as catastrophic as attacks, as Chernobyl demonstrated so well. The high effectiveness of level zero detection of incipient attacks and accidents adds unique value to the cyber risk governance stack.
As for every system connected to the Internet, CISOs must adequately secure their industrial control systems. Yet industrial physical processes are often overlooked in this mission because they are tied to legacy mission-critical systems and depend heavily on low-level sensor/actuator infrastructure.
SIGA’s mission in Europe is to expand its footprint to secure the integrity of critical OT processes by delivering AI-enhanced monitoring and in-depth operational situational awareness. SIGA’s unique machine-learning-based solution is designed to monitor the most reliable level of process data within any operational environment, the physical layer, and detect anomalies that indicate cyberattacks or operational faults.
Through SIGA’s Incipient Failure Detection solution, SigaGuard, the company mission is to secure the integrity of critical OT physical processes by delivering AI-enhanced monitoring and uncovering in-depth operational perception for secure, safe, productive & continuous operation. SIGA’s technology incorporates a comprehensive process anomaly detection system that monitors critical assets using LEVEL 0 ICS electrical signals-based predictive analysis and artificial intelligence. It is an autonomous and intelligent “out-of-band” solution and cannot be hacked or manipulated.
Luxembourg, a “strategic gateway”
Amir Samilioff, CEO of SIGA OT Solutions: “SIGA selected Luxembourg as our strategic gateway to the European Union. With the support of our partners at the House of DeepTech and the Ministry, we can accelerate our R&D development, investments, and commercial scale.”
SIGA’s investors include PureTerra Ventures, a Dutch fund that specialises in water and infrastructure investments, AWZ Ventures, SIBF, Moore Strategic Ventures, and a German electrical and control systems manufacturer, Phoenix Contact.
In collaboration with its global industrial automation partners, SIGA will build on its global footprint of energy, oil and gas, water utilities, data centres, and heavy industrial and manufacturing clients.