The Internet of Things is no longer just a smart home that heats your sauna right before you come home. It is more than a wearable ring that tracks your health or the sleep tracker that you put under your mattress to understand your recovery better. IoT is the network that tracks and exchanges information between devices, places, and people. Many of IoT devices are still severely lacking in security. 8.4 billion connected things will be in use in 201, and over 96% of security professionals responding to a new survey expect an increase in security attacks in IoT.
Since everything around us is becoming a computer, it has the same vulnerabilities as computers do. For example, several of the largest denial-of-service attacks ever have been executed from poorly-secured IoT devices.
Finnish company Connax came up with a solution for IoT security. The secret is in the SIM card. The Subscriber Identity Module is essentially a smart microprocessor chip with a very secure architecture. The company created unique SIM software giving birth to a new generation of network agnostic IoT security elements. Connax claims that their technology is the cheapest and most flexible off-the-shelf solution for securing any IoT device. To develop it further they were able to raise 85K € from pre-seed investors, with the major investment received from Icebreaker VC and 50K€ from Tekes as Tempo grant.
The company has a big goal ahead – product demo on Slush 2017 and first deployments in the biggest cities of Republic of Karelia as a security part of smart city infrastructure.
“We are getting more and more deployment proposals – there’s a market of 14,2 billion devices ahead!” -proudly comments Ilya Sokolov, CEO of Connax.