Participated · Equity · Mar 2021

SCADAfence Ltd. is an Israeli-based startup that provides an OT & IoT cybersecurity platform called the “SCADAfence Platform” and a dedicated GRC product, the “Governance Portal.” The SCADAfence Platform automatically recognizes and visualizes devices connected to industrial networks and can reveal network vulnerabilities and threats. It detects malware intrusions, unauthorized operations, and shadow IoT threats from devices connected without formal authorization. Mitsubishi Electric’s ME Innovation Fund has invested in SCADAfence, and Mitsubishi Electric will work with the company to accelerate strengthening its OT security platform for the manufacturing industry. The partners aim to develop a safe, secure product line that complies with international standards such as IEC 62443 and other regulations. CEO Elad Ben Meir said the company will leverage its OT & IoT cybersecurity experience and extensive knowledge of stable industrial system operations to deliver solutions to customers. SCADAfence provides a full suite of industrial cybersecurity products that deliver proactive security and visibility across large‑scale OT and IoT networks. Its platform covers network monitoring, asset discovery, governance, remote access, and IoT device security, servicing complex environments including the largest manufacturing facility in Europe. The company serves customers across multiple industries—manufacturing, water treatment, oil & gas, pharmaceuticals, chemicals, and building management systems—and counts Honda, Murata, Vestel, Mitsui Fudosan, and Taro Pharmaceuticals among its clients. Leadership includes CEO Elad Ben‑Meir and newly appointed CRO Gordon Boyce. SCADAfence operates across multiple global offices (New York City, Munich, Ramat Gan, and Tokyo) and focuses on expanding worldwide operations. It plans to use recent funding to broaden industry reach and strengthen its OT & IoT cybersecurity solution set. SCADAfence develops cybersecurity tools that provide real-time detection and monitoring for SCADA (supervisory control and data acquisition) industrial networks. Its solutions target sectors such as manufacturing, pharmaceuticals, and automotive, where networks were not originally designed with security in mind. The company emphasizes passive, continuous monitoring to avoid adding operational risk, a point highlighted by CTO Ofer Shaked. Rising connectivity from industrial-scale IoT and Industry 4.0 increases exposure to threats like process disruption, ransomware, and IP theft; the article cites Maersk's reported $300 million loss from cyber-attacks as an example of potential impact. SCADAfence raised $10 million in a Series A and will use the funds to grow its Tel Aviv R&D center and expand business operations in Europe, North America, and Asia. The company presents its offering as a way for industrial firms to improve security posture without introducing additional operational risk.