Israeli industrial and critical infrastructure cybersecurity company Radiflow has announced that it took in an $18 million investment, led by the Singapore-based multibillion dollar engineering giant ST Engineering.
Boasting of doubling sales of its threat detection tools in the last year, Radiflow has over 50 worldwide customers. The company collaborates with partners, including U.S. cybersecurity firms Palo Alto Networks and RSA.
ST Engineering will also enter into a partnership with Radiflow that will include access to the Israeli firm’s defensive tools.
Radiflow’s customers include critical infrastructure operators in power generation, electricity supply and water facilities. Earlier this year, the company released a case study on a cryptocurrency miner attack against a water facility.
Industrial cybersecurity companies are attracting vast sums of investment at the moment. One month ago, the Israeli-American firm Claroty took in a $60 million investment. Industrial cybersecurity companies like Dragos and Nozomi Networks have also taken in multimillion dollar sums in recent months, spotlighting an industry appetite to spend on protection.