Galvanick, an industrial cybersecurity startup, raised a $10M seed round to expand its team and continue developing its debut product.
The seed investors include MaC Venture Capital, Founders Fund, Village Global, Countdown Capital, Hanover Technology Investment Management, Shrug Capital, and 8090 Industries.
Protect the machines: Galvanick was founded in 2021 and is led by Josh Steinman, a former senior director for cyber at the National Security Council. The company focuses on the industrial operations market, protecting machinery that connect to cyber networks.
The startup’s first product is an extended detection & response (XDR) platform that:
- Collects industrial data from hardware
- Monitors industrial environments for threats
- Contextualizes the threats to IT teams
As industrial hardware increasingly integrates with IoT networks, the market to protect the new security risks has swelled to $20B a year, according to SecurityWeek.
Hacking space: One of Galvanick’s focus areas is space, where cyber threats are particularly acute due to national security interests. In 2020, the White House issued a memo–which Steinman helped write–stressing the importance of protecting space hardware from cybersecurity threats such as spoofing, jamming, and unauthorized guidance.
The memo states: “It is necessary for developers, manufacturers, owners, and operators of space systems to design, build, operate, and manage them so that they are resilient to cyber incidents and radio-frequency spectrum interference.”