Xage, a technology startup that provides solutions enabling infrastructure such as gas and oil pipelines, electrical grids and water supplies to operate securely, said it raised $30 million in a Series B funding round, which brings its total funds raised to $54 million, according to TechCrunch
Xage CEO Duncan Greatwood says the company’s solution helps bridge the gap between modern security solutions and older and less secure industrial infrastructure facilities.
“The fabric is a mesh of software nodes that overlays the operation to provide granular control of every digital interaction. It provides zero trust protection that spans operations, IT and the cloud, underpinning both cybersecurity and digital transformation,” Greatwood said.
Xage’s solution leverages digital ledger technology that is arranged in nodes on a blockchain, which allows the impact of a potential attack to be minimized and prevents attackers from gaining control of the whole network by taking over one or two nodes.
“The distributed ledger is still an important part of our software stack. It’s part of how we achieve this no single point of failure in the Xage fabric, which is so important for protecting these exposed operational situations,” added Greatwood.