Israeli cybersecurity startup NanoLock Security signed a partnership with Genus Power Infrastructures, an India-based company that installs more than 100,000 smart meters a month worldwide and operates over one million connected edge metering devices.
NanoLock Security developed a solution that protects smart metering infrastructure from cyberattacks, theft and fraud. The solution also provides a managed security service for utilities and smart-city customers that reduces operational costs, especially in remote rural areas.
The startup already is working with service providers and utilities in Israel, Italy, Japan, The Netherlands, Spain, Singapore, Switzerland and United States. NanoLock is headquartered in Israel with offices in the US, Europe and Japan.
“The cooperation with NanoLock makes perfect sense for us. The new managed security service that we’ve jointly developed allows us to offer unprecedented security, operational cost savings, and eliminates potential fraud against our utilities and smart city customers,” said Chandra Prakash, vice president of sales, Genus Power.
“Because NanoLock can remarkably protect and manage new and legacy smart meters we see the potential for this service to be deployed in tens of millions of our devices.” Implementation is expected to begin in the first quarter of 2021.
NanoLock CEO Eran Fine added, “The smart meter market is booming, but so too are the potential cyberthreats. Utilities and smart-city solutions providers are confronting new attacks all the time and any connected device could be the entry point for attackers. This collaboration with Genus Power brings a novel and viable protection to critical infrastructure providers for smart meters and other connected devices at the edge, reducing operational cost, especially for remote and rural areas.”