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Nanolock: the low-cost security solution for IoT

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This year’s edition of Four Years From Now has a winner. The GSMA announced Nanolock Security, an Israeli startup focused on security, as the winner of the Barcelona Startup of the Year Award on the final day of the 4FYN event running alongside MWC19 in Barcelona. Organizers say that more than 23,000 attendees and over 760 companies, including 600 startups, participated in the event in the Fira Montjuic venue at the heart of the city, from 25-27 February 2019.

“Convening and recognizing creative innovation is the essence of the 4YFN event, and Nanolock Securities proved to be the rightful winner of the Startup of the Year Award,” said Pere Duran, 4YFN Event Director, GSMA. “On behalf of the GSMA, I would like to thank our sponsors, partners and participating companies for making this 4YFN Barcelona or biggest and best yet.”

The 4YFN Awards are a highlight of the three-day event and features a competition between five startup finalists. NanoLock Security emerged among the other as “the only provider of lightweight, virtual, low-cost security and management solution for connected edge devices.” In essence, NanoLock offers a management platform for IoT that includes important security solutions—all for a relatively low cost.

The other four finalist included Carfit, a French startup providing an AI solution that reads car vibrations to support and facilitate maintenance; Scoot Networks, which offers an application that provides shared electric vehicles on demand, including bicycles and motorcycles; Factorial, a service that manages human resource tasks for companies; and finally 3DLook, which uses deep learning and 3D scanning to transform the textile industry.

NanoLock assures that its product uses “virtually zero computing or power resources” and prevents physical and cyber security attacks on connected IoT devices. In short, Nanolock protects the firmware, boot image and critical applications. According to the company, the smaller IoT devides, which are usually low-powered, are the ones most vulnerable to malicious attacks. It goes without saying, this is bad news for everyone, and considering security might be the next big challenge for IoT, Nanolock’s offering certainly seems attractive.

The service offers a management system where the security platform automatically registers IoT devices. From there, it can protect the root of trust between the cloud and the device throughout its entire life cycle.

ECN explains: “Starting from the time of initial provisioning through every firmware over-the air-update to end of life, the technology sits in each device’s embedded memory.  When a security breach happens, or device code is maliciously manipulated, NanoLock identifies and blocks the code change and immediately alerts the system manager without alerting the attacker.”

In the eve of MWC, NanoLock also announced partnerships with Micron and Cypress for IoT device security and management from the flash memory to the cloud.