qomodo secures $1.6 million in funding to fortify IoT cybersecurity

qomodo secures $1.6 million in funding to fortify IoT cybersecurity

qomodo, an IoT cybersecurity company, has successfully raised $1.6 million in pre-seed funding.

This round was spearheaded by Expeditions Fund and saw contributions from Amadeus Capital Partners, Auriga Cyber Ventures, Nio Advisors, McNally Capital, Ventures Together, and returning investor, Techstars. The funding aims to bolster qomodo's mission to fortify IoT security against escalating cyber threats.

Founded by former BAE Systems and NATO cybersecurity...

Oil and gas industry sees rapid growth in IoT devices

The oil and gas industry is experiencing a surge in the adoption of IoT devices, according to a new report from Berg Insight.

Berg Insight’s report forecasts that the installed base of wireless devices featuring cellular, satellite, or low-power wide-area (LPWA) connectivity in the industry will grow at a compound annual growth rate (CAGR) of 19.3 percent, increasing from 7.8 million units at the end of 2023 to 18.8 million connected devices by 2028.

The primary...

Retail faces continued threat from IoT botnets

A new report from Netskope Threat Labs sheds light on the major cloud threats targeting the retail industry over the past year. The key malware families deployed by attackers were IoT botnets like Mirai, remote access tools, and infostealers aimed at stealing customer payment data and credentials.

Paolo Passeri, Cyber Intelligence Principal at Netskope, said: “It’s surprising that the retail sector still finds itself specifically targeted with botnets like Mirai as attackers...

Cellular IoT module shipments saw their first decline in 2023

Global shipments of cellular IoT modules experienced their first-ever annual decline in 2023, falling two percent year-over-year.

Counterpoint Research’s latest report cites inventory adjustments following supply chain disruptions and reduced demand in key verticals like industrial and enterprise as driving factors behind the decline.

One bright spot was the rapid growth of 4G Cat 1 bis modules, which captured over 22 percent of shipments in 2023. In China, this...

IFOW: Automation impacts workers’ quality of life

A recent study conducted by the Institute for the Future of Work (IFOW) sheds light on the profound impact of automation technologies on the quality of life of workers.

The study, conducted as part of the Pissarides Review, delved into the effects of exposure to new workplace technologies on the wellbeing of nearly 5,000 UK workers. For the first time, the research utilised the EuroQol EQ-5D-3L, a widely-accepted measure of health-related quality of life and...

Juniper Research: Global cellular IoT devices to double by 2028

A recent study conducted by Juniper Research projects a surge in the number of cellular IoT devices worldwide.

According to Juniper’s findings, the current count of 3.4 billion such devices is set to skyrocket to 6.5 billion by 2028, marking a 90 percent growth in connections over the four-year period.

However, the study also highlights a critical challenge accompanying this exponential growth. It suggests that meeting the escalating demand for IoT connectivity will...

IoT security remains a top concern for enterprises in 2024

As the use of IoT devices continues to accelerate, a new report from Asimily highlights the growing cybersecurity risks facing enterprises that fail to properly secure their connected devices. 

The report, titled ‘IoT Device Security in 2024: The High Cost of Doing Nothing,’ analyses emerging attack trends targeting IoT infrastructure and outlines potential consequences for companies neglecting sufficient resilience measures.

With hospitals, manufacturers,...

5G RedCap set to dominate cellular IoT growth

Cellular IoT is set for robust growth over the next decade, with 5G RedCap (Reduced Capability) becoming the dominant connectivity technology for low-power wide-area networks (LPWANs).

According to ReTHINK Research, the 5G RedCap standard and extended variants (RedCap and eRedCap) will account for almost one third (30.17%) of all cellular IoT connections by 2030. The growth will come largely at the expense of retiring 2G networks and slowly declining 4G IoT...

Storyblok: ‘App absence’ to hamper Vision Pro’s appeal

The launch of Apple's Vision Pro mixed reality headset could be hampered by the lack of apps from major platforms.

CMS specialist Storyblok has released a survey of 500 consumers revealing that 81 percent are worried about the absence of key apps impacting the device's promised "transformative content experiences." Over half said they were "very concerned."

Netflix is the latest provider to confirm that it won’t be launching a Vision Pro app alongside Google not...

Fleet management systems in Australia and New Zealand to exceed 2.4M by 2027

IoT analyst firm Berg Insight predicts substantial growth in active fleet management systems deployed across commercial vehicle fleets in Australia and New Zealand.

As of Q4 2022, the number of active fleet management systems in the countries stands at approximately 1.4 million units. Berg Insight forecasts this figure to reach over 2.4 million units by 2027—driven by a robust compound annual growth rate (CAGR) of 11.5 percent.

The fleet management market in the region...