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AKITA: a new funding round after successful KickStarter campaign

Akita is an Instant plug-in privacy for the connected home



Overview

AKITA: a new funding round after successful KickStarter campaign

Akita is an Instant plug-in privacy for the connected home, aiming to provide a comprehensive security solution for the smart homes and SMBs. It quickly tackles any hacking attempt and notifies the owner instantly. Akita raised over $884K by 8,456 backers on KickStarter campaign!

The Akita app is available for both iOS and Android

Akita box

Product

  • Akita identified a lack of security service solutions and created a platform that enables service providers to offer cyber security service aiming smart homes and SMB.
  • The Akita device was developed by HighIoT, a market-leading software company, specializing in the field of home security since 2016. Akita uses military-grade security protection that’s been retrofitted for homes: automatically detects network devices, analyzes network traffic, detects intrusion in real-time and neutralizes problematic devices. It's development team experts have vast experience in software development for industry start-ups and the Israeli Defense Force's (IDF) cyber intelligence unit.
  • Current version is a cloud-based service that can be managed directly from the web, with machine learning algorithms and a central database that collects statistics from AKITA devices. After ICO Akita will protect home/office IoT devices via blockchain smart contracts. Blockchain solution will give users control of their own privacy. Due to blockchain anonymity, governments, manufacturers and service providers will not gain unauthorized access to user data.
  • The Akita algorithm runs on the server side and filter massive amounts of data to explore malicious traffic and device malfunctions. While most of the solutions offer a standalone home and smart home protection, Akita uniqueness is in being a service platform solution.
  • The Akita Management System is user-friendly and offers enhanced security features with unique reporting and visualization features.
  • The most appropriate channel for providing this service is service providers because they are experienced in similar services and know how to market them. Service providers are looking for new service that will enable them to generate a new source of revenue. HighIOT cybersecurity solution offers service providers a way to utilize their existing assets, putting Akita’s software on the existing routers, combined with Akita’s AI cloud that supply the Service Provider all the information it needs in order to monitor all the activities and, when needed,  to disconnect infected IOT.
  • Black, White, and Navy colors are being offered for the first line of units.
blockchain

Market

  • The Smart Homes market has rapidly evolved and is expected to grow from $46.97B in 2015 to $121.73B by 2022.
  • According to Gartner, the number of connected "Things" reached 4B in 2017, up 31% from 2016, and will reach 20.4B by 2020. Furthermore, an IEEE Spectrum report predicts that the world will have 50B connected devices by 2020. Total spending on endpoints and services is estimated at $2 trillion in 2017.
  • 75% of connected-home devices purchased through service providers, due to strong go-to-market access.
  • Blockchain technology was not used yet for IoT security.
  • According to Gartner, the “consumer segment is the largest with 5.2B units in 2017, which represents 63% of the overall number of applications in use. Businesses are on pace to employ 3.1B connected things in 2017. Aside from automotive systems, the applications that will be most in use by consumers will be smart TVs and digital set-top boxes, while smart electric meters and commercial security cameras will be most in use by businesses.
  • IoT devices are an attractive target for botnets for three reasons: 1) Security is often not a priority for the device manufacturer. This leads to poor practices such as the use of default passwords and open ports, which the users do not, or cannot, change.
  • (2) They typically don’t have built-in mechanisms to receive automatic firmware updates, resulting in vulnerabilities being left unpatched. (3) They are often forgotten about once installed. This means that their owners are unaware when devices are being used for malicious purposes and have little incentive to apply firmware updates.
  • Worldwide spending on IOT security will reach $348M in 2016, a 23.7% increase from 2015 spending of $281.5M and expected to reach $547M in 2018.
  • While the market offers few “do it yourself” solutions, some not even connected to a cloud while others come with a price tag of 200-500 usd and yearly fees of 80-180 usd, way more than what end user is willing to spend.

Team

Eran Yarom

Eran Yarom

Co-founder
  • 20+ years of experience as a founder, CTO, and CEO of a variety of companies, developing cyber and physical video security solutions for telco's and service providers.
Igor Rabinovich

Igor Rabinovich

Co-founder
  • 18 years of experience in software development and R&D management. 
  • Served in the IDF technological intelligence unit. 
  • Has vast experience in large-scale systems for operators and a strong background in C4I systems development.
Igor Ryabenkiy

Igor Ryabenkiy

Chairman
  • A serial entrepreneur and angel investor with 20+ years of successful executive and investment experience including Internet startups and IT companies. 
  • He has funded, developed, and exited a significant number of investment projects worldwide.
Prof. Simon Litsyn

Prof. Simon Litsyn

Advisor
  • Serial entrepreneur, researcher. His research interests include coding and information theory.
  • Department chair of Electrical Engineering Systems at Tel Aviv University. 
  • Received his Ph.D. from the Leningrad Electro-Technical Institute.


Raz Alon

Raz Alon

Co-founder, Advisor
  • Serial entrepreneur, an expert in cybersecurity and an angel investor with 20+ years of industry experience focused on IT and Cyber Security. 
  • Founder and co-CEO at CyberInt.
Viktor Ivanov

Viktor Ivanov

VP R&D
  • 10+ years of experience as a full-stack developer.
Ken Baylor

Ken Baylor

Advisor
  • Dr. Ken Baylor is recognized as a leader in data protection, privacy, information security and regulatory compliance. His recent speaking engagements include RSA, Blackhat, ISACA-CACS and FS-ISAC. 
  • Ken is a founding team member at ValhallaCoin, President of Vendor Security Alliance, Regional VP at Attivo Networks, Inc., Chief Information Security Officer at Wontok, former Head of Compliance at Uber. 
  • Dr. Baylor is a certified information systems security professional (CISSP) and a certified information systems manager (CISM). He is a certified data protection officer (IAPP CIPP-E and CIPM).
Amir Kusmirski

Amir Kusmirski

EVP Business Development
  • 20+ years of Business Development experience in various telecom, software and financial companies. 
  • Graduate of the Harvard Law School Program on Negotiation.

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