Total
0
Shares
Mobilicom (ASX:MOB) - CEO, Oren Elkayam
CEO, Oren Elkayam
Source: Techinvest Magazine
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mobilicom (MOB) has won an additional $320,000 for the next stage of a $1.8 million cybersecurity program
  • The program, first announced in 2019, is funded by the Israel Ministry of Defense and Israel Innovation Authority
  • The company plans to use the new funds for a follow-up program to integrate and validate drones and robotics platforms
  • Mobilicom says it expects the second stage of the cybersecurity platform to be ready for deployment later this year
  • Company shares are in the grey, last trading at 7.8 cents

Mobilicom (MOB) has won an additional $320,000 for the next stage of a $1.8 million cybersecurity program.

The Israel Ministry of Defense and Israel Innovation Authority first approved a Mobilicom program for the development of cybersecurity using artificial intelligence (AI) for drones and robotics platforms in 2019.

The program allowed Mobilicom to develop cyber technologies using artificial intelligence (AI) as an add-on module for drones and unmanned platforms. This included systems to stop hijacking and spoofing for commercial and industrial drones and robotics, enabling autonomous drone cybersecurity without intervention by an operator in real-time.   

The company plans to use the new funds for a follow-up program to integrate and validate onboard drones and robotics platforms.  Additionally, it will enable the company to build a recurring software licence business model.

“We are pleased to receive additional funds for this cybersecurity research and development that will place Mobilicom at the forefront of cybersecurity and AI for robotics platforms and reinforces us as a leading holistic provider of drones and robotics solutions,” said Mobilicom’s CEO Oren Elkayam.

“This solution is a game-changer for commercial drone deployment as cybersecurity is a critical challenge for the success of the commercial drone market. Mobilicom’s innovative solution will mitigate the cybersecurity risks and as a result, enable the acceleration of commercial drone market scalability. It will also generate revenue through a recurring software licence business model, further strengthening our longterm financial position and cash-flow performance.”

The CEO says Mobilicom expects the second stage of the cybersecurity platform to be ready for deployment later this year.  

Mobilicom shares are in the grey, last trading at 7.8 cents at 12:05 pm AEDT.

MOB by the numbers
More From The Market Herald
Bill Identity (ASX:BID) - Incoming CEO, Michele Garra (left)

" Bill Identity (ASX:BID) appoints Michele Garra as new CEO

Bill Identity (BID) has appointed a Telstra and Optus senior executive as its new Chief Executive Officer.
Peppermint Innovation (ASX:PIL) - CEO and Managing Director, Chris Kain

" Peppermint Innovation (ASX:PIL) signs with payment gateway Dragonpay

Peppermint Innovation (PIL) has signed an agreement with one of the Philippines’ largest and most reliable online payment gateway platforms, Dragonpay.
Tesserent (ASX:TNT) - Non Executive Chairman, Geoff Lord

" Tesserent (ASX:TNT) posts ‘strong’ start to FY22

Tesserent (TNT) is reporting a ‘strong’ start to the 2022 financial year, despite a slip in turnover in the September quarter.
Security Matters (ASX:SMX) - CEO, Haggai Alon

" Security Matters (ASX:SMX) increases customer receipts in Q3

Security Matters (SMX) has delivered a recap of its quarterly activities during the three months ending September 30 2021.