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- Mobilicom (MOB) secures its first sale of cybersecurity software to the Israel Ministry of Defense (IMOD), valued at $270,000
- Mobilicom’s Immunity Cybersecurity and Encryption (ICE) software will be embedded within IMOD’s networking smart solutions to provide autonomous protection against cyber breaches and malicious attacks
- If the in-field validation is successful, all future IMOD purchases of Mobilicom’s networking and datalink smart hardware solutions will include cybersecurity software
- The company expects a significant portion of contract revenue will be realised in the fourth quarter of 2021
- Mobilicom’s shares have ended the day trading flat at 6 cents
Mobilicom (MOB) has secured the first sale of its cybersecurity software, valued at $270,000.
The company made the sale of its artificial intelligence (AI)-based cybersecurity software to the Israel Ministry of Defense (IMOD).
Mobilicom’s Immunity Cybersecurity and Encryption (ICE) software will be embedded within IMOD’s networking smart solutions and used in tactical drones and robotics platforms to provide autonomous protection against multiple cyber breaches and malicious attacks.
Mobilicom said its software is a “world-first”, allowing users to detect, prevent, and respond to multiple drone or robotic cyber-attacks in real-time, without requiring intervention by an operator.
As part of the contract, IMOD will conduct extensive infield implementation of Mobilicom’s cybersecurity software under a range of conditions, with implementation expected to take several months.
Should in-field validation be successful, all future IMOD purchases of Mobilicom’s networking and datalink smart hardware solutions will also include cybersecurity software.
Mobilicom CEO Oren Elkayam said its first cybersecurity sale provides technical and commercial validation, enabling the company to certify the capabilities of its software.
“To have our cyber software implemented across its range of tactical drones and robotics platforms provides an important market validation as to the quality and innovation of our technology, and our industry leadership in this domain,” Mr Elkayam said.
“The contract with IMOD also demonstrates the success of our end-to-end strategy and upsell approach, where we have increased their revenue contribution over time by adding additional components such as cybersecurity and software to already sold networking/datalink and controller hardware.”
The company said a significant portion of contract revenue is expected to be realised in the fourth quarter of 2021.
Mobilicom ended the day trading at 6 cents.
