Kindite's technology allows sensitive enterprise data to be transferred to the cloud without it being visible to the service provider.
Israeli startup company Kindite has raised $4 million in a seed round led by RDC (owned by Rafael Advanced Defense Systems Ltd. and Elron Electronic Industries Ltd. (TASE: ELRN), with the participation of investment fund CE Ventures, which is supported by CreditEase, a leading financial services provider in Asia. The round will enable Kindite to progress with what it claims is a breakthrough product for encrypting sensitive enterprise information in the cloud age. The technology that forms the basis of Kindite's solution facilitates the analysis and processing of encrypted information without the content being seen, and in fact with no decryption at all. Kindite says that the solution paves the way to the transfer of sensitive enterprise data to a cloud environment without it being visible to the service provider and without detracting from the advanced capabilities available on the cloud.
"The fund raising round will enable us to expand our development team substantially and to advance towards fulfillment of the vision we have set for ourselves - to offer genuine confidentiality in a practical way for the cloud age," says Kindite CEO Maor Cohen. "This is groundbreaking technology that overcomes barriers that past solutions have encountered. The possibility of offering our customers a solution that ensures confidentiality and is at the same time available for immediate use is the great attraction of our technology. Our solution represents good news for the world of the cloud, allowing enterprises hermetic protection, and control over the data stored on the cloud."
Kindite was founded in 2017 by Cohen and CTO Aviad Lahav, a graduate of the IDF's 8200 signals intelligence unit. The company's offices are in Tel Aviv, and it employs ten people.
Published by Globes, Israel business news - en.globes.co.il - on October 16, 2018
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