South Korean maritime cyber security specialist CYTUR has raised US$3.4 million to expand from commercial shipping into naval and overseas shipbuilding markets. The investment comes as shipowners prepare for stricter cyber security requirements that are reshaping how vessels are designed, built and managed.
South Korean maritime cyber security company CYTUR has closed a US$3.4 million Series A funding round, with plans to expand its ship cyber security business into naval programmes and international shipbuilding markets.
The company said the investment follows growing demand for cyber security throughout a vessel’s lifecycle as international regulations tighten and connected ships become more common. Its technology covers cyber risk analysis, threat modelling, asset identification, security verification and compliance documentation from vessel design through to operation.
The funding round attracted backing from Sunbo Angel Partners, STIC Ventures and Jones & Rocket. According to CYTUR, investors were attracted by early commercial success and the growing role of cyber security as a mandatory requirement for shipowners, shipbuilders and operators.
Cyber security is now entering the design phase of newbuild projects rather than being added after delivery. Threat modelling, security verification and supply chain assessments are taking a larger role as owners prepare for compliance with standards such as IACS UR E26 and E27.
CYTUR said it has already secured contracts covering several dozen commercial vessels through its partnership with Rakuten Maritime, providing cyber threat modelling and ship lifecycle security services. The company now intends to apply the same technologies to naval maintenance, repair and overhaul programmes, where interconnected onboard systems require rigorous security verification.
The company has also strengthened its credentials through government recognition. Its ship cyber threat modelling technology has received certification from South Korean authorities, while CYTUR has been selected for a national programme supporting cyber security companies with global expansion and commercialisation.
“This Series A round, together with our government product certification, selection for the cybersecurity scale-up program, and commercial-fleet wins, shows that CYTUR has moved beyond technology validation into full-scale market expansion,” said Jo Yong-hyun, CEO of CYTUR. “Going forward, we will pursue opportunities across commercial ship cybersecurity, naval MRO, defense cybersecurity, and shipbuilding and maritime markets in the United States, Singapore, and Europe to grow into Asia’s representative maritime cybersecurity company.”
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