IAR invests in security and IoT start-ups
February 19, 2019
Swedish company IAR Systems is dedicating an investment fund and efforts to help grow start-up companies within the IoT and security sectors. Through the Ymir business incubator, the group will support companies who have innovative ideas and high-growth potential.
Security is becoming a crucial success factor for many companies providing electronic products and, as a result, there are a large number of start-up companies entering the field with innovative ideas for simplified and strengthened security implementation.
According to Machina Research, there will be 27 billion IoT connections in 2025. This rapidly growing market is facing major security challenges, enabling attacks such as IP theft, counterfeiting and overproduction, as well as data theft and potentially life threatening sabotage.
Despite these threats, secure products today constitute only four per cent of the total number of IoT products available on the market, according to ABI Research. The total market for secure microcontrollers for IoT can reach $1.2bn in value in 2022. The same year, secure IoT products are predicted to represent almost a fifth of new IoT units.
In 2018, the IoT security provider Secure Thingz became part of IAR Systems. Founded and headed by security experts, the company strengthens the group with expertise within the fields of device security, embedded systems and lifecycle management.
“By investing in new technology, we will gain greater insights into new technologies and a strong position for extending our security value,” said Stefan Skarin, CEO of IAR Systems. “Within Ymir, we will go for an initial limited ownership with open possibilities to grow, divest and acquire these start-up companies.”
Through Ymir, IAR Systems will take an active ownership role with board representation in the selected start-up investees. The group is currently evaluating the first set of candidates.
“We are taking a leading role in IoT security and this is the next step on that journey,” says Haydn Povey, CEO of Secure Thingz. “By investing in technology start-ups, we will be able to provide innovations on top of our existing security offering and gain a powerful engineering foothold to defend our position as frontrunners in this expanding industry.”
IAR Systems and Secure Thingz have announced that the security environment Embedded Trust is available for implementation in designs through the embedded development toolchain IAR Embedded Workbench. The integration enables designers to include security development as part of their day-to-day development workflow.