Israeli Ministry of Defense & Israel Innovation Authority grant additional funding of Mobilicom’s cybersecurity program

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  • Mobilicom’s $1.8 million cybersecurity program for drones and robotics platforms receives an additional $320,000 for the next stage of development
  • Program is funded by Israel Ministry of Defense and Israel Innovation Authority and was first announced by Mobilicom in 2019
  • Mobilicom’s cybersecurity platform will enable the building of a recurring software licence business model
  • Mobilicom expects the next stage of development to be ready for commercial use in 2021
    11 March 2021 – Mobilicom Limited (Mobilicom or the Company, ASX: MOB) is pleased to announce it has won an additional $320,000 (with additional net grant exceeding $210,000) for the next stage of a $1.8 million cybersecurity program first announced in 2019, resulting in total funding of $2.12 million
    In 2019, the Israel Ministry of Defense and Israel Innovation Authority approved a Mobilicom program for the development of cybersecurity using artificial intelligence (AI) for drones and robotics platforms. This program allowed Mobilicom to develop cyber technologies using AI as an add-on module for drones and unmanned platforms, including an anti-hijacking and anti-spoofing system for commercial and industrial drones and robotics that enables autonomous drone cybersecurity without intervention by an operator in real-time.
    This Mobilicom research and development program has now received an additional budget of $320,000 and the Company plans to use the funds for a follow-up program to integrate and validate onboard drones and robotics platforms.
    Mobilicom’s CEO Oren Elkayam commented: “We are pleased to receive additional funds for this cybersecurity research and development which 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.
    “This solution is a game-changer for commercial drone deployment as cybersecurity is critical challenge for the success of the commercial drone market. Mobilicom’s innovative solution will mitigate the cyber security 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.”
    Mr Elkayam said Mobilicom expected the second stage of the cybersecurity platform to be ready for deployment in year 2021.