GE Invests in Startup Xage Security
Xage Security is a U.S.-based startup leveraging blockchain technology to secure industrial control systems. The firm came out of stealth mode in December 2017, and this week it received US$12 million in Series A funding from four investors: March Capital Partners, GE Ventures, NexStar Partners, and City Light Capital. GE’s investment is of particular interest as it intersects with the research themes of its Edge Lab, part of GE Global Research, which focuses on Artificial Intelligence (AI); machine learning; robotics; software; and analytics, including blockchain. Xage Security is already a customer of GE Renewable Energy, which is exploring ways to connect producers and consumers of solar and wind power in a secure manner.
The startup’s expertise lays in creating a security fabric through a network of gateways and clients at the Operational Technology (OT) edge that can offer tamper-proofing, authentication, identity, role-based access control, and device lifecycle management to industrial operators. This fabric is connected back through …
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