SandGrain B.V. Company Profile

Background

Founded in 2019 and headquartered in Eindhoven, Netherlands, SandGrain B.V. specializes in providing robust authentication solutions for connected systems. The company's mission is to enhance cybersecurity by ensuring the trustworthiness of device identities within the expanding Internet of Things (IoT) ecosystem. By integrating unique, hard-coded integrated circuits (ICs) with a centralized cloud platform, SandGrain aims to offer scalable and secure authentication services across various industries.

Key Strategic Focus

SandGrain's strategic focus centers on delivering a universal authentication platform applicable to any connected device. The company targets sectors where secure device authentication is critical, including industrial manufacturing, utility infrastructure, and IoT products. By addressing vulnerabilities in device identity verification, SandGrain seeks to prevent unauthorized access, reduce maintenance costs, and promote circular economy practices through lifecycle traceability.

Financials and Funding

In April 2023, SandGrain secured a €1.3 million seed investment from venture capital fund DeeptechXL. This funding is intended to accelerate product development and facilitate pilot programs with interested companies and government bodies. The investment underscores confidence in SandGrain's approach to enhancing security in industrial IoT applications and its potential role in advancing circular economy concepts.

Pipeline Development

SandGrain is actively developing its authentication platform, which combines unique hardware tokens with a secure cloud service. The company plans to have its solution ready for functional market introduction by the end of the year, enabling expanded partnerships and in-depth application analyses. This development aims to address gaps in current authentication and cybersecurity markets while promoting greater circularity.

Technological Platform and Innovation

SandGrain's innovative approach integrates two primary components:

Physically Unique ID: A small, immutable IC attached to IoT devices, featuring hard-coded unique codes using patented SandGrain technology. This token communicates with the cloud platform to authenticate device identities.

CyberRock: A secure, infinitely scalable cloud platform that generates, assigns, and issues unique identities for hardware tokens. It validates authentication requests from field-deployed tokens, ensuring state-of-the-art cybersecurity.

This combination offers a robust solution for device authentication, applicable universally across connected devices.

Leadership Team

SandGrain's leadership comprises industry veterans with extensive experience in SaaS, cloud services, cybersecurity, and chip manufacturing:

René Claessen: Chief Executive Officer

Joeri Voets: Chief Commercial Officer

Pieter Hooijmans: Founder & Chief Technology Officer

Casper Juffermans: Founder & Process Technology

Jeroen Doumen: Founder & Security Architect

Jack Gijrath: Vice President of Business Development & Strategy

This team combines solid technical knowledge with extensive experience in the semiconductor industry, positioning SandGrain to effectively address cybersecurity challenges in the IoT landscape.

Competitor Profile

Market Insights and Dynamics

The IoT security market is experiencing significant growth, driven by the increasing adoption of connected devices across various industries. Ensuring device identity and authentication is paramount to prevent unauthorized access and cyber threats. SandGrain's focus on providing a scalable and secure authentication platform positions it to address these critical market needs.

Competitor Analysis

Key competitors in the IoT security space include:

Forescout Technologies: Offers agentless visibility and control of network-attached systems, enhancing network security.

Fortinet (FortiNAC): Provides network access control solutions to improve visibility and control over devices accessing networks.

Palo Alto Networks (Cortex Xpanse): Continuously discovers and monitors assets across the internet to identify and mitigate security risks.

These companies focus on network security and device visibility, whereas SandGrain's unique approach integrates hardware tokens with a cloud platform for device authentication, offering a distinct solution in the market.

Strategic Collaborations and Partnerships

SandGrain collaborates with various partners to enhance its market position and innovation capacity. Notably, the company received a subsidy under the NWO's take-off program to study the integration of its authentication platform in battery systems, aiming to create battery passports for lifecycle traceability. This project, conducted in partnership with TNO Automotive, underscores SandGrain's commitment to sustainability and secure authentication solutions.

Operational Insights

SandGrain's strategic considerations include:

Market Position: Focusing on sectors where secure device authentication is critical, such as industrial manufacturing and utility infrastructure.

Competitive Advantages: Offering a unique combination of hardware and cloud-based authentication, providing a scalable and secure solution distinct from competitors.

Differentiators: Emphasizing lifecycle traceability and circular economy practices, aligning with emerging regulatory requirements and sustainability goals.