Cyber attacks are on the rise. In the first quarter of 2024, organizations experienced an average of approximately 1,300 attacks per week. The cost of attacks is also increasing. According to Statista, cybercrime-related losses could soar to more than $13 billion by 2028.
Software is one way to combat these attacks. Hardware is different. Startup Axiado is a proponent of both, building a business out of designing “security” chips and apps that leverage them.
Founded in 2017, Axiado makes chips to protect devices from data centers to 5G base stations. “Our solution gives enterprises the power to fully secure their digital infrastructure end-to-end,” CEO Gopi Sirineni told TechCrunch.
For some machines, Sirineni explains, the boot sequence (initial startup process) is vulnerable to attack. Because the machine does not check if the sequence has been tampered with. Indeed, more secure boot chips and software-based technologies have emerged in recent years, but Sirineni says they are far from being universally adopted.
Axiado's chips aim to protect against boot-level attacks by authenticating boot-level updates before they are executed and periodically checking the integrity of the boot sequence. Sirineni claims this will prevent boot-level attacks on systems with Axiado's chips installed.
The chip also handles runtime security, or post-boot security for software, apps, and workloads. In this respect, it's comparable to chips like Microsoft's Pluton, Google's Titan, and Apple's T2.
One of Axiado's chip designs. Image credit:Axiado
Sirineni said Axiado's chips use root-of-trust technology that cryptographically protects against hardware tampering. Additionally, the chip powers Axiado's cybersecurity monitoring platform, which attempts to detect potentially malicious activity within data patterns.
“Without revealing too many details, we use an AI engine to learn the behavior of our platform and compare it to blacklisted patterns provided by our customers,” Sirineni told TechCrunch. . “While it will not completely replace software-based ransomware attack solutions, it will complement your entryway protection and act as your last line of defense.”
It's important to note that while custom silicon can improve security, it's not a panacea.
In 2020, researchers discovered an “unfixable” flaw in Apple's T2. This flaw could potentially expose your device to the very threats that T2 is designed to prevent. Supply chain issues can also lead to secure boot failures, such as when vendors don't follow best practices.
Axiado insists its chip hasn't been defeated yet. However, that may simply be a result of the relatively small installed base.
Recently, to take advantage of significant investments in AI data center infrastructure, Axiado launched a system that dynamically adjusts data center cooling to reduce costs. (Cooling is often a key item in data center operations and an environmental headache.) Using the company's chips, Axiado's system is similar to systems from startups such as Phaedra. automatically measure and adjust cooling based on workload.
Clearly, Asiad is interested in many pies. And it seems to be working, especially as open security chip projects like Google's OpenTitan follow suit. Axiado partners with manufacturing company Jabil to develop server cybersecurity solutions and recently raised $60 million in a Series C funding round.
Maverick Silicon led the round, with participation from Samsung Catalyst Fund, Atreides Management, and Crosslink Capital.
Sirineni said the new funding, which brings Silicon Valley-based Axiad's total funding to $140 million, will support its go-to-market efforts and support for about 100 employees across offices in San Jose, India and Taiwan. The money will be used for expansion.
“We have been sampling the product for a year now,” Sirineni said. “This funding will be used to mass-produce the product and begin generating revenue in 2025.”