Cybord raises a $4M Seed investment led by IL Ventures to disrupt the electronics manufacturing industry

HERZLIYA,Israel,March 9,2022 --Cybord,an innovativesoftware solution that implements AI &Big Datatechnology,announced today that it raised a $4MSeed investment led byIL Ventures,a VC fund focused on transformational technologies for legacy industries,with co-investmentby theIsrael Innovation Authority.

Electronic componentsare the base for all electronic circuit boards.Their authenticity,quality,and reliability are at the core of electronic performance.Thesophisticatedelectronicsindustry (unlike mechanical industries) inspects an insignificant amount of suspected components without traceability,resulting in product failures,high return rates,and large-scale recalls,costing billions of dollarsto the OEMs.

Cybord disrupts the industry by setting a new standard. The company delivers advanced AI and Big-Data software that inspects,qualifies,and tracks every component and every electronic board. With Cybord,100% of components are checked and provide surgicaltraceability,thus eliminating any possible use of counterfeit,damaged,or tampered components.

"Today,in the midst of the globalsupply chain crisis,electronic manufacturers across multiple industry verticals struggle to meet ever-growing customer demand while keeping quality a top priority. The need to acquire components in the free market and not only from well-established suppliers increases manufacturers'exposureand vulnerability tosignificant quality issues. These issues canhave direct,sudden,andcostlyeffects ontheirability to produce quality products," said Zeev Efrat,CEO at Cybord.

"Cybord'sproventechnology allows leading industry players to implementthe Zero-Trust approach. As the global shortage in electronic components becomes chronic,this becomes a competitive edge which helps our customers generate more revenues,lower their costs,and increase theirprofitability,"addedDr. Eyal Weiss,Cybord'sfounder,and CTO.

"Cybord'sproprietarytechnology is already deployed,servingFLEXand other global industry leaders at several manufacturing sitesglobally. The company has made remarkable technological and commercialachievements to date. By now,Cybordscanned over 1.2 billion components while supporting high production volumes with value delivered every day,"said Elad Frenkel,Managing Partner at IL Ventures."We are confident thisgenuinely disruptive AI technologywillchange the entire industry,solving a multi-billion-dollar pain of the electronics industry."

The company will use the proceeds from the investment round to advance its R&D and product offering as well as to expedite business growth into additional verticals such astelecom,automotive,defense,and healthcare.

The investment round was led by IL Ventures and joined by NextLeap Ventures,with co-investment by theIsraelInnovation Authority (IIA),through the "Seed Fund."

"The purpose of this highly attractive mechanism of the IIA is to increase the number of seed-stage investments,reduce risk and incentivize more experienced,venture capital investors to invest in young,early-stagestartups operating in fields involving complex technologies and market disruption," said Karina Rubinstein,Senior Director for Business Development at the IIA.

About Cybord

Cybord`s innovativesoftware solution implements AI &Big Datatechnology for Zero-Trust compliance of electroniccomponentsto ensureno counterfeit,high Quality,no malware-tempering,and Surgical traceabilityfor electronics manufacturers.https://www.cybord.ai.

About IL Ventures

IL Ventures (ILVP Fund,LP) invests in disruptive yet tangible technologies that offer deep,actionable insights which drive better business decisions. The fund combines capital with incredibly deep operational experience and an unparalleled global network that helps founders rapidly scale and go global. Backed by top-tier global investors and partners,its team of company builders and industry executives is poised to unlock the full potential Israel'smost promising startups.For further information- visitwww.il-ventures.com.

Cybord certifies that the Circuit board assembly includes only electronic components checked for Counterfeit,Quality,Tampering,and lifetime Traceability

Contact:

Asaf Jivilik

Vice Presidentof Marketing

asaf.j@cybord.ai

+972543215146