Coventry University has sold spin-out company CyberOwl, a global leader in maritime cybersecurity, to independent assurance and risk management provider DNV.
CyberOwl’s journey from a research project to a globally recognised company was led by key innovators, including Professor Siraj Shaikh, whose academic research through the university’s Research Centre for Future Transport and Cities, laid the foundation for CyberOwl’s technological advancements.
Prof Shaikh’s expertise in cybersecurity, especially in securing operational assets, helped shape CyberOwl’s focus on protecting maritime infrastructure.
His transition from research to entrepreneurship showcased the value of applying academic knowledge to solve real-world cybersecurity challenges. Under his technical leadership, CyberOwl developed Medulla, its flagship product that became a cornerstone of the company’s success in the maritime sector.
CyberOwl’s sale to DNV is a major milestone, providing access to a larger pool of resources, expertise and a global footprint. The acquisition creates one of the world’s largest specialists in maritime cybersecurity with a presence in five global shipping hubs: Oslo, London, Singapore, Hamburg and Piraeus.
The sale enables CyberOwl to continue delivering cutting-edge solutions in maritime cybersecurity, accelerating its growth and innovation under the DNV umbrella.
Key board and executive team members contributed significantly to CyberOwl’s growth, including Daniel Ng, who remains as the company’s CEO having led its commercial expansion, and Ken Woghiren, whose strategic input in product development was essential.
Their combined efforts helped navigate the company through critical market shifts and product iterations, ultimately aligning CyberOwl’s technology with the maritime industry’s specific needs.
Other key players in CyberOwl’s success included founding chair Tom Illube, as well as Matthew Bowcock from 24 Haymarket and David Baker from Mercia Ventures – both firms invested substantially in the project.
Paul Noon, Deputy-Vice-Chancellor (Enterprise and Innovation) at Coventry University, said: “This is another shining example of Coventry University’s world-leading research and expertise being turned into innovative products impacting on real-world challenges.
“CyberOwl began life as an idea in the Research Centre for Future Transport and Cities and we have watched with pride as it is has transformed over the years and has now spread its wings to fly beyond the university nest.”
Remi Eriksen, Group President and CEO of DNV, said: “Digital technologies must continue to scale for a safer, more efficient and greener maritime industry. But the benefits of digitalisation and automation cannot be realised without a robust approach to cyber security. That’s why DNV has placed cyber security at the heart of its growth strategy.
“Together, DNV and CyberOwl will reduce cyber risks and strengthen compliance across the maritime supply chain with services that support all aspects of an organisation’s cyber security needs and manage risk at every stage of a vessel’s lifecycle.”
Professor Siraj Shaikh said: “CyberOwl technology builds over several years of research in analytics and threat detection. I am incredibly proud of the progress the team has made, and now over to a new start with DNV.”
Find out more about the Research Centre for Future Transport and Cities.
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