Test of Things Secures €1.2M for Automated IoT Security

Helsinki, Finland – A new player is emerging in the critical field of Internet of Things (IoT) security, with Test of Things securing €1.2 million in pre-seed funding. This capital infusion is earmarked to accelerate the development of their automated platform designed to streamline cybersecurity compliance and testing for connected devices. The funding round saw participation from prominent investors, including lead investor Vendep Capital, alongside contributions from industry figures like Aapo Oksman, Zach Shelby, Neil Costigan, and ScanABC. Business Finland also backed the venture, underscoring its strategic importance.

The core of Test of Things' offering addresses a significant bottleneck in the rapidly expanding IoT market. Manufacturers of connected products face mounting pressure to ensure robust security, a process currently dominated by manual, time-intensive, and costly testing procedures. This traditional approach struggles to keep pace with the sheer volume of devices entering the market, creating a fertile ground for cyber threats. The company's founders, Marko Kaasila (CEO) and Rauli Kaksonen (CTO), established the firm in 2024 with the explicit mission to democratize IoT security.

“This investment empowers us to significantly advance our product development and begin assisting manufacturers in building customer and regulatory trust through inherently secure products,” stated Rauli Kaksonen. The platform leverages AI-driven automation to conduct continuous testing, identify vulnerabilities early in the development cycle, and generate the essential compliance documentation that regulators increasingly demand. This shift from manual oversight to automated validation is crucial for scaling security efforts in line with market growth.

The implications of unsecured IoT devices extend far beyond individual consumer data breaches. Such vulnerabilities can serve as entry points for sophisticated attacks targeting critical infrastructure, industrial control systems, and sensitive operational technology (OT) networks. The potential for widespread disruption, from compromising factory operations to impacting energy grids, highlights the urgent need for scalable and effective security solutions. Marko Kaasila emphasized this point, noting, “The current methods for assuring product cybersecurity are unsustainable due to their manual nature, lack of systematic rigor, and high expense.”

Sami Ahvenniemi, Partner at Vendep Capital, commented on the market opportunity, observing, “The IoT and OT security and compliance testing market is entering a significant growth phase, propelled by two major trends. Firstly, the increasing convergence of industrial control systems, IIoT, and OT networks with enterprise IT and cloud environments. Secondly, the escalating regulatory scrutiny and operational risks associated with critical infrastructure, manufacturing, and utilities.” He added, “Witnessing two experienced entrepreneurs with highly relevant backgrounds collaborate on a testing platform made this an immediate investment opportunity.”

With this new funding, Test of Things intends to bolster its engineering team and expedite the enhancement of its automated cybersecurity testing platform. The company aims to become a key enabler for manufacturers navigating the complex regulatory and security demands of the connected product era, ultimately contributing to a more secure digital ecosystem.