Coventry University spin-out CyberOwl acquired by DNV to strengthen maritime cybersecurity

Coventry University has completed the sale of its spin-out company, CyberOwl, to global assurance and risk management provider DNV.

The acquisition will allow CyberOwl to scale its operations, enhance innovation, and expand its global reach with offices in Oslo, London, Singapore, Hamburg, and Piraeus.

CyberOwl was initially developed as a research project within Coventry University’s Research Center for Future Transport and Cities. The project was led by Professor Siraj Shaikh, whose academic expertise in cybersecurity played a central role in shaping the company’s focus on safeguarding maritime infrastructure. 

Under his leadership, the development of Medulla, CyberOwl’s flagship product, became a key driver of its success in the maritime sector.

Professor Shaikh remarked:

 "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."

The acquisition aligns with DNV’s growth strategy, which emphasizes the importance of cybersecurity in digitalizing and automating the maritime industry.

 According to Remi Eriksen, Group President and CEO of DNV: 

“Digital technologies must continue to scale for a safer, more efficient, and greener maritime industry. But the benefits of digitalization and automation cannot be realized without a robust approach to cybersecurity.

“That’s why DNV has placed cybersecurity 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 organization’s cybersecurity needs and manage risk at every stage of a vessel’s lifecycle.”

The commercial expansion of CyberOwl was spearheaded by Daniel Ng, who will continue as CEO, and Ken Woghiren, who contributed to product development. Early investors, including Tom Illube as founding chair, along with Matthew Bowcock from 24 Haymarket and David Baker from Mercia Ventures, played significant roles in supporting the company’s growth.

Paul Noon, Deputy Vice-Chancellor (Enterprise and Innovation) at Coventry University, reflected on the company’s journey, saying:

 “This is another shining example of Coventry University’s world-leading research and expertise being turned into innovative products impacting real-world challenges. CyberOwl began life as an idea in the Research Center for Future Transport and Cities, and we have watched with pride as it has transformed over the years and now spread its wings to fly beyond the university nest.”