Washington D.C., July 20, 2021 (GLOBE NEWSWIRE) -- WASHINGTON, July 20, 2021 – Corsha, Inc. (www.corsha.com), a leading-edge API security company, today announces it has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase I grant to conduct research and development (R&D) to advance its novel use of distributed ledger technology. Enterprises are increasingly relying on APIs to stitch diverse application ecosystems together, including cloud-native apps and workloads, IoT devices on the edge, and even critical infrastructure moving to cloud. API security is a critical element of every enterprise’s cybersecurity strategy. Corsha's API Security Platform provides a novel way to ensure zero-trust for this machine-to-machine communication. Their platform leverages a private and permissioned distributed ledger network (DLN) at the core of its solution, offering the first way to turn on multi-factor authentication (MFA) for APIs. This SBIR-funded research grant will advance Corsha’s DLN technology to achieve even greater scale and performance.
“NSF is proud to support the technology of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering,” said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs.”
“Distributed ledger technology is a core part of our platform to secure high-performance, real-time APIs, and we have a unique way to build dynamic machine identities on the ledger,” said Anusha Iyer, Co-Founder & CTO of Corsha. “We are very excited to have NSF support this effort to advance ledger technology and Corsha’s ability to protect enterprises against the growing threat of API attacks.”
Once a small business is awarded a Phase I SBIR/STTR grant (up to $256,000), it becomes eligible to apply for a Phase II (up to $1,000,000). Small businesses with Phase II funding are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.
Startups or entrepreneurs who submit a three-page Project Pitch will know within one month if they meet the program’s objectives to support innovative technologies that show promise of commercial and/or societal impact and involve a level of technical risk. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program, also known as America’s Seed Fund powered by NSF, undergo a rigorous merit-based review process. To learn more about America’s Seed Fund powered by NSF, visit: https://seedfund.nsf.gov/
About the National Science Foundation's Small Business Programs: America’s Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $8.5 billion that supports fundamental research and education across all fields of science and engineering.
About Corsha: Corsha (http://www.corsha.com) is an innovative leader in mission-critical API security solutions. Corsha has developed a cybersecurity platform that provides enterprises the security, visibility, and control necessary to secure their data in motion as it moves through APIs. Corsha’s platform offers the first and only dynamic, fully automated multi-factor authentication solution (MFA) for API traffic with no human user involved. By enabling MFA for APIs, Corsha’s platform is extending the same principles for APIs that have successfully protected systems from human username and password cyberattacks, pinning access to only trusted machines. Corsha's API Security Platform is fully automated, Kubernetes- and cloud-native, highly scalable, and platform agnostic. Customers can leverage Corsha's Platform via a cloud-managed service offering or fully self-host it within their own environment.