Karamba Security, an Ann Arbor, Michigan and Hod Hasharon, Israel-based provider of cybersecurity solutions for connected and autonomous vehicles, raised $12m in Series B funding.
The round was led by YL Ventures and Fontinalis Partners led the round, followed by GlenRock Israel and new strategic investors Paladin Capital Group, Liberty Mutual Strategic Ventures, Presidio Ventures, Asgent, Inc.
The company, which has raised $17m in total, intends to use the funds to expand its customer support, sales and R&D teams.
Led by Ami Dotan, co-founder and CEO, Karamba Security has introduced prevention software that aims to protect the car, based on its factory settings, and blocks hacking attempts as they deviate from the car’s factory settings. The software automatically hardens the electronic control units (ECUs) of connected and autonomous cars, preventing hackers from manipulating and compromising them and hacking into the car. Karamba’s Autonomous Security works with no connectivity requirement and negligible performance impact.