Karamba Security, a Hod Hasharon, Israel-based automotive and IoT security company, raised $10M in funding.
The round, which brings the total capital raised to date to $27m, was led by VinFast with participation from SVIC and existing investors YL ventures, Fontinalis Partners, Liberty Mutual, Presidio Ventures, Glenrock, Paladin Group and Asgent.
The company intends to use the funds to accelerate development of its product roadmap to comply with newly created regulations such as UN R155 and ISO 21434 for automotive cybersecurity and the U.S. Executive Order on Improving the Nation’s Cybersecurity.
Led by Ami Dotan, CEO, Karamba Security is an automotive and IoT security company providing cybersecurity solutions that secure the device’s entire lifecycle without interference of R&D or supply chain processes. Its IoT security enables automotive OEMs and suppliers, as well IoT device manufacturers, to comply with industry regulations and differentiate their offerings without imposing costly changes on their product development schedules or requiring changes to legacy modules they use. Connected device manufacturers in automotive, renewable energy, enterprise edge and IoT use its products and services to protect their connected devices against cyberattacks.
The company has more than 80 engagements with Fortune 500 companies.
FinSMEs
03/12/2021